Two young British entrepreneurs have launched the London School of Business and Finance Global MBA through a Facebook application, claiming it to be “the world’s first internationally recognized MBA to be delivered through a Facebook application.” The application, introduced last month, already has over 30,000 active users. The MBA program allows students to access courses in corporate finance, accounting, ethics, marketing, and strategic planning directly through Facebook. The first “MBA test drive” is offered free of charge, and students are only required to pay fees if they decide to take exams. The total cost of the MBA is £14,500, the same as the school’s campus-based and distance-learning MBAs.

The London School of Business and Finance, founded in 2003, aims to eliminate the risk associated with online education by providing flexibility and options for students to pay for each module separately. The school has a history of successful programs, with over 90% completion rates, and offers courses in partnership with institutions such as the University of Wales, the Grenoble Graduate School of Business in France, and Bradford University in the UK. The Facebook MBA is designed to leverage the social media platform’s popularity and is expected to attract a large number of prospective students who can engage in online lectures, peer-to-peer study sessions, and interactive tests. The program’s creators believe it addresses the low completion rates associated with online MBAs by providing more flexibility and a pay-as-you-go model.