In 2008, the University of Tulsa's business college was renamed the Collins College of Business for Fulton Collins, the chair of the university board of trustees who has helped the college grow and evolve during his tenure. The Collins MBA is available in full-time, part-time and online formats to accommodate student schedules. All of Collins' MBA programs are structured around a set of requirements, core classes, advanced core classes and foundational courses, as well as a mandatory corporate experiential component. Most classes are pre-set, and students can use their open electives to concentrate in five different areas, including energy management, MIS and finance. Students can further specialize in accounting, finance, MIS or taxation through additional course work. A joint JD/MBA allows students to study law and business concurrently. If students are not interested in an MBA, Collins also awards an MS in finance and an online master's degree in taxation.

Graduates land job placement around the state and in Texas via on-campus recruiting, internships or the alumni network. The energy sector is a big recruiter at Collins, owing to the proximity of many oil companies. Most students are part,time and working while earning their degree, which taxes social life somewhat, but the campus hosts a strong Greek system and many graduate clubs. The university has graduate housing available for students who want to get more involved in campus life, but apartments in surrounding Tulsa neighborhoods are also fairly cheap.