Updated December 15, 2020
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 affordable 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.
Read here about Online MBA Degrees from Non-Profit Schools
Finding A Lower Cost Online MBA
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.
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.
Is an MBA Online Worth It?
MBAs have become a kind of minimum degree for many of the more high paying jobs out there. The degree is unusually versatile, as it can prepare you for a position in virtually any kind of company. MBAs work in all sorts of technology, financial, insurance, manufacturing and other types of companies, and perform all sorts of functions from accounting to general management, marketing or sales. Part of the reason employers like to see this degree is that business has become so complex today that it requires a high level or managerial expertise to fun almost any type of department. Business school grads have an understanding of the reporting, financial projection and regulatory issues that affect companies far more today than they did just ten years ago.
Typical pay in the types of positions MBA degree holders are hired for is in the six figure range. And although you may choose to take an MBA degree in a specialty like marketing, finance or even project management, the key accounting and management skills you will gain should make it possible to change careers successfully if you eventually want to. In that sense, the MBA is far more flexible than a law degree.
MBAs From Ten 100% Online Colleges and Universities
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, based on cost per credit multiplied by the number of credits required for the online MBA degree (Sponsored Schools):
Purdue Global
Purdue Global is a public school with a very wide range of business degrees in addition to it’s MBA program. It has 29,000 students online, the majority of whom are female.
– Graduate cost per credit is $485.
– Purdue has a particularly favorable transfer credit acceptance policy for prior coursework, military service or life experience.
– International students outside the U.S. are eligible for a cost discount of up to 25%
Get Information on Purdue Global’s Online MBA Program
Tuition source: https://www.purdueglobal.edu/paying-for-school/tuition-fees/international-tuition-fees.pdf
Grantham University
Grantham is a Kansas-based university with schools of business, engineering and computer science, arts and sciences and nursing. It was established in 1951, and today offers all it’s courses online. It offers MBA degrees specialized in Administration, Information Management and Project Management.
– The cost per credit is on the lower end of the scale at $350.
– The standard MBA takes 24 months, though an accelerated MBA option is available that can be completed in 12 months.
– Grantham offers a range of scholarships and help with financial aid.
– It has a favorable transfer credit policy.
– Special tuition rates are offered for military, veterans or first responders & civil servants.
Get Free Information on Grantham
Tuition source: https://www.grantham.edu/online-degrees/business-administration-mba/
Colorado State University Global Campus
The Global Campus is the online branch of the Colorado State University system. Founded in 2007, this was one of the first fully online schools created by a public university. It now has over 19.000 students all over the world. It is accredited by the Higher Learning Commission. It offers a masters degrees in Finance and an MS in Organizational Leadership.
– Graduate cost per credit is $500., which puts CSU Global in a moderate cost range.
– The school has not increased it’s tuition rates for 7 straight years.
– There is no premium tuition charge for out-of-state students.
– A “tuition guarantee” is provided, to give students a solid rate for their total tuition they can know when they start a degree program.
– Alternative credit options for incoming students include competency based exams, Prior learning assessment, and other sources of credit that can cut down on the numbers of credits you need to earn your degree.
Find Out More About Colorado State University Global
Tuition source: https://csuglobal.edu/cost/tuition/tuition-rates
University of Southern New Hampshire
Southern New Hampshire University is an 80 year old private school that’s become very widely known for it’s career-oriented online degree programs. As a not-for-profit, the school is under less pressure to institute big tuition hikes each year than some other schools. Many degrees are offered on an accelerated basis. SNHU offers an array of MBAs including MBA Criminal Justice, MBA Accounting, MBA Finance, MBA Music Industry, MBA Internet Marketing plus others.
The official cost per grad credit is $627, but the full program is 36 credits, fewer than at many other schools.
– Up to 12 credits can be transferred in from another grad school.
– SNHU offers several scholarships, both need and non-need based.
– GRE, GMAT and SAT scores are not required.
Get information on Southern New Hampshire University
Tuition source: https://www.snhu.edu/online-degrees/masters/mba-online
Northcentral University
A non-profit fully online university of over 10,000 students with schools of Business, Technology, Education, Health Science and Social/Behavioral Science. The school charges a base cost per course at the MBA level of $3,159. It offers MBA degrees in over 12 specializations including Criminal Justice, Management, Entrepreneurship, Applied Computer Science, Project Management, Homeland Security and others.
– Reduced tuition of offered to active duty military, veterans and their spouses.
– A variety of options are offered to pay in full, pay by course or pay monthly.
– Northcentral has tuition aid agreements with many large companies across the U.S.
Get free info on Northcentral University Degrees
Tuition source: https://www.ncu.edu/tuition-admissions/financing
Walden University
A widely recognized name in online education, Walden is a Minnesota-based school with almost 50,000 students. It is regionally accredited by the Higher Learning Commission. Walden’s many Master’s of Business degrees include specializations in Finance. Leadership, Marketing, Social Entrepreneurship, Accounting and others.
– A fast track MBA program can reduce the cost of your degree significantly.
– A “competency based” program is offered with a unique fee schedule based on payments every three months.
– Up to 15 transfer credits are accepted into the MBA program.
Get Free Information on Walden
Tuition Source: https://www.waldenu.edu/online-masters-programs/master-of-business-administration/tuition-fees
Colorado Technical University
CTU actually has a small number of classroom students, but 92% of it’s teaching is done online. Founded in 1965 to training former military people in tech and vocational areas, the school now has 25,000 students in a wide variety of online degree programs. It offers MBA’s specialized in Technology Management, Project Management, Finance, Health Care Managment, Logistics, Data Analytics, Digital Marketing and several more. (a wide range of online business bachelor’s degrees are also offered by CTU). It’s $610. cost per credit hour is in a moderate range.
– CTU has an interesting “Fast Track” program that can allow an incoming student to earn credits for knowledge he or she may already have, that can potentially reduce the cost of a degree, and the time it takes, by up to 30%.
– A “Lifelong Learning Grant” is available that may provide up to $1,000 in financial help.
– CTU has nine different grant opportunities, a particularly high number. One is the Advantage Grant, designed to aid students who face unusually difficult personal or financial challenges in pursuing their degree.
Get info on Colorado Technical University degrees
Tuition source: https://www.coloradotech.edu/media/default/ctu/documents/tuition-and-financial-aid/Tuition-and-Fees-VIRTUAL-CIV.pdf
California Coast University
CCU is a for-profit school based in Santa Ana, CA, which has about 8,000 students, all online. According to Wikipedia, “Employers in the business community have been generally supportive of CCU graduates”. The school offers a low cost per credit (about $230.) on it’s MBA programs General Business Management, Healthcare Management or Human Resource Management.
– The school offers a guarantee that your tuition will not rsie for as long as you stay enrolled.
– 10% tuition discounts to active military or veterans, firefighters, government employees or employees of the schools business partners.
– CCU offers payment plans which are effectively loan programs at zero interest.
– Master’s students can transfer in up to 8 credits for learning done at another college.
Info on CCU
Capella University
Capella is a large school – over 38,000 students – that has a few learning centers around the country but delivers the vast majority of it’s teaching online. MBA offerings include Self-Designed, Healthcare MBA, Human Resource and Project Management MBAs. – Master’s degree tuition goes in a wide cost per credit range from $485 to $805., but with the school’s “FlexPath” offer, you can earn your MBA in 12 months for $11,000. in some cases. At a non-accelerated pace, the MBA program typically costs more in the range of $22,000.
– Students may qualify for a $3,000. grant under Capella’s “Progress Reward” program.
– Transfer students can save by using credits from another school, subject to approval.
– It’s possible to gain credit for knowledge you already have through a Prior Learning Assessment, potentially reducing the number of credits you need to complete for your degree.
Learn more about Capella
Tuition source: https://www.capella.edu/online-degrees/mba-program/
Grand Canyon University
Grand Canyon University is an Arizona-based school with over 70,000 online students. If offers M.B.A. programs in a dozen different specialties including Accounting, Finance, Leadership, Sports Business, Project Management and more.
The cost per credit is in a moderate range.
– Special tuition rates are offered for active duty and active reserve personnel.
– Transfer credits are accepted.
– Grand Canyon offers several scholarships to online students.
– GCU accepts direct payments from an employer who is paying for all or part of your degree program.
– The school’s website offers help in applying for FAFSA aid.
Get Free Info on Grand Canyon University
Tuition Source: https://www.gcu.edu/tuition-and-financial-aid
Today, there’s a strong variety of non-profit colleges offering programs online, and MBA degree have been a particularly strong area of growth. That’s because colleges across the board have realized that lots of the people who want MBAs are adult students with jobs (and often families as well) who don’t have time to get themselves to a classroom on a regular basis. Some schools have responded with abbreviated business programs online, but lots of others have moved to put their full MBA programs online.