UCLA’s Anderson School of Management now has the last bit of paperwork it needs to largely get rid of state support. The move will yield more flexibility and, the school hopes, help it raise money as it chases the enviable endowments of some of its peers.
Last week the university provost signed an agreement that chops all public funding from Anderson’s full-time MBA program—a year after the University of California system’s president approved the shift, and almost four years after Anderson’s dean, Judy Olian, first proposed the idea. Anderson now has more control over tuition-setting and how many faculty members to hire (although the university gets a final sign-off on faculty salaries). It’s also on the hook for its own financial fortunes. According to a December 2013 review of Anderson by UCLA faculty and outside deans, “the financial success of the school will depend on tuition revenue, gifts from donors to cover current expenses, and income from the school’s endowment.”