Northwood University in Florida will roll out a new, 24-month online MBA program for working professionals in January, school officials announced.

"Our new Online MBA classroom provides students and faculty with a flexible way to not only engage with one another but also capture learning via discussion boards, small group activities and deliverables through our carefully structured cohort-based approach," Dr. Lisa Fairbairn, dean of the DeVos Graduate School, said in a statement.

The flexible program requires students to complete 36semester hours of credit and achieve a 3.0 or higher cumulative grade point average. This translates into 12 courses to complete the grade - or, roughly six courses per year.

"This method allows students to optimize their success both as working professionals and as graduate students, letting them to balance the demands of work, home and study," Fairbairn said. "It offers the same content and rigorous academic standards -- and the same faculty -- as our traditional graduate degree programs. The only difference is the delivery modality. We make no distinction between our on-campus and online graduate students."

Students enrolled in Northwood University's new Online MBA track can expect to spend between 15 and 20 hours a week studying, completing assignments, participating in online activities and engaging in discussion and collaboration with classmates, according to Fairbairn.

The program is designed for students to take one course at a time so they can place their focus on one subject area, while building on the knowledge they have obtained from previous courses and allowing them to continue on their career path during their studies.

"One of the benefits of completing your MBA online is flexibility," Fairbairn added. "It allows the students to decide what time works for them to complete the necessary deliverables and engage in discussions with their cohort and faculty. It's the best of both worlds."

Enrollment is now open, with the first course starting in January 2015.