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Lancaster University Management School (LUMS) Definition

What Is the Lancaster College Administration Faculty (LUMS)?

Lancaster College Administration Faculty (LUMS) is the enterprise college of Lancaster College in Lancaster, England. Established in 1964, it gives a variety of topics from undergraduate levels to postgraduate levels together with MBAs, Ph.D.s, and post-experience government schooling.

LUMS’s MBA program has persistently been ranked extremely alongside a number of dimensions, akin to in company technique and for offering the most effective worth for the cash on this planet.

Key Takeaways

  • Lancaster College’s Administration Faculty (LUMS) is a U.Ok.-based enterprise college providing larger education schemes on the undergraduate and graduate ranges.
  • LUMS is commonly ranked among the many greatest enterprise colleges within the U.Ok. 
  • LUMS is accredited by 4 our bodies, together with the AACSB, EQUIS, AMBA, and the Small Enterprise Constitution.

Understanding the Lancaster College Administration Faculty (LUMS)

Lancaster College Administration Faculty (LUMS) is likely one of the 4 schools of Lancaster College and is located on the college campus, south of the town of Lancaster. The campus consists of recent buildings and services grouped collectively close to the south finish of the campus. The Hub space and atrium of the college is primarily a number to postgraduate research. The Charles Carter Constructing supplies further educating house in addition to Ph.D. research services. It’s residence to a number of tutorial educating departments.

LUMS is one in every of a small group of enterprise colleges on this planet to have achieved quadruple accreditation by the main worldwide enterprise college accreditation organizations, together with AACSC, EQUIS, Affiliation of MBAs, and Small Enterprise Constitution.

In 2005, LUMS partnered with Ernst & Young to supply undergraduate levels in accounting and finance, through which college students undertake two intervals of paid work expertise with Ernst & Younger, in preparation for a Chartered Accountant profession.

Lancaster College Administration Faculty was ranked ninth within the UK and 96th on this planet by the Monetary Instances in its MBA rankings 2021.

Tuition and Charges

There are completely different charges based mostly on whether or not a pupil is undergraduate or post-graduate, from the UK or from one other nation, in addition to what area they’re learning.

For graduate college students attending the enterprise college who’re both from the UK or from different nations around the globe, the 2021-2022 tuition value is £33,000, or roughly $45,344.

On the undergraduate stage, the worth varies relying on what nation the coed comes from. For full-time undergraduate college students from the UK learning at Lancaster, the yearly tuition is £9,250, or roughly $12,710. For part-time college students, the fee is £3,083, or $4,236, per 40 credit score module, or £2,312, or $3,177, per 30 credit score module. 

For worldwide undergraduate college students, the schooling ranges between £19,930, or $27,385, per yr for individuals who research arts and social sciences, to £36,430, or $50,057, for these in medical college. 

Charge Standing After Brexit

Previous to the U.Ok.’s exit from the European Union, college students from different EU nations have been in a position to pay the identical tuition and charges as college students within the UK. However as of August 1, 2021, new college students attending Lancaster College from EU nations will now not obtain the identical payment standing and monetary help as college students from the UK. All new college students who hail from EU member states in 2021-2022 and past pays the identical tuition and charges as all different non-UK college students.

College students from EU nations who’re already enrolled at Lancaster College won’t be charged the upper non-UK pupil charges. They may proceed to pay the identical charges as earlier than Brexit.

Examine and Work Overseas Prices

College students taking a yr overseas to check at one other college will probably be charged 15% of the usual tuition payment, whether or not they’re a part of the Erasmus program or not. College students collaborating in a piece overseas program will probably be charged 15% of the payment if they’re a part of Erasmus, and 20% of the payment if they aren’t.

Erasmus is an EU program that gives funding for schooling, coaching, youth, and sports activities in Europe. It’s primarily accessible to college students from EU-member nations. Following Brexit, this system is now not accessible to the vast majority of U.Ok. college students. Those that have already certified for funding in earlier years will probably be allowed to complete their applications by means of the 2021-2022 college yr.

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