Economic Crisis Sends Many Back To School

SAN DIEGO -- As Wall Street struggles, more and more people are trying to find a way to improve their own financial standing by going back to school.

10News Digital Correspondent, Joe Little says, these days, there is more invested interest in business classes at Point Loma Nazarene University.

Wall Street is a hot topic, he says, both in the news and in the classroom.

And, experts say, the economic downturn has created an increase in enrollment especially for masters in business administration programs.

“Our enrollment from last year to this year is up 86-percent,” says Jose Munoz who runs the MBA Program at Point Loma Nazarene.

He says you can always tell how the economy is doing by counting MBA program applications. When business is good, enrollment is lower. When times are tough, like they are now, he says, enrollment skyrockets.

“People, if they can afford it, take advantage of the time to boost their skills so that when the job market bounces back, they’re more trained and ready to go and move to the next higher position,” said Munoz.

“I think it was the next step,” said Mike Salas, who is in the MBA program. He added it may be up to the current crop of students to reverse what’s happening on Wall Street.

“The Feds are involved but us moving forward were going to help rebuild the economy and I think were just at the right time,” Salas said.

Fellow MBA student, Courtney Urbano, says her friends are now seeking her advice.

“A lot of them are coming to me and asking me how I like the program and what I’m getting out of it,” said Urbano.

She’s getting a better understanding of what’s happening -- and what to do in the future.

“This is challenging because were watching history,” said Jose.

Administrators at other universities, including San Diego State and USD, say they are also seeing similar enrollment spikes in their MBA programs.