Facebook users can now study an MBA for free at the London School of Business and Finance (LSBF) after the college launched a course that will be available on the social networking website.

Students will be able to study for free and will only pay if they want to be formally assessed for an MBA. The LSBF GlobalMBA, which has received £7.5m investment, is awarded by the University of Wales.

Valery Kisilevsky, group managing director of the London School of Business and Finance, said Facebook was chosen to host its The LSBF GlobalMBA application because it offered the chance to widen the availability of education.

"We looked at how our current students communicate with each other and the college and Facebook is the platform of choice," said Kisilevsky.

The application allows anybody to check out the course through online resources such as videos on YouTube. Students can then decide whether they have the time and money to complete the course.

"If you want to study but are not sure if you have the time or money, you can try it out first," said Kisilevsky. "Only when they decide that they will sit an exam they will be asked to pay."

People who are interested in learning business skills but do not want to do the exams can study the course free of charge.

The LSBF was founded in 2003 and has 12,000 students from 150 counties. The college expects 500,000 people to try out the Facebook application in the first year, with some going for the full LSBF Global MBA accreditation.

Click here to take a look at the LSBF GlobalMBA - when you see the web page click the "like" button >>