CHEYENNE -- The cost of an MBA degree from the University of Wyoming could nearly triple starting next school year, as part of a proposed massive overhaul of the university's MBA program.

The university's law and pharmaceutical programs have also proposed their own tuition increases, all of which will be considered by the UW Board of Trustees during their Nov. 19-21 meeting.

Under three separate proposals, the in-state tuition rate for the university's MBA program would jump next year 178 percent, 181 percent or 183 percent respectively.

If the university approves a proposed revamp of the UW MBA program, those increases would mean the total sticker price of the 18-month program would be set at either $21,378, $21,588 or $21,756.

The current 16-month MBA program costs $7,686.

Out-of-state MBA students, meanwhile, would pay 39 percent, 41 percent or 43 percent more, respectively, under the proposals.

Those are just the proposed tuition hikes for next year: the MBA program has also suggested more modest increases during the following three years as well.

University officials say the increases are needed to dramatically improve the school's MBA program. The higher cost, paradoxically, is also hoped to lure potential students who might see low tuition rates as an indication of a substandard program.

UW's law school has also suggested hikes between 16.5-21.5 percent next year for Wyoming residents and between 10.2-15.1 percent for non-residents.

Pharmaceutical program tuition would rise next year between 22.5-27.2 percent for residents and between 12.8-17.7 percent for non-residents.

The money will mostly be funneled back into the programs to pay for new scholarships and faculty, among other things; the rest will go toward library and academic improvements.

However, even if the tuition increases are passed, federal stimulus money would be used to offset any hikes next year -- meaning students wouldn't see any increase in their tuition bill until the 2011-2012 school year.

Contact capital bureau reporter Jeremy Pelzer at 307-632-1244 or jeremy.pelzer@trib.com