LFGSM

Excelsior University shares our commitment to providing flexible, high-quality education for working adults. They have worked with us to provide a supportive pathway to help LFGSM students seamlessly continue their education after our courses conclude.

- For Current Students: By establishing an agreement with Excelsior University, we aim to provide LFGSM students with a smooth and flexible pathway to complete their MBA degree, offering time and cost savings while granting access to the broader benefits of a larger institution.

- For Our Alumni: Your degree from LFGSM remains valid. Nothing changes about your credentials, honors, or standing as an alumnus or alumna of the Lake Forest Graduate School of Management. We appreciate your support of LFGSM and are proud of your many accomplishments.

- For Our Faculty: LFGSM's success over the past 80 years was dependent on the knowledge, experience and dedication you gave to the LFGSM students, helping them grow their careers. We sincerely appreciate your contributions.

President's Message: Letter from Carrie Buchwald, President & CEO

General FAQ:

Why has LFGSM taken this step? 

• We understand this transition wasn’t expected when you started your journey with us. However, due to declining enrollment, continuing to offer the MBA independently is no longer sustainable for our institution.

Who is Excelsior University? 

• Founded in 1971, Excelsior University is a private, not-for-profit university specializing in online education, based in Albany, New York. It is accredited by the Middle States Commission on Higher Education and focuses on providing flexible and affordable education to help students complete degrees and advance their careers.

Why did LFGSM decide to form a strategic partnership with Excelsior University? 

• Excelsior University has agreed to offer LFGSM students a seamless opportunity to complete their MBA degree online, with a continued commitment to quality education and greater flexibility. Excelsior University offers access to the resources of a larger, national institution, ensuring students can complete their degree on an efficient, cost-effective path.

What is the last term that LFGSM classes will be offered? 

• LFGSM will cease operations on June 30, 2026, and stop offering MBA courses after the Spring II term.

How will my financial aid be affected while I am a student at LFGSM? 

• The transition will not affect your financial aid while you are an LFGSM student. However, if you received federal student loans while enrolled at LFGSM, you may qualify for a Closed School Loan Discharge or Borrower Defense Discharge. For more information, please refer to the U.S. Department of Education’s information webpage for students on Closed School Discharge and Borrower Defense for federal student loans.

Student: Please visit our Student FAQ Download for answers to important questions on your options for completing your degree, academic records, and impact on financial aid.

Faculty: Faculty FAQ Download

Alumni Information: As a graduate of LFGSM, your degree and alumni status remain valid. Transcript and degree verification are available through the National Student Clearinghouse until June 30, 2026. After this date, your academic records will be managed by the State of Illinois as our permanent custodian of records.

Excelsior University: Visit Excelsior LFGSM Webpage to learn more about Excelsior University, view a welcome video from their Dean and find answers to common transfer questions. To support our students, LFGSM and Excelsior have entered into what is known as a teach out agreement, which remains subject to regulatory and accreditor approvals and would provide various benefits to our students. Excelsior is extending the opportunity to transfer under the same terms contemplated by the agreement while it is under accreditor review.

Illinois Board of Higher Education:
1 North Old State Capitol Plaza, Suite 333
Springfield, Illinois 62701-1377
Phone: (217) 782-2551
Fax: (217) 782-8548
TTY: (888) 261-2881
https://www.ibhe.org/

Higher Learning Commission:
230 South LaSalle Street, Suite 7-500
Chicago, Illinois 60604-1411
Phone: (800) 621-7440 / (312) 263-0456
Fax: (312) 263-7462
https://www.hlcommission.org/