Our 2020 ranking of the Most Affordable Online MBA Programs will help you find the lowest cost online MBA to meet your needs. While these may be the cheapest online MBA programs in terms of cost, they are not cheap in terms of reputation or educational excellence. Every program on this list is highly respected and fully accredited.
Affordable Online MBA Programs
An online MBA deals with leadership training in business areas like change management, problem-solving, critical thinking, and managing businesses with clarity and purpose. High-quality distance education from a respected business school does not have to cost an arm and a leg. Some of the nation’s best institutions for business leadership training provide students with an incredible tuition rate that allows them to save significantly. Today’s business leaders need to be analytical thinkers, and that starts with selecting an online MBA program that features an attractive tuition rate.
This list of the Most Affordable Online MBA programs is based 100% upon each program’s base tuition. Each of the cheapest online MBA programs listed here can be finished with a base tuition rate under $13,000. This allows students the educational excellence and a great MBA brand without breaking the bank.
All tuition information was taken directly from each university’s website. The ranking order is based upon the base tuition amount for the entirety of the online MBA degree, which excludes all fees and books. The Affordability Score provides a snapshot of where each program’s cost ranks relative to others on a 100 point scale.
Augusta UniversityJames M. Hull College of Business
Augusta University delivers an affordable online MBA at the James M. Hull College of Business. The Hull online MBA provides distance learners with the skills, professional network, and experience they will need to advance in today’s highly competitive and dynamic work environment. Georgia WebMBA online program has been designed for working professionals who want to earn an advanced degree without the restrictions of set class locations and times often associated with a traditional format. The online MBA at Augusta University is offered as a cohort, team-based degree designed for today’s modern working professional. The experience includes an in-person orientation in Atlanta and two courses each semester for five consecutive semesters. James M. Hull College of Business delivers an internationally accredited, accelerated format through a consortium of Georgia colleges. Students can expect a tuition rate well below $10,000. The degree consists of ten courses that translate into 30-credit hours. Augusta’s three pillars for business leadership success are Invest, Engage, and Advance.
Fayetteville State UniversityBroadwell College of Business and Economics
Fayetteville State University delivers an affordable online MBA at the Broadwell College of Business and Economics. The business school provides various graduate certificates and degrees, an outstanding faculty, and flexible online formats. Value-minded distance learners will appreciate the affordable tuition rate of between $5,000 and $10,000. Some of the specializations graduate students choose from include General Business, Project Management, Business Intelligence and Data Analytics, Management, Marketing, Health Informatics, Finance, and Entrepreneurship. With a mix of in-class and online courses and MBA degree emphases or graduate certificates, FSU has the right program for the distance learner interested in broadening their horizons. The business school offers a responsive faculty and gives graduate students access to learning when and where they need it. Busy professionals, local leaders, international learners, deployed military members, and average value-seeking students will find a program tailored to their needs.
Georgia Southwestern State UniversityCollege of Business and Computing
The College of Business and Computing at Georgia Southwestern State University offers an affordable online MBA. This stellar online degree provides solid business training that integrates data from a variety of functional areas, the expertise of a respected faculty, and the business school students’ real-world experience. The online degree reinforces reliable service, values, and ethics as it acknowledges the multicultural influences that drive today’s market. Georgia Southwestern State University’s program is based on developing key competencies that help build a lifetime of success. The online MBA degree in business trains distance learners in a broad range of skills and knowledge, including finance, management, ethics, international business, and marketing as a foundation for careers as successful managers. Graduate students achieve expertise and knowledge for successful performance in a complex business environment requiring an intellectual command to organize work, the ability to communicate sound decisions, and respond to unanticipated events. Budget-minded graduate students will appreciate the attractive tuition rate.
Louisiana Tech UniversityCollege of Business
An affordable online MBA is featured at Louisiana Tech University’s College of Business. Graduate students ready to pursue the next level of business education will want to look into the College of Business that now offers five MBA delivery formats geared to fit the various needs of today’s modern business student. Regardless of what stage they are in their career path, whether they are fresh from their undergraduate program and ready for the next step or already in their field for some time, graduate students will want to take a look at Louisiana Tech’s offerings. The business school offers programs tailored to fit a plethora of career goals, from the traditional MBA to an executive-level degree. Online classes are a perfect fit for those who prefer to pursue their graduate education in business at their own pace. Louisiana Tech University offers this online MNBA with a tuition rate of well below $10,000.
Texas A&M University-TexarkanaCollege of Business, Engineering, and Technology
The College of Business, Engineering, and Technology at Texas A&M University-Texarkana provides an affordable online MBA. Program designers have constructed a 100% online MBA that helps build and enhance the skill set graduate students need to compete in today’s fast-paced global marketplace. Working professionals managing their own businesses or trying to advance their careers to the next level will benefit from the A&M-Texarkana MBA program. This stellar degree gives graduates a competitive edge with its unique class design approach, affordability, flexibility, and diverse specialization options. The A&M – Texarkana MBA program features partnerships with local organizations that results in its courses, which ensure that current and future industry needs are met. Graduate students regularly engage in robust discussions with peers and faculty that serve to enhance the learning dynamic while offering a productive environment that stimulates problem-solution and critical thinking development. The A&M – Texarkana online MBA strives to meet the ever-changing needs of the industry by incorporating a global approach to leadership and critical thinking.
Southern Arkansas UniversityDavid F. Rankin College of Business
An affordable online MBA is available at the David F. Rankin College of Business at Southern Arkansas University. The online MBA’s general business concentration curriculum includes graduate-level coursework in accounting, economics, management information systems, finance, marketing, organizational theory, strategic management, and quantitative analysis. In addition to this, critical perspectives are also emphasized within the degree program. The aspects include ethical, environmental, global, political, legal and regulatory, and social issues. Students will be sharpened in technology, demographic diversity, and verbal and written communication skills. This online MBA’s latest option is the Social Entrepreneurship specialization, which is delivered as a 36-hour program aimed at providing graduate students with the knowledge and skills to support and implement business-led initiatives that achieve social aims. The agriculture business focus is a 33-hour distance degree, which requires 24 hours of graduate coursework with nine hours of agricultural business electives. This 30-credit hour online MBA from Southern Arkansas features an attractive tuition rate.
University of North Carolina at PembrokeSchool of Business
An affordable online MBA is offered at the University of North Carolina at Pembroke’s School of Business. This stellar 36-credit hour program has been designed to help graduate students succeed in almost any business environment. UNCP’s 100% online MBA is the most versatile professional degree one can earn in business. Whether students want the credentials to advance in their current organization or start their own company, the AACSB-accredited online MBA that features an affordable tuition rate of less than $10,000 can help them get there. Distance learners enrolled in this program will be exposed to all of the significant aspects of business, including Marketing, accounting, finance, and economics. Program facilitators place a particular emphasis on students developing their management and interpersonal skills. The curriculum includes lessons on examining the nature of human behavior, organizational processes and structures, the impact of an organization’s financial decisions, and the vital elements of international business.
West Texas A&M UniversityPaul and Virginia Engler College of Business
An affordable online MBA is currently available at the Paul and Virginia Engler College of Business at West Texas A&M University. The online MBA degree offers five concentrations and is available as a 100% online asynchronous format that meets the degree requirements. Graduate students who do not wish to complete the entire program online may be able to achieve some coursework on campus and the online module. The Paul and Virginia Engler College of Business online MBA program is designed for full time working professionals. Program leaders allow distance learners up to six years to complete all program requirements. This extended completion time is an excellent complement to a graduate student’s work-life balance. Many distance learners will complete the program in two years. West Texas A&M University students may choose their course load each term within five semesters each year. Students in the MBA program can earn a general MBA or seek a concentration in Computer Information Systems, Marketing, Healthcare Management, or Management.
Arkansas Tech UniversityCollege of Business
The College of Business at Arkansas Tech University offers an affordable online MBA. Program designers have crafted an online degree that provides a graduate business education for working professionals who want to further their business training beyond the undergraduate level. The 30-33 credit hour program offers a general business track, MBA with a Business Data Analytics specialization, and an MBA with a Digital Marketing emphasis. Each of the MBA courses is delivered 100% online. The program’s goal is to prepare distance learners for successful business careers in leadership and management roles with a specific focus on helping students develop critical information-analytical skills and data-driven problem-solving skills needed in today’s fast-paced global business world. Courses include Accounting Analysis, Business Information Analysis, Managerial Economics, Corporate Financial Management, Organizational Management & Leadership, Decision Modeling in Supply Chain Management, and Corporate Strategic Management. Budget-minded graduate students will appreciate this online degree’s attractive tuition rate, which sits well below $10,000.
Henderson State UniversitySchool of Business
Henderson State University offers an affordable online MBA at the School of Business. Students interested in this program can expect small class sizes, excellent professors, and a team atmosphere that has stood the test of time. Business school professors are experts in their academic fields who have acquired advanced degrees from some of the nation’s most respected business schools. In addition to this, the faculty brings vast experience in both the small business and corporate worlds. These facts combine to create the best possible graduate business experience for online learners. Within the School of Business’ online option, a graduate student will usually complete two courses per term. Each online class will have a self-paced component with two-weekend classroom sessions that meet on Friday nights and Saturday during the day. The weekend sessions can be completed in class or online using the business school’s video conferencing technology. Henderson State’s blended format provides maximum flexibility without students needing to sacrifice quality.
University of Texas Permian BasinCollege of Business
The College of Business at the University of Texas of the Permian Basin provides an affordable online MBA. UT Permian Basin’s AACSB-accredited online Master of Business Administration Accelerated degree is designed to give distance learners the performance-based comprehension and people-focused management skills that employers are currently seeking in business today. UTPB’s online MBA program graduates will be aptly equipped with the confidence and abilities they need to take on competitive leadership positions in business, sales, management, finance, information technology, or marketing fields. Graduate students who want to move up in their current professions, change career paths altogether, or start their own business will find that this 100% online program will put them on the right track. Each online course is delivered by the same respected UTPB instructors who teach on campus and are committed to continuing mentoring their students. The University of Texas of the Permian Basin has priced this degree at less than $10,000 in tuition.
Texas A&M International UniversityA.R. Sanchez, Jr. School of Business
The A. R. Sanchez, Jr. School of Business at Texas A&M International University currently features an affordable online MBA. Graduate students can expect to develop a broad range of essential business and leadership knowledge in the online MBA in Management program. Distance learners will gain the confidence and comprehension they will need to become valuable contributors to the success and growth of any established institution or entrepreneurial venture. Enrolled students are sure to acquire crucial skills in management, marketing, finance, and more with a dynamic curriculum mixed with an international flair. This affordable online MBA’s core curriculum features seminars in marketing management and management concepts. It deals with a wide range of topics in human resource management, theoretical management perspectives, leadership and ethics, and organizational behavior. Business school candidates not holding an undergraduate degree in business and those who haven’t taken many business courses will find the business school’s prep-module courses helpful in bringing them up to speed. Each prep-modules are two-credit hour credits that include basic concepts in finance, marketing, economics, accounting, management, and information systems.
Missouri State UniversityCollege of Business
The College of Business at Missouri State University provides an affordable online MBA. Missouri State’s online MBA program includes 18 hours of foundational courses. This crucial foundation consists of six graduate-level courses designed to provide accelerated exposure to the knowledge base graduate students require to benefit most from the MBA curriculum. Courses include Accounting Concepts for Managers; Fundamentals of Economics; Managerial Finance; Administrative, Organizational, and Operations Concepts for Managers; Legal Environment for Business Managers; and Statistical Methods in Business Research. Some business school candidates will be exempt from each of these courses based on their previous academic experience. The 33-credit hours within this affordable online MBA are divided between 24 core requirements and nine other requirements. Graduate students are expected to demonstrate writing and research proficiency appropriate to the business field environment. Business school leaders require significant written projects within each of the core courses. Instead of the seminar course and one elective, a distance learner may complete a thesis for six hours of program credit.
University of Nebraska at KearneyCollege of Business and Technology
The University of Nebraska at Kearney’s College of Business and Technology provides an affordable online MBA. Business school leaders have designed the 33-credit hour program to prepare students with the networking, knowledge, decision-making, leadership, and critical-thinking skills they will need to successfully manage a company and its core functional areas. Unique to the UNK experience, the online MBA degree is built for optimal impact. It is a blended program designed for flexibility and convenience while providing the benefits of live interactions with faculty and peers. “Blended” includes flexible online courses that fuse online coursework convenience with the traditional effectiveness of face-to-face interactions. Virtual and in-person interactions are based on the graduate students’ preferences. These formats ensure a robust learning experience for the College of Business and Technology students. This format has proven to be vital in enhancing the University of Nebraska at Kearney students’ skills for today’s rapidly evolving global economy.
Western Carolina UniversityCollege of Business
Western Carolina University’s College of Business provides an affordable online MBA. Graduate students enrolled in this program can attend classes at the School’s campus in Biltmore Park or take all classes through a 100% online format. Students may also wish to enroll in the program on a part-time or full-time basis. The 36-credit hour degree can be completed in as few as 16 months. A hybrid option is also available to students with access to the campus but also want the added flexibility and convenience found in an online program. The business school provides three start times each year. A tuition rate of just over $10,000 is advertised for this program. Program designers crafted the MBA curriculum in collaboration with business owners in western North Carolina, recent MBA graduates, and WCU College of Business faculty. Graduate students exit the online program ready to meet aspiring graduates’ employment requirements and the local business community.
University of New OrleansCollege of Business Administration
The College of Business Administration at the University of New Orleans provides an affordable online MBA. This excellent online MBA has been designed to satisfy the needs of graduate students with or without a bachelor’s degree in business administration. For business school candidates with a bachelor’s degree in business administration, the 100% online MBA curriculum consists of 33 hours of advanced core courses. Foundational leveling courses are required for all students lacking an undergraduate degree in business administration. The included foundation courses consist of nine additional credit hours. They are intended to provide the academic background needed by graduate students with degrees in areas other than business for success at the graduate level. All foundation courses are waived for AACSB business undergrads with a grade of “C” or better. The emphasis within the program is placed on the development of decision-making and problem-solving abilities. To that end, business simulation and illustrative cases are utilized in the classroom, along with traditional lecture techniques. The MBA program capstone is known as the “Seminar in Business Policies.”
Pittsburg State UniversityKelce College of Business
The Kelce College of Business at Pittsburg State University provides an affordable online MBA. This stellar MBA program consists of traditional on-campus classes, online, and hybrid courses. Consisting of 30 credit hours, the MBA curriculum includes seven core courses and three electives that equal ten courses altogether. Each term, half of the core MBA courses are delivered online, and the other half are offered in the traditional classroom. In the following semester, the classes are switched as the regular in-class courses are delivered online. There are three delivery systems: a graduate student may take all their core courses in-class, or 100% online, or a hybrid mixture of the two. Business school candidates with bachelor’s degrees in business, the entire program may be completed in just one and a half years, depending on the distance learner’s full-time or part-time status. All students with non-business backgrounds will have the timeline extended with the prerequisite subject areas of accounting, economics, business finance, business statistics, and organizational theory & behavior.
Clayton State UniversityCollege of Business
An affordable online MBA is currently available at the College of Business at Clayton State University. Business school leaders understand that for graduate students to compete in today’s modern global economy, they must be equipped to tackle any business leadership challenge with innovative and relevant solutions. Clayton State gives distance learners the skills they will need to be tomorrow’s business leaders. The 100% online Master of Business Administration at the College of Business at Clayton State University allows graduate students to study general business or concentrate on one of five high-demand areas of business, including Accounting, Supply Chain Management, Digital Marketing, International Business, and Human Resource Leadership. College of Business representatives believe that earning an MBA should be convenient. Clayton State is committed to making dreams come true with a 100% online MBA degree accredited by the AACSB-International. This stellar distance degree can be earned in as little as 12 months. The excellent tuition rate of far below $15,000 means students get lots of bang for the academic buck.
Western Illinois UniversityCollege of Business and Technology
Western Illinois University offers an affordable online MBA at the College of Business and Technology. Business and liberal arts graduates, including those with engineering, science, mathematics, and other fields. Individual program requirements are based on previously experienced coursework and may range from 33 to 54 semester hours. Graduate students interested in this program have three format options to choose from, including 100% online, on-campus, and a hybrid Livestream option. Students with access to the School’s campus in Macomb, Illinois, may be interested in day or evening courses. The College of Business and Technology’s internship and assistantship opportunities have been put in place to allow students to combine their work and education experiences. Instructors with doctoral and law degrees from over 40 internationally recognized universities make up the School’s faculty. The accessible faculty prides itself on student mentoring and being available to online learners. Classes at the College of Business and Technology average about 20 students in size.
Sam Houston State UniversityCollege of Business Administration
The College of Business Administration at Sam Houston State University provides an affordable online MBA. Program architects have crafted this 36-credit hour degree to help develop candidates for vital positions of leadership in today’s modern organizations and institutions. Graduate students desiring to pursue their doctoral studies in business will also find this affordable online MBA to be an excellent value. This program emphasizes the synthesis and integration of various business disciplines to develop a distance learner’s ability to function in a dynamic working environment and make reliable administrative decisions that maximize the organization’s contributions and value. Qualified students from any academic discipline are best suited for this 100% online MBA. There are three start times for this program each year during the fall, spring, and summer semesters. The tuition for this program is just over $10,000. Currently, the business school at Sam Houston State offers $1,000 in scholarships for newly enrolled 100% online students.
Emporia State UniversitySchool of Business
Emporia State University provides an affordable online MBA at the School of Business. This incredibly accessible online MBA features six start dates and a streamlined admission process. Students not interested in posting a GRE or GMAT score during the admission process will appreciate the available GMAT waiver. As distance learners continue their programs, the case study-driven coursework means they can apply what they learn immediately to their current positions. Plus, the capstone course in the accelerated program allows graduate students to integrate many aspects of their learnings, while also demonstrating competency of the managerial role in strategic development and policy formulation. In addition to its core coursework, this 33-credit hour online MBA includes nine hours of electives that deal with subjects like Consumer Behavior, Systems Analysis, Design and Marketing Analytics, and Electronic Marketing. Students are encouraged to customize their coursework to match their professional interests. MBA concentrations include Accounting, Marketing, and Information Systems.
Lamar UniversityCollege of Business
An affordable online MBA is featured at Lamar University’s College of Business. This 100% online MBA program features 30-credit hours of high-octane business leadership training. It has been crafted to provide graduate students with a comprehensive business and management education that includes core managerial accounting and finance knowledge and international management, marketing, strategic management, and economics courses. The 100% online course format allows distance learners to study and attend classes around their active schedules. An accelerated, 8-week course format enables students to graduate faster than in a traditional campus-based degree. Online MBA students with an undergraduate business degree can earn their MBA in as few as 16 months. The same nationally recognized instructors who teach on campus in the classroom offer expert instruction and are accessible to distance learners. Lamar University is a nationally recognized leader in online education. It provides graduate students with many opportunities to grow their careers through affordable, high-quality online programs.
Southeastern Oklahoma State UniversityJohn Massey School of Business
An affordable online MBA is delivered at Southeastern Oklahoma State University’s John Massey School of Business. At Southeastern Oklahoma Online, graduate students can prepare for success through a 100 percent online, accelerated MBA program. Each of the business school’s online Master of Business Administration programs provides distance learners with essential business skills in strategic management, finance, marketing, and emphasis courses in their chosen fields. Students can choose which of the John Massey School of Business AACSB-accredited MBA online programs is right for them. Each of the business school’s programs can be completed in just 12 months. The attractive tuition rate for this 36-credit hour program sits well below $15,000. Concentrations include Women in Leadership, Native American Leadership, Project Management, Marketing, Data Analytics, Finance, and Healthcare Information Systems. A simple admission process means there is no GMAT required to apply. Program candidates lacking a bachelor’s degree in business can have their prerequisites satisfied with four one-week online leveling classes
Jacksonville State UniversitySchool of Business & Industry
The School of Business & Industry at Jacksonville State University provides an affordable online MBA. Two options for this 100% online degree are available. Students choose between the MBA General program and the MBA Accounting. School of Business & Industry leaders also offer an area of concentration in Administrative Management as part of the Master of Public Administration degree. The AACSB International accredits the business school at Jacksonville State University. Many research opportunities are available to long-distance graduate students under the supervision of the School’s instructors. Real-world case studies are made available through the School’s Small Business Development Center. Internships through the business school enable graduate students to acquire on-the-job training as they gain work experience. The curriculum may be completed 100% online or through a hybrid format. It consists of 33 credit hours for the MBA with a specialization in Accounting and 30 credits of coursework for the General MBA. Graduate students entering the program without a bachelor’s degree in business may be required to complete up to 24 credit hours of leveling coursework.
Southern Illinois University EdwardsvilleSchool of Business
An affordable online MBA is currently available at the School of Business at Southern Illinois University Edwardsville. Program designers have created an affordable degree designed to develop the professional abilities of leaders working in business. Core courses in decision-making and quantitative analysis sharpen graduate students’ ability to apply models, acquire skills, and integrate data knowledge across a multitude of disciplinary areas. Distance learners can select a focus in project management, business analytics, management information systems, and a general specialization, which includes four elective courses that will accommodate their specific career objectives. The program’s accelerated seven-week courses feature the two options of Flex and Accelerated. In the Flex scenario, students take hybrid courses that meet one evening each week with online assignments or 100% online courses to fit their schedules. The Accelerated format includes 100% online coursework. International students are currently ineligible to receive a visa for this format. Six start dates each year are offered for both flex and accelerated options.
Graduate students interested in pursuing an MBA may be concerned about the expenses associated with pursuing the degree, acquiring loans to pay for the degree, and whether or not the investment will help them find better-paying jobs. Positions requiring MBA degrees, like marketing managers, can earn graduates well over $100,000 annually, as reported by the U.S. Bureau of Labor Statistics (BLS). Because of this, MBAs can most-assuredly improve income and future career prospects.
But how should one regard the costly investment of a graduate degree? Fortunately, opportunities are seemingly limitless for prospective graduate students seeking affordable MBA programs. Some of these degrees are delivered as affordable online MBA programs, while some business schools offer inexpensive on-campus degrees. The implied association of “affordable” and “low-quality” may scare some program applicants off.
To this end, it is crucial to research and find the best affordable, high-quality online MBA programs that will help students in their quest to find a top-notch degree that will result in more career opportunities. A designation of “affordable” will typically mean advertised low tuition, excellent financial aid resources, and inexpensive online options.
Affordability should always factor in graduate students’ online MBA program decisions; however, distance learners must also consider their career aspirations and which specialization options best suit their needs.
What Are Some of The Variables that Go into Evaluating a Program’s Value?
Accreditation is Important for an Online MBA
Graduate students pursuing affordable online MBA programs need to make sure their chosen business schools hold a respected accreditation. Today, regional accreditation is the mark of the highest standard of excellence. It is exclusively reserved for nonprofit institutions. National accreditation usually applies to the nation’s for-profit schools. Prospective distance learners may also seek advanced programs that boast programmatic accreditation through the Association to Advance Collegiate Schools of Business, the IACBE, or the Accreditation Council for Business Schools and Programs. Programmatic accreditation assesses and evaluates specific degrees to ensure they optimally prepare students.
Affordability is Important for an Online MBA
Top online business programs must do everything to ensure that graduate students have the opportunity to graduate without incurring personal hardship or overwhelming debt. Business schools will sometimes offer lower tuition rates or reduced rates for online distance learners. Some programs bridge the affordability gap by providing financial aid to their online MBA students. Some universities even offer 100% of all online MBA students some financial assistance.
Post-Graduation Success is Important for an Online MBA
Online MBA degrees will often advertise their new graduates’ success by sharing alumni employment statistics, salaries, promotions, and impressive employers/firms. Business school candidates can also evaluate a particular program’s graduate student satisfaction level by researching that program’s graduation rates. Business schools with graduation rates of 70% or better tend to reflect a very positive student experience. Within U.S. News and World Reports trusted university ranking system, Graduate Rate Performance is one of just five factors used to rank programs.
Online Resources Available to Students are Important for an Online MBA
The most affordable online MBA degrees will ensure that distance learners have similar access to university resources as their traditional on-campus counterparts. These resources may include networking opportunities, career centers, libraries, and tutoring programs. Online distance learners also have access to student-to-teacher ratios. Low ratio numbers often translate into more personal attention from instructors and professors. Programs with substantial numbers of online students will often prioritize distance learners and commit significant resources to their educational experience.
A High-Quality Curriculum is Important for an Online MBA
Business school candidates need to consider their situations, including their future career goals and educational background. Some factors, like accreditation, will always matter. Distance learners aiming for high-level executive roles in major corporations may also highlight student outcome data and alumni networks’ size. Potential online MBA students with business backgrounds will want to look for a curriculum that focuses on more emphases than on MBA core courses.
Graduate students seeking affordable online MBA degrees can count on opportunities to match their goals with prospective business schools.
How Can One Make Affordable MBA Programs Even More Cost-Effective?
Prospective business school students can potentially decrease online MBA program costs by understanding some of the following factors and then weighing them against personal career goals.
Some Online MBA Programs Require Travel
When weighing a traditional on-campus MBA against an online experience, graduate students may need to be prepared to account for some travel expenses. Some of the best online MBA programs require enrolled students to visit the university or college campus for orientation, residencies, or immersion events. These events can provide excellent networking opportunities, but graduate students need to estimate travel expenses and weigh them against potential gains.
Class Size Can Matter Within an Online MBA Program
Smaller class sizes often directly translate into personalized attention and direct access to instructors. Traditionally, programs with low student-to-faculty ratios will tend to be more expensive. Prospective business school students should consider their individual learning styles and decide whether or not they can potentially thrive in a larger class setting.
Institutional Prestige is a Bonus When Considering an Online MBA
Some employers will take note of job candidates who have acquired degrees from prestigious institutions. Business school reputation is an essential factor to consider. These institutions of higher learning are aware of the marketable value of their reputation. Some schools charge its students a higher tuition rate as a result. Prospective students need to carefully consider if paying higher tuition rates for a school’s prestige will help them achieve their career goals. Better yet, look for a school that has a good balance between prestige and tuition cost.
Online MBAs May Feature Lower Tuition Rates than their On-Campus Counterparts
Affordable online MBA degrees may offer reduced tuition rates to distance learners. Business schools will sometimes provide opportunities for out-of-state students to pay the same tuition rates as in-state students. With the convenience and flexibility of online programs, distance learners can study from virtually anywhere in the world and keep working while earning their graduate degrees.
Some Online MBA Programs Do Not Require the GMAT
For years now, online MBA schools have used the GMAT as a benchmark to pinpoint prospective students for admission into their programs. The GMAT placement test exists as a great tool during the admissions process, but many potential graduate students do not feel comfortable taking such a high-pressure test. For those distance learners, some of the nation’s best online MBA programs no longer require applicants to provide GMAT test scores. Not having to take the GMAT saves graduate students time and money.
An online MBA is an excellent option for working professionals desiring to ramp up their careers. As you can see, there are some excellent reasons to consider an affordable online MBA. When comparing programs, take your time, weigh the factors, and reach out to business schools to gather relevant and current information.