<p>Really? I think you haven't been looking hard enough. You say you want an undergrad business program. Well, 10 of the US News-ranked top 25 undergrad business programs are in the Midwest:</p>
Ohio State #16
Notre Dame #16
Wash U #16
Michigan State #25 </p>
<p>Other rankings (e.g., Business Week) will vary slightly, but you'll find these business programs highly ranked in any legitimate ranking system. This is, in my view, an embarrassment of riches.</p>
I live in Missouri and I'd really like to stay relatively close to home.
I would prefer a private school.
<p>Ah, there's the rub. You want a strong undergrad business program, you want to stay relatively close to home, and you want a private school. Something's gotta give. The four strongest private universities in the Midwest are the University of Chicago, Northwestern, Wash U, and Notre Dame. You've already ruled out Wash U because it's too close to home, and Chicago and Northwestern because you don't like Chicago (but then again, they don't have undergrad business anyway). That leaves Notre Dame and, sensibly enough, you think you need more options. Fine. Then you're going to have to choose. You can stay close to home and apply to top business programs at some of the nation's best public universities; or go East and apply to comparable business programs at private universities far from home. Actually, come to think of it, there aren't even that many top undergrad business programs at private schools in the East: Wharton (Penn), MIT, NYU, Carnegie Mellon, Georgetown, Babson, BC, that's about it. </p>
<p>Or you could apply to some combination of the two and decide later which criterion is more important to you. I should warn you, though, that admission to Michigan's undergrad business program, considered by many people (including US News) the best in the Midwest, is almost as hard as admission to Penn's Wharton School. The stats for undergrad business students are several notches higher than those for the University as a whole, generally right in the same ballpark as Wharton's.</p>