Rankings / MBA
Best MBA Programs in Illinois
- 27
- Schools
- $61,797
- Avg. Earnings
- 61%
- Avg. Graduation
- $18,581
- Avg. Net Price
- $22,116
- Avg. Debt
CollegeRanker Research
What Surprised Us Most
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Graduate earnings span a wide band on this list, from $51,989 at the low end to $89,363 at the top. That 1.7× spread shows how much outcomes vary within a single category.
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University of Illinois Chicago offers the strongest payback. Graduates earn a median of $68,740 against $10,974 in annual net price, the best earnings-to-cost ratio in this ranking.
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Cost and quality are not at odds here. The most affordable program, University of Illinois Springfield at $9,833 a year in net price, delivers earnings of $57,103, matching or exceeding the list average.
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Completion rates separate this field: Northwestern University graduates 96% of its students, well above the 61% list average. Finishing what you start matters as much as where you start.
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Debt-to-earnings ratios favor Northwestern University: graduates owe only 0.17× their yearly income, the most manageable debt burden on the list.
Surprising Comparisons
- Price and payoff diverge sharply here. University of Illinois Springfield ($9,833/yr) and Northwestern University ($86,370/yr) produce graduates earning $57,103 and $89,363 respectively, a far narrower earnings gap than the $76,537 cost difference would suggest.
- On a cost-adjusted basis, University of Illinois Chicago outperforms Northwestern University: similar career earnings at a much lower net price.
- Completion is where this ranking's schools diverge most: Northwestern University graduates 96% of its students versus 41% at Concordia University-Chicago. Access without completion is opportunity unclaimed.
The Takeaway
A consistent pattern: the programs that finish at the top get there by delivering strong earnings, manageable debt, and real mobility rather than by charging more or rejecting more applicants. Those outcomes are what define educational value.
What This Means for Students
For students evaluating these programs, begin with University of Illinois Chicago and Northwestern University. Look past sticker price: pull each school's net price for your income level, compare it against projected earnings, and let the data guide the decision instead of the brand.
Why this ranking matters
Business is one of the higher-return fields in the economy, but the payoff depends heavily on where you study it. Graduates of these programs earn a median of about $60K within a decade, and management analyst roles are projected to grow 10%. We rank programs by the outcomes they produce for graduates, not by reputation.
How we measure this — full methodology →How we rank · 4 pillars
Federal-source data only. Build your own weighting →
Data Behind This Page Updated 2026-07-13
Source datasets
- Chetty, R., Friedman, J., Saez, E., Turner, N., & Yagan, D. (2017). Mobility Report Cards: The Role of Colleges in Intergenerational Mobility. NBER Working Paper No. 23618.
- U.S. Department of Education. College Scorecard Data. Federal Student Aid, National Center for Education Statistics.
- National Center for Education Statistics. Integrated Postsecondary Education Data System (IPEDS).
- U.S. News & World Report. Best Business Schools MBA Rankings. Used for MBA program validation.
Methodology
Schools are scored on the CollegeRanker 4-Pillar Algorithm: Economic Outcomes (30%), Social Mobility (25–35%), Academic Quality (15–20%), and Value (20–25%). Every weight is published and every figure traces to a public dataset.
See the full methodology and weights →Confidence notes
- Earnings, completion, and debt figures come from federal administrative records — tax data and student-aid filings — not surveys or self-reports, the highest-confidence tier of education data available.
- Social-mobility estimates are drawn from de-identified tax records covering more than 30 million students (Opportunity Insights).
- Where an institution is missing a metric, it is excluded from that metric rather than imputed, so averages are never inflated by guesses.
Limitations
- Federal earnings data primarily cover students who received federal financial aid; outcomes for non-aided students may differ.
- Earnings are measured roughly ten years after enrollment, so they describe how earlier cohorts fared — historical outcomes, not guarantees of future results.
- An institution's field-of-study mix affects raw earnings; scores reflect measured outcomes and are not fully major-adjusted unless explicitly noted.
- Net price is an average; the actual cost a given student pays varies widely by family income.
At a Glance
How the Top Schools Compare
| School | Earnings | Net Price | Graduation | Score |
|---|---|---|---|---|
| 1 Northwestern University #1 overall | $89,363 ▲ +45% vs avg | $29,167 | 96% | 80 |
| 2 Southern Illinois University Edwardsville #2 overall | $56,346 ▼ -9% vs avg | $14,889 | 56% | 75 |
| 3 Illinois State University #3 overall | $62,117 ▲ +1% vs avg | $19,398 | 65% | 75 |
| $59,572 ▼ -4% vs avg | $16,948 | 57% | 74 | |
| $66,099 ▲ +7% vs avg | $17,028 | 65% | 72 |
Score uses our 4-pillar methodology. Earnings % is vs. this list's average.
See full ranking →Executive Summary
Best MBA Programs in Illinois
This analysis ranks 27 institutions on graduate earnings, social mobility, completion, and cost. Across the list, alumni earn a median of $61,797 ten years after enrolling, against an average graduation rate of 61% and an average net price of $18,581.
Key takeaways
- Strongest Earnings-to-Cost Ratio: University of Illinois Chicago — Net Price: $10,974 | Graduation Rate: 61%
- Strongest Completion Outcomes: Northwestern University — 96% completion rate
- Highest Earnings Generator: Northwestern University — Median alumni earnings: $89,363
Data Insight
The most expensive quartile of colleges costs 373% more than the most affordable — but their graduates earn just 34% more.
Management Education Analysis
What does this ranking tell us about leadership and management education?
$59,572
Median earnings (10yr)
59%
Median graduation rate
$18,436
Median net price
1.5%
Avg. mobility rate
Management education makes a blunt promise: pay now, earn more later. Top-tier programs keep that promise through network effects and placement outcomes. Many others raise earnings barely enough to cover their cost. The spread in outcomes across programs is wider here than in almost any other discipline.
Start with the medians across these 27 programs. Graduates earn a median of $59,572 ten years after enrollment, or about $11,572 above the $48,000 a typical American worker earns. The median graduation rate is 59%, and the typical net price (what students pay after grants) runs $18,436 a year with about $22,223 in federal debt. Pell grants reach 37% of students on average, and the average mobility rate, the share of students lifted from the bottom income quintile to the top, is 1.5%.
In management education, network effects amplify everything. Graduates earn a median of $59,572 ten years after enrollment, and Northwestern University leads the field. The gap between the top and the middle is wide enough that school selection may be the most consequential financial decision in this category.
The podium
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Tip: Check the box on any 2–4 schools below to compare them side by side.
Full rankings
Why it ranks #1
Northwestern University lands at #1 with a 80/100 composite, led by academic quality (87/100) and pulled down by value per dollar (71/100). Graduates earn a median $89,363 a decade after enrolling, 45% above this list's average, and net price runs $29,167 a year, above the field. Academics score well here, yet mobility (35%) and value (20%) carry the most weight, so outcome-per-dollar sets the final position.
Pillar breakdown
Edwardsville, IL · 98% accepted · $14,889 net
Why it ranks #2
Southern Illinois University Edwardsville lands at #2 with a 75/100 composite, led by social mobility (90/100) and pulled down by academic quality (67/100). Graduates earn a median $56,346 a decade after enrolling, 9% below this list's average, and net price runs $14,889 a year, well under the field. Because the methodology weights social mobility (35%) and value (20%) above prestige, that mobility is what puts it near the top, even with below-average salaries.
Pillar breakdown
Why it ranks #3
Illinois State University lands at #3 with a 75/100 composite, led by social mobility (83/100) and pulled down by value per dollar (61/100). Graduates earn a median $62,117 a decade after enrolling, 1% above this list's average, and net price runs $19,398 a year. Because the methodology weights social mobility (35%) and value (20%) above prestige, that mobility is what puts it near the top.
Pillar breakdown
Why it ranks #4
North Park University lands at #4 with a 74/100 composite, led by social mobility (85/100) and pulled down by value per dollar (56/100). Graduates earn a median $59,572 a decade after enrolling, 4% below this list's average, and net price runs $16,948 a year, well under the field. Because the methodology weights social mobility (35%) and value (20%) above prestige, that mobility is what puts it near the top, even with below-average salaries.
Pillar breakdown
Why it ranks #5
Lewis University lands at #5 with a 72/100 composite, led by social mobility (83/100) and pulled down by value per dollar (63/100). Graduates earn a median $66,099 a decade after enrolling, 7% above this list's average, and net price runs $17,028 a year. Because the methodology weights social mobility (35%) and value (20%) above prestige, that mobility is what puts it near the top.
Pillar breakdown
Why it ranks #6
North Central College lands at #6 with a 72/100 composite, led by social mobility (82/100) and pulled down by value per dollar (56/100). Graduates earn a median $60,123 a decade after enrolling, 3% below this list's average, and net price runs $21,044 a year, above the field. Because the methodology weights social mobility (35%) and value (20%) above prestige, that mobility is what puts it near the top, even with below-average salaries.
Pillar breakdown
Why it ranks #7
Dominican University lands at #7 with a 72/100 composite, led by social mobility (85/100) and pulled down by academic quality (60/100). Graduates earn a median $60,327 a decade after enrolling, 2% below this list's average, and net price runs $11,745 a year, well under the field. Because the methodology weights social mobility (35%) and value (20%) above prestige, that mobility is what puts it near the top, even with below-average salaries.
Pillar breakdown
Champaign, IL · 42% accepted · $14,355 net
Why it ranks #8
University of Illinois Urbana-Champaign lands at #8 with a 72/100 composite, led by academic quality (83/100) and pulled down by social mobility (59/100). Graduates earn a median $81,054 a decade after enrolling, 31% above this list's average, and net price runs $14,355 a year, well under the field. Academics score well here, yet mobility (35%) and value (20%) carry the most weight, so outcome-per-dollar sets the final position.
Pillar breakdown
Why it ranks #9
DePaul University lands at #9 with a 71/100 composite, led by social mobility (84/100) and pulled down by value per dollar (39/100). Graduates earn a median $68,751 a decade after enrolling, 11% above this list's average, and net price runs $30,902 a year, above the field. Because the methodology weights social mobility (35%) and value (20%) above prestige, that mobility is what puts it near the top.
Pillar breakdown
Why it ranks #10
Northern Illinois University lands at #10 with a 71/100 composite, led by social mobility (83/100) and pulled down by value per dollar (64/100). Graduates earn a median $57,808 a decade after enrolling, 6% below this list's average, and net price runs $13,391 a year, well under the field. Because the methodology weights social mobility (35%) and value (20%) above prestige, that mobility is what puts it near the top, even with below-average salaries.
Pillar breakdown
Why it ranks #11
Aurora University lands at #11 with a 71/100 composite, led by social mobility (84/100) and pulled down by value per dollar (58/100). Graduates earn a median $58,709 a decade after enrolling, 5% below this list's average, and net price runs $18,838 a year. Because the methodology weights social mobility (35%) and value (20%) above prestige, that mobility is what carries it up the list, even with below-average salaries.
Pillar breakdown
Why it ranks #12
Eastern Illinois University lands at #12 with a 71/100 composite, led by social mobility (81/100) and pulled down by academic quality (65/100). Graduates earn a median $51,989 a decade after enrolling, 16% below this list's average, and net price runs $12,786 a year, well under the field. Because the methodology weights social mobility (35%) and value (20%) above prestige, that mobility is what carries it up the list, even with below-average salaries.
Pillar breakdown
Why it ranks #13
University of Illinois Chicago lands at #13 with a 70/100 composite, led by value per dollar (75/100) and pulled down by social mobility (62/100). Graduates earn a median $68,740 a decade after enrolling, 11% above this list's average, and net price runs $10,974 a year, well under the field. Because the methodology weights social mobility (35%) and value (20%) above prestige, that low cost is what carries it up the list.
Pillar breakdown
Why it ranks #14
Benedictine University lands at #14 with a 70/100 composite, led by social mobility (84/100) and pulled down by value per dollar (50/100). Graduates earn a median $63,446 a decade after enrolling, 3% above this list's average, and net price runs $22,313 a year, above the field. Because the methodology weights social mobility (35%) and value (20%) above prestige, that mobility is what carries it up the list.
Pillar breakdown
Why it ranks #15
Judson University lands at #15 with a 70/100 composite, led by social mobility (85/100) and pulled down by value per dollar (53/100). Graduates earn a median $56,313 a decade after enrolling, 9% below this list's average, and net price runs $18,558 a year. Because the methodology weights social mobility (35%) and value (20%) above prestige, that mobility is what carries it up the list, even with below-average salaries.
Pillar breakdown
Why it ranks #16
Bradley University lands at #16 with a 70/100 composite, led by social mobility (83/100) and pulled down by value per dollar (47/100). Graduates earn a median $66,852 a decade after enrolling, 8% above this list's average, and net price runs $22,719 a year, above the field. Because the methodology weights social mobility (35%) and value (20%) above prestige, that mobility is what carries it up the list.
Pillar breakdown
Why it ranks #17
Saint Xavier University lands at #17 with a 69/100 composite, led by social mobility (86/100) and pulled down by value per dollar (60/100). Graduates earn a median $58,656 a decade after enrolling, 5% below this list's average, and net price runs $10,970 a year, well under the field. Because the methodology weights social mobility (35%) and value (20%) above prestige, that mobility is what carries it up the list, even with below-average salaries.
Pillar breakdown
Why it ranks #18
McKendree University lands at #18 with a 69/100 composite, led by social mobility (82/100) and pulled down by value per dollar (48/100). Graduates earn a median $58,572 a decade after enrolling, 5% below this list's average, and net price runs $24,717 a year, above the field. Because the methodology weights social mobility (35%) and value (20%) above prestige, that mobility is what carries it up the list, even with below-average salaries.
Pillar breakdown
Why it ranks #19
Elmhurst University lands at #19 with a 69/100 composite, led by social mobility (84/100) and pulled down by value per dollar (46/100). Graduates earn a median $61,462 a decade after enrolling, 1% below this list's average, and net price runs $24,185 a year, above the field. Because the methodology weights social mobility (35%) and value (20%) above prestige, that mobility is what carries it up the list, even with below-average salaries.
Pillar breakdown
Why it ranks #20
Western Illinois University lands at #20 with a 69/100 composite, led by social mobility (81/100) and pulled down by academic quality (63/100). Graduates earn a median $54,163 a decade after enrolling, 12% below this list's average, and net price runs $12,937 a year, well under the field. Because the methodology weights social mobility (35%) and value (20%) above prestige, that mobility is what carries it up the list, even with below-average salaries.
Pillar breakdown
Why it ranks #21
Loyola University Chicago lands at #21 with a 68/100 composite, led by social mobility (83/100) and pulled down by value per dollar (34/100). Graduates earn a median $71,530 a decade after enrolling, 16% above this list's average, and net price runs $36,079 a year, above the field. Because the methodology weights social mobility (35%) and value (20%) above prestige, that mobility is what carries it up the list.
Pillar breakdown
Why it ranks #22
Olivet Nazarene University lands at #22 with a 67/100 composite, led by social mobility (84/100) and pulled down by value per dollar (49/100). Graduates earn a median $53,213 a decade after enrolling, 14% below this list's average, and net price runs $20,729 a year, above the field. Because the methodology weights social mobility (35%) and value (20%) above prestige, that mobility is what carries it up the list, even with below-average salaries.
Pillar breakdown
Why it ranks #23
Rockford University lands at #23 with a 67/100 composite, led by social mobility (85/100) and pulled down by value per dollar (47/100). Graduates earn a median $54,794 a decade after enrolling, 11% below this list's average, and net price runs $22,436 a year, above the field. Because the methodology weights social mobility (35%) and value (20%) above prestige, that mobility is what carries it up the list, even with below-average salaries.
Pillar breakdown
Why it ranks #24
University of St Francis lands at #24 with a 66/100 composite, led by academic quality (79/100) and pulled down by value per dollar (60/100). Graduates earn a median $63,926 a decade after enrolling, 3% above this list's average, and net price runs $13,006 a year, well under the field. Academics score well here, yet mobility (35%) and value (20%) carry the most weight, so outcome-per-dollar sets the final position.
Pillar breakdown
Why it ranks #25
University of Illinois Springfield lands at #25 with a 66/100 composite, led by value per dollar (73/100) and pulled down by social mobility (59/100). Graduates earn a median $57,103 a decade after enrolling, 8% below this list's average, and net price runs $9,833 a year, well under the field. Because the methodology weights social mobility (35%) and value (20%) above prestige, that low cost is what carries it up the list, even with below-average salaries.
Pillar breakdown
Carbondale, IL · 87% accepted · $13,297 net
Why it ranks #26
Southern Illinois University-Carbondale lands at #26 with a 62/100 composite, led by academic quality (67/100) and pulled down by social mobility (59/100). Graduates earn a median $53,390 a decade after enrolling, 14% below this list's average, and net price runs $13,297 a year, well under the field. Academics score well here, yet mobility (35%) and value (20%) carry the most weight, so outcome-per-dollar sets the final position.
Pillar breakdown
Why it ranks #27
Concordia University-Chicago lands at #27 with a 60/100 composite, led by social mobility (67/100) and pulled down by value per dollar (53/100). Graduates earn a median $54,089 a decade after enrolling, 12% below this list's average, and net price runs $18,436 a year. Because the methodology weights social mobility (35%) and value (20%) above prestige, that mobility is what carries it up the list, even with below-average salaries.
Pillar breakdown
Cut it by what you care about
The same 27 schools, re-ranked by the outcome that matters to you.
Where the programs — and the jobs are
Where these graduates work
Graduates of these programs most often become Management Analysts and related roles — a field with $99,410 median pay and 10% projected growth.
See the Management Analyst career guide →When considering an MBA program in Illinois, students are often weighing their options based on potential earnings and job prospects. With an average graduate earning $61,797, these programs are designed to provide a return on investment that can help students achieve their career goals while managing student debt.
What differentiates the top MBA programs from others is not just the prestige of the institution, but the tangible outcomes they deliver. Metrics like post-graduation earnings, completion rates, and average student debt give a clearer picture of what students can expect. For instance, Northwestern University leads the pack with impressive earnings of $89,363 and a high graduation rate of 96%, reflecting strong program effectiveness.
Take Northwestern and the University of Illinois Urbana-Champaign, for example. While Northwestern graduates earn $89,363 annually, the University of Illinois Urbana-Champaign's graduates earn $81,054. However, the latter has a significantly lower average net price of $14,355 compared to Northwestern's $29,167. This contrast highlights the trade-offs students need to consider as they evaluate their options.
The story behind the ranking
A ranking gives you an order; these charts give you the shape. They show how this group of schools spreads across the four things that decide whether a degree pays off — what graduates earn, whether they finish, how far they move up, and what it costs. Look for the standouts, the outliers, and the trade-offs the list alone can't show.
Earnings Outcomes
What graduates earn 10 years after enrolling. Data from College Scorecard.
Distribution of Median Earnings
Earnings vs. Net Price
Top-left = best value. Top-ranked schools are highlighted.
Completion & Access
Graduation rates and who gets in. Data from College Scorecard & IPEDS.
Graduation Rates
Pell Grant Rate vs. Graduation Rate
Right = more low-income students. Higher = more graduate.
What the Mobility Data Says
Social mobility carries the heaviest weight in this ranking, and the measure comes from Raj Chetty's Mobility Report Card, built from more than 30 million anonymized tax records. Across the 21 schools here with that data, the average mobility rate is 1.5%. That figure is the share of students who start in the bottom income quintile and climb to the top. Loyola University Chicago leads the group at 3.1%, with DePaul University (2.9%) and Saint Xavier University (2.8%) close behind.
Access varies widely. On average, 5.5% of students at these schools come from families in the bottom income quintile. Saint Xavier University enrolls the most, at 8.9%, a sign it is reaching the students mobility is meant to lift. A high mobility rate paired with strong access is the combination that changes a generation's trajectory.
For the low-income students who do enroll, the success rate (the odds of reaching the top quintile) averages 29.2% across the list, peaking at 55.2% at Northwestern University.
These campuses can also be measured on social capital: the cross-class friendships Opportunity Insights links to long-run economic outcomes. Economic connectedness here averages 1.68, where about 1.0 is the national norm, and Northwestern University is highest at 1.83.
Mobility, access, and social-capital figures from Raj Chetty's Mobility Report Card & the Opportunity Insights Social Capital Atlas.
Cost & Debt
What families actually pay and what students owe. Data from College Scorecard.
Median Debt at Graduation
Looking closely at the data, we see a clear pattern: Northwestern University outperforms the others in earnings and graduation rates. With $89,363 in average earnings and a 96% graduation rate, it sets a high bar. In contrast, the University of Illinois Chicago has an average earning of $68,740 and a graduation rate of only 61%. This gap highlights how institutional support and program quality can influence student outcomes.
For students and families navigating these choices, it's crucial to weigh this data against personal priorities. Consider factors like location, program fit, and financial situation when evaluating these programs. For instance, if you're looking for a more affordable option, the University of Illinois Urbana-Champaign might be appealing despite slightly lower earnings compared to Northwestern. Identify what matters most to you—whether it's a strong alumni network, a specific specialization, or lower debt—and let that guide your choice.
Ultimately, the data illustrates the importance of selecting a program that aligns not just with career aspirations but also with financial realities. The path from graduate school to a stable career is shaped by decisions made today. For one family, choosing the right MBA program could mean the difference between a manageable debt load and a lifetime of financial strain. Making a well-informed choice now can lead to a more secure future down the road.
Data Sources
U.S. Dept of Education College Scorecard
Opportunity Insights Mobility Report Card
Social Capital Atlas
Times Higher Education World Rankings
NCES IPEDS
Frequently Asked Questions
Best MBA Programs in Illinois: Your Questions, Answered
What is the #1 school in the Best MBA Programs in Illinois ranking? +
Northwestern University in Evanston, IL ranks #1 in our 2026 Best MBA Programs in Illinois ranking. It earns the top spot on the strength of a median $89,363 in graduate earnings ten years after enrollment and a 96% graduation rate. Our score is built entirely from federal data on graduation rates, graduate earnings, debt, and social mobility. Reputation surveys play no part.
Which program has the highest graduate earnings? +
Northwestern University posts the highest median earnings on this list: $89,363 ten years after enrollment, well above the $61,797 average across the 27 ranked programs with earnings data. Earnings that outpace cost are what separate a degree that pays off from one that does not.
Which program offers the best value? +
On a pure return-on-cost basis, University of Illinois Chicago leads: graduates earn a median $68,740 against net price of about $10,974 a year, the strongest earnings-to-cost ratio in the ranking. Applicants should weigh that payback against sticker price rather than prestige.
Which school has the highest graduation rate? +
Northwestern University has the highest graduation rate in this ranking at 96%, compared with a 61% average across the list. Completion matters because the students who finish are the ones who actually capture the earnings and mobility gains a degree promises.
How much does it cost to attend these schools? +
The average net price, meaning what students actually pay after grants and scholarships, is about $18,581 a year across the 27 ranked schools with cost data. University of Illinois Springfield is among the most affordable at roughly $9,833. Net price is a far better guide to affordability than the published sticker price.
How is the Best MBA Programs in Illinois ranking calculated? +
We score every school on a four-pillar algorithm: economic outcomes (graduate earnings and debt), social mobility (Raj Chetty's Mobility Report Card, built on more than 30 million anonymized tax records), academic quality (graduation and retention), and value (net price and loan burden). Social mobility carries the heaviest weight, so schools that lift low-income students into higher earnings rank above those that simply admit wealthy students. Every input comes from federal data, and schools that withhold their numbers are scored lower for it.
How many schools are ranked and where does the data come from? +
This ranking evaluates 27 institutions using the U.S. Department of Education's College Scorecard, the Opportunity Insights Mobility Report Card and Social Capital Atlas, Times Higher Education, and NCES IPEDS. There are no opinion surveys or paid placements. The order is determined by the data alone and refreshed as new federal figures are released.
Sources & Citations
Chetty, R., Friedman, J., Saez, E., Turner, N., & Yagan, D. (2017). Mobility Report Cards: The Role of Colleges in Intergenerational Mobility. NBER Working Paper No. 23618. →
U.S. Department of Education. College Scorecard Data. Federal Student Aid, National Center for Education Statistics. →
National Center for Education Statistics. Integrated Postsecondary Education Data System (IPEDS). →
U.S. News & World Report. Best Business Schools MBA Rankings. Used for MBA program validation. →
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