The new course, which will be offered by the university’s Jones Graduate School of Business, will offer prospective students increased flexibility when picking their MBA programme.
It allows students to study part-time, meaning those who might otherwise have had trouble finding the time to study for an MBA now have a greater chance of doing so.
The course is designed to take between three and five years to complete, and students will have flexibility over when they choose to study. Most teaching is likely to take place in the evenings.
Previously, the Jones Graduate School’s MBA programmes were only available to be completed over two years.
The new course is entitled "Extended Professional (ExP) Evening MBA Program", and the first students will begin in September this year. The course tuition fees are set at $95,500.
Rice University (pictured), located in Houston, Texas, has some of the most respected MBA programmes in the world.
It has called its new MBA course a way “to better accommodate our working professional students.”