(Bloomberg News)

The University of St. Joseph announced this week the launch of a new program set to debut this fall: Dubbed the "4+1" program, incoming accounting and business management undergrads, with the appropriate GPA, will qualify for the University's management master's degree program - a fifth year of study - free of tuition.

Additionally, accounting majors at the school will be able to complete their necessary requirements to take the Connecticut CPA exam upon graduation.

“This opportunity provides students both an undergraduate and graduate degree – two degrees for the price of one," stated USJ president Rhona Free, via Patch.com. "USJ’s ‘4+1’ dual degree program is unique in Connecticut and is another distinctive way we prepare our students to become successful professionals in their chosen field of work and growing sectors of the regional economy.”

Free went on to say that the University has yet to decide if current students will qualify for the new program, according to Hartford Business.com. The women's college is also debating the admission of men - who are currently only admitted into the graduate and adult learning programs - into the 4+1 program, with Free calling it "the most important decision" currently surrounding the initiative.

For more on USJ and their accounting program, head to the University's site here.