Because the business world is extremely pro-technology, schools that offer MBA programs were among the first to start using state of the art online tools provide students with digital chat capabilities, podcasting, video lectures, videoconferencing and more. Some business schools have even pioneered the use of games that include online learning components. And many programs have sprung up to help aspiring business managers get a master degrees at a very reasonable cost. Click to see best-priced MBA programs online
You won’t ever have to visit most of the online MBA schools out there, although a few universities may require a handful of campus visits to complete a program. A few state universities, where the cost of an online MBA is less for in-state residents, do ask students to attend some workshops or lectures in person to establish residency. Others may require that you take tests that are supervised by a school-approved proctor– which can generally be done in many different locations. It’s something you’ll obviously want to check out before signing up for a school, since you don’t want to sign up for an online school on the other side of the country and then be surprised to find you have to actually attend some classes there.
What It Takes
Tuition for online study is usually about the same as the school’s on-campus cost. But you can save big by simply not living at your school, as most grad students do. And by going the distance learning route, you should find more choices in terms of the number of schools and the business degree specialties they offer than you’re likely to find near your home. That’s especially true if you don’t live near a major city.
Your time commitment for a masters in business will likely run from anywhere from 11 months to four years. You’ll come out at the longer end of that spectrum if you need to take a reduced course load or take breaks from school to take care of work or family issues. If you’re in a big hurry, you might consider one of the more limited “executive MBA” programs out there, which can take less than 9 months. Many of these are more like certificate courses than a full Master’s of Business Administration degree. Alternatively, you might consider an accelerated MBA program, which can allow you to finish a full MBA in as little as 18 months — if you can work at a very intensive pace. It’s worth being aware that many online schools can help you set up an accelerated MBA program for yourself, even if they don’t advertise that option on their website. An added bonus is that, in some cases at least, you may be able to save some money by taking a higher than average number of course credits each semester.
A Range Of MBA Tuition Costs
According to geteducated.com, an online degree MBA can cost anywhere from under $10,000 all the way up to $115,000. Since you’ll have to make a lot of money quickly to justify a $100,000 plus investment, it’s a good idea to see if you can save by attending your state’s public university. If, however, you want an MBA from a school that’s recognized nationwide, or you want an MBA in a unique specialty, you may have to look at higher-priced private graduate schools.
Here are some examples of of the more moderately priced MBA schools (some with links where you can request information immediately):
America’s Cheapest MBA Degree?
The lowest cost online MBA degree we appears to come from Chadron State College, a small state school in Chadron Nebraska that has about 3,000 students. Its online MBA degree of 36 credits is offered a total tuition of under $10,000. It’s a general business degree, designed to build the skills of mid-level managers.
While that price is low, we can’t find anything wrong with this school. Chadron is part of Nebraska’s public college system, and is accredited by the Higher Learning Commission of the North Central Association of Colleges and Schools. It’s probably not realistic to expect an employer outside the midwest to recognize Chadron’s name, but for a basic grounding in business management, its online MBA program looks like a bargain. Chadron’s website is www.csc.edu. We don’t provide a direct link here because we’ve found their site has been down on several occasions.
Recommended Reasonably Priced Online MBA Programs
While it’s not advisable to choose a school only because of it’s price, the current economy has made it more important to get the most out of every dollar you invest in school. We make an effort to keep the list below up to date – it’s a good deal of work because many of the schools don’t like to display their tuition rates to openly. Here’s a current listing of good low cost online mba schools, starting with the lowest priced (all numbers for 2014-2015 academic year):
Grand Canyon University
GCU is a private, for-profit Christian school headquartered in Phoenix, Arizona, is ranked sixth among online colleges by the Online College Database. The school’s online MBA programs from it’s Ken Blanchard College of Business requires 51 graduate credits. Total in tuition for the degree is about $26,000. Grand Canyon’s MBA programs include accounting, finance, health system management, marketing, leadership and strategic human resource management. The school has been around since 1949, and is particularly well-known in the western US.
Get information on Grand Canyon University’s online MBA here
American Intercontinental University
One of the largest and best-known online schools, AIU’s programs are not generally at the low end of the cost scale. But their MBA degrees are well-priced at under $29,000. including all software and course materials. The school has 15 different specialties in business master’s degrees including:
– MBA Human Resources
– MBA International Business
– MBA Marketing
– MBA Organizational Psychology & Development
A number of MBA programs in finance, operations and other majors are also offered specifically for part-time students.
Get information on American Intercontinental University