At its November meeting, the Iowa Board of Regents Academic Affairs Committee approved the University of Iowa Tippie College of Business’s request to suspend admissions to its Master of Science in Finance program starting fall 2025.

The Master of Finance program, started in 2018, is an on-campus, three-semester course offering one-on-one mentorship with industry leaders. According to the UI’s request to the regents, the suspension of admissions is temporary as the Tippie College of Business explores the possibility of an online option.

Jennifer Blackhurst, associate dean for graduate professional programs at the Tippie College of Business, said offering the degree online may attract more interest. She cited data showing a steady decline in enrollment over the past five years, from 51 students in 2021 to just 31 in 2024.

“We’re seeing a movement in general where online offers a level of flexibility and convenience for students, especially in the graduate space,” Blackhurst said.

She said the Tippie College of Business remains dedicated to students currently enrolled in the Master of Finance program, and their experiences and trajectories will not be affected by the suspension of admissions.

“We’re not talking about getting rid of the degree. The degree of Master of Finance is incredibly valuable,” Blackhurst said. “But how do we make it more accessible? How do we continue to improve the experience in delivering in classes?”

In addition to the decline in enrollment, Blackhurst said the decision was driven by a need to reevaluate the program to keep pace with the changing landscape of the industry, particularly as technologies like AI play a growing role.

“[We’re] always looking at what employers are looking for in terms of skill sets, degrees, new technology that the students can leverage as great employees,” Blackhurst said.

Erik Lie, department executive officer for the Tippie College of Business, shared a similar sentiment, emphasizing that the Master of Finance program needs higher enrollment to justify the resources required to maintain its high quality.

“We put a ton of resources into the program in terms of quality faculty, class development, and number of classes,” Lie said. “So, given the lack of interest, it just wasn’t sustainable for us to put all the resources into the program anymore.”

Blackhurst said the college plans to approach the Board of Regents in the spring to discuss proposed changes for resuming admissions to the Master of Finance program, with Lie adding that it likely will not return solely on-campus.

“What we’ve seen, especially since the pandemic, is that among graduate students, there’s a lot more demand to take courses online,” Lie said. “We can talk back and forth about whether we can deliver the same type of experience online. But the fact is that this is what this potential student group wants in terms of delivery.”

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Zach Bohle, a current student in the Master of Finance program, said he has valued the in-person modality of the program but recognizes the need for a change.

“I think it’s okay that they’re switching and maybe even going to this online format. As long as they’re getting the demand back up, I think that would be great,” Bohles said. “Personally, I love in-person courses. I didn’t like during the COVID period when I had to do courses online.”

Bohle said the decision to suspend admissions has not affected his experience or trajectory with the degree.

“It’s still a great experience,” Bohle said. “The faculty, the advisors, everybody’s still showing up. They’re working hard. I think as a current student in the program, we haven’t really noticed anything different.”

Bohle praised the Master of Finance program for the experiential learning opportunities provided to the students.