With one of the cheapest online MBA programs, you could gain additional skills and qualifications in the business world. Moreover with a cheap MBA online, you can take courses at your own pace and complete the degree from the comfort of your home or office.
Online MBA programs are flexible, accessible, and perfect for working adults who want to earn a stellar credential that qualifies them for more significant professional opportunities. But there’s a problem. Many top online MBA programs are relatively expensive, especially since most students attend universities from out-of-state and must pay higher tuition costs.
However, there are plenty of affordable MBA programs that you can take online! You simply need to know where to look. Let’s break down 15 of the most affordable online MBA programs. Additionally, you can find each of these programs via GetEducated.com, and check out each school or program’s page for more information! The tuition rates for each school shown below are the yearly cost.
What is a Cheap Online MBA?
A cheap online MBA offers an affordable route to obtaining a master’s degree in business administration. Accredited universities offer these online programs. Given that, they provide students with the same level of quality education as more expensive programs. The cost savings come from using digital resources instead of traditional teaching methods such as lectures and textbooks.
Online MBA costs vary from school to school and depend on the number of credit hours you choose. For this reason, online MBA programs cost ranges from $11,550 to upwards of $125,589.
The least expensive programs are often referred to as “no-frills” or “barebones.” They focus on the basics and do not include additional activities such as internships. These programs are ideal for students who are on a budget but still want to get an education. You will find that these are primarily the types of programs we focus on in this guide. Therefore, you can take advantage of the most competitively priced programs without sacrificing quality.
Are Online MBA Programs Cheaper?
Yes, online MBA programs are usually (but not always) more affordable than traditional on-campus MBA programs. This is because the cost savings come from not having to pay for things like textbooks and classroom materials. In addition, students don’t have travel expenses for attending classes.
Note that this “discount” doesn’t just affect students. Schools don’t have to buy as many textbooks. Nor do they need to pay for as many in-person materials. Schools do have to pay for other resources, like technology fees/software prices. However, the net result is oftentimes a cheaper program for students.
The easiest way to see this is in housing and physical space. A classroom full of online students does not require 20 to 30 student housing units. In addition, it doesn’t require a full extra classroom of space. Since universities can save on these expenses and still make money from tuition, tuition can be cheaper for students. A cheaper tuition attracts students more frequently.
Naturally, students pay less for online education in many cases because they don’t have to pay for room and board, which is a huge proportion of typical college fees.
Online classes are cheaper in many cases because they are larger in terms of student count and can employ cheaper teachers. In many circumstances, it’s easier for teachers to deliver more class materials to more students in less time using online learning formats. Also, many schools offer discounts or scholarships that can help offset online MBA costs.
That all said, online MBA programs are not always cheaper. For example, attending a university from out-of-state is usually more expensive than attending the same school as an in-state resident, even if you attend the program online. Never assume an online MBA program is cheaper than the in-person counterpart, even if the trend generally holds.
Who Offers the Cheapest Online MBA?
The cheapest online MBA program is offered by University of the People. It is a highly-affordable, tuition-free program, with students paying $2,940 for their MBA. The online MBA program at University of the People provides students with a comprehensive education in business management, focusing on topics such as finance, accounting, marketing, and economics.
15 Cheapest Online MBA Programs Under $12,000
University of the People
Degree: Master of Business Administration
Student Fees In-State Total: $2,940The first entry is the University of the People, a tuition-free online university based in California. The Distance Education Accrediting Commission (DEAC) accredits their Master of Business Administration online degree. It’s offered as a part-time program. It consists of 12 courses that can be completed in as little as 15 months.
The program does not require any entrance exams like the GRE or GMAT. Hence, it is an ideal choice for those looking to pursue their MBA without having to worry about taking such tests. The program offers 8 concentrations in the following areas:
– Managerial Accounting
– Financial Management
– Marketing Management
– Organizational Theory and Behavior
– Management Information Systems and Technology
– Business Law, Ethics and Social Responsibility
– Operations Management
– Strategic Decision-Making and ManagementUniversity of the People stands out as a unique choice in affordable online MBA programs due to its tuition-free status and mission of providing accessible higher education opportunities for all. Moreover, it offers the cheapest online MBA. The University of the People is an ideal choice for those looking to pursue their MBA without having to worry about hefty tuition costs.
Georgia Southwestern State University
Degree: Master of Business Administration
Student Fees In-State Total: $7,710The second entry for cheapest online MBA is the Master of Business Administration at Georgia Southwestern State University. The Accreditation Council for Business Schools and Programs (ACBSP) accredits this program. And, students can enroll full or part-time. It consists of 36 credit hours and can be completed in two years or less.
The unique aspect of this MBA program is that it only requires one prerequisite course, Principles of Management, prior to enrollment. This makes it an ideal choice for those with little to no prior business experience. The program offers four concentrations:
– Accounting
– General Business
– Health Care Management
– MarketingThe Georgia Southwestern MBA is impressive for its optional international component. Students can choose to take part in an international travel experience to gain global business knowledge and cultural immersion. What’s more, Georgia Southwestern State University does not require GMAT or GRE.
Fayetteville State University
Degree: Master of Business Administration / General Business
Student Fees In-State Total: $9,026.24Fayetteville State University’s Master of Business Administration degree program is one of the cheapest online MBA options. The SACSCOC (Southern Association of Colleges and Schools Commission on Colleges) accredits this program. Thus ensuring students receive a rigorous, quality education.
Located in Fayetteville, North Carolina, this MBA features a flexible part-time enrollment. It can be completed in just two years. Students must complete 36 credits to earn the degree. They can choose to specialize in Business Analytics, Human Resources Management, or Project Management.
Fayetteville State’s MBA program requires students to have a GMAT/GRE score of at least 400.
One of the best aspects of this online MBA is its affordability—tuition for in-state students is $9,026.24. Furthermore, the program wows with an internship or a study abroad opportunity. With so much to offer at such an affordable cost, Fayetteville State University’s MBA program will appeal to many students on a budget.
Eastern New Mexico University
Degree: Master of Business Administration/General Business
Student Fees In-State Total: $9,487.50The HLC (Higher Learning Commission) accredits Eastern New Mexico University’s Master of Business Administration program. This program offers both part-time and full-time enrollment options. It consists of 30 credit hours and can be completed in as little as 12 months. The program offers a choice of two concentrations: Accounting or Business Analytics.
No GRE is required for admission if you have a GPA of 3.0 or higher. If your GPA is lower, you must have a GRE score of at least 450.
The program also has an experienced faculty. The faculty provide individualized instruction as well as access to cutting-edge business technology. This makes it an attractive program for those looking for an affordable online MBA.
East Carolina University
Degree: Master of Business Administration
Student Fees In-State Total: $9,540.63Our next entry is East Carolina University’s Master of Business Administration. This AACSB-accredited program is offered as a part-time, online program and consists of 33 credit hours. It also offers an option for a concentration in Health Care Management.
Students must have a GRE or GMAT score of at least 450, but waivers are accepted. So be sure to inquire about them if you don’t have a sufficient score.
This cheap MBA online stands out for its low tuition rate for in-state students—$9,540.63. This makes it one of the most affordable programs available.East Carolina University’s MBA also boasts a highly successful Career Center, which helps students find employment opportunities after graduation.
City Vision University
Degree: Master of Business Administration
Student Fees In-State Total: $9,700City Vision University offers an online Master of Business Administration program with a focus on nonprofit management. The DEAC accredits this 36-credit hour program. It can take less than two years to complete.
The City Vision MBA does not require the GMAT or GRE exam for admission. Therefore, it is ideal for those who want to pursue an MBA but lack the time or finances to study for a standardized admissions exam.
Additionally, the tuition rate is very affordable at $9,700—one of the cheapest online MBA programs available. The program features multiple start dates throughout the year. Additionally, it offers unique concentrations including Christian Community Development & the Social Justice Tradition, Social Entrepreneurship, and Mentored Ministry & Leadership.
Mississippi University for Women
Degree: Master of Business Administration
Student Fees In-State Total: $10,000The Mississippi University for Women offers an online Master of Business Administration. The SACSCOC accredits this program. Located in Columbus, Mississippi, this program has both part-time and full-time enrollment options with flexible start dates. The degree requires a total of 36 credit hours and can be completed in 10 months.
Concentrations are available in Healthcare Administration, Human Resources Management, International Business, and Organizational Leadership. You must have a GRE or GMAT score of at least 400 for admission to this program.
What stands out the most with Mississippi University for Women’s online MBA program is that it offers a fully-online option with no on-campus visits required. The university also offers access to a variety of resources, such as career services and academic advising. Additionally, the program is highly affordable, with tuition coming in at $10,000 for the entire program. This makes it one of the cheapest MBA online programs available today.
Albany State University
Degree: Master of Business Administration / General
Student Fees In-State Total: $10,160Albany State University’s online Master of Business Administration is an SACSCOC-accredited degree program. It takes as little as 18 months to complete. The program has a total of 36 credit hours, with concentrations available in areas that include Business Analytics, Corporate Finance, and Business Intelligence.
The Albany State MBA is offered online and requires GRE or MAT for admission. Scored cannot be older than 5 years. The tuition rate for this program is $10,160, one of the most affordable MBA programs online.
Undeniably, what makes Albany State University’s MBA stand out from the rest is its emphasis on practical skills and knowledge. The university works with employers to develop courses that are relevant to the current business climate, making it an ideal choice for those looking to stay ahead of the curve.
University of the Cumberlands
Degree: Master of Business Administration
Student Fees In-State Total: $10,165The University of the Cumberlands online Master of Business Administration program is a 36-credit hour, SACSCOC-accredited degree. It has multiple start dates throughout the year.
The program emphasizes leadership and management. Therefore, it offers concentrations in areas such as Accounting, Human Resources Management, International Business, and Logistics & Supply Chain Management.
This online MBA is offered in both part-time and full-time lengths and does not require the GRE or GMAT for admission. The tuition rate at $10,164 makes this one of the most affordable online MBA programs. It is one of the least expensive SACSCOC-accredited options available.The University of the Cumberlands also offers career services to help graduates find employment upon completion of their degree. Additionally, the program has an accelerated option that allows students to complete their degree in as little as 12 months.
Union College
Degree: Master of Business Administration
Student Fees In-State Total: $10,250The Middle States Commission on Higher Education accredits Union College. Its online Master of Business Administration program offers multiple start dates throughout the year. Additionally, this 36-credit hour program requires no GRE or GMAT for admission and can be completed in as little as 12 months.
The Union College MBA offers 7 concentrations. These include:
– Human Resource Management
– Supply Chain Management
– Healthcare Management
– Business Analytics
– Accounting
– Leadership
– MarketingTuition comes in at $10,250 for the entire program, ensuring students get the best value for their money. It’s also one of the most affordable MBA programs online.
In fact, what makes Union College’s online MBA stand out from the rest is its emphasis on real-world business concepts and techniques. The program utilizes a cohort learning model, which allows students to interact with peers, faculty, and professionals in the field. This enables each student to have access to a valuable network of contacts.
Amberton University
Degree: Master of Business Administration / General Business
Student Fees In-State Total: $10,525The Southern Association of Colleges and Schools Commission on Colleges accredits Amberton University. The school’s online Master of Business Administration / General Business program provides an affordable, quality education for those looking to advance their career in business. Additionally, it offers multiple start dates throughout the year. This 36-credit hour program does not require a GRE or GMAT for admission and can be completed in as little as 12 months.
The Amberton University online MBA offers concentrations in the following areas:
– General Business
– Management
– AccountingThe most important fact about Amberton University’s accredited online MBA program is its business education. Students will gain hands-on experience with real-world case studies, which will prepare them for success in their future endeavors.
Additionally, students receive access to a team of professional mentors and advisors who can help them through their studies.
Cameron University
Degree: Master of Business Administration
Student Fees In-State Total: $10,560The Higher Learning Commission accredits Cameron University. Its online Master of Business Administration program offers multiple start dates throughout the year. Additionally, it does not require a GRE or GMAT for admission for students with a cumulative GPA of 3.0 or higher.
This 36-credit hour program can be completed in as little as 12 months. Cameron University offers concentrations in General Business, Management, and Accounting. What makes Cameron University’s online MBA program stand out is its emphasis on practical business skills.
The affordable tuition rate starts at $10,560 for in-state students. Therefore, it is one of the best value online MBA that the Higher Learning Commission accredits.
Furthermore, students who enroll in Cameron University’s online MBA program will receive access to a wealth of resources. These include career services, financial aid counseling, and access to an alumni network that can provide students with valuable professional contacts.
The University of Texas-Permian Basin
Degree: Master of Business Administration
Student Fees In-State Total: $10,679.70The University of Texas Permian Basin is approved by the SACSCOC. It invites you to join their outstanding online Master of Business Administration program without having to take GMAT or GRE tests. In fact, this 36-credit hour program takes as little as 12 months to complete. It offers concentrations in:
– General Path
– Finance
– Accounting Emphasis
– Emphasis in Marketing
– Certificate in Energy BusinessThe University of Texas Permian Basin’s online MBA program stands out for its emphasis on real-world experience. Students can gain hands-on experience with case studies, simulations, and internships to prepare them for successful careers in business. Another key point is that the tuition rate of $10,679.70 ensures more students can sign up for the affordable course.
University of Montana
Degree: Master of Business Administration
Student Fees In-State Total: $10,760The Northwest Commission on Colleges and Universities accredits the University of Montana. Its online Master of Business Administration program is designed to help busy working professionals advance their careers while simultaneously working and attending to their daily lives.
To enroll in the University of Montana’s cheap online MBA program, you need to submit GMAT or GRE scores, although waivers are accepted. The 32-credit hour program is flexible, allowing students to choose their own pace and complete the courses on their own schedule.
This program offers concentrations in:
– Administrative Controls
– Financial Management
– Competitive Strategy
– Organizational Behavior
– Business Ethics
– Strategic Management
– International Business
– Quantitative Analysis
– Management of Information Systems
– Marketing Management
– Integrated ProjectUniversity of Montana’s online MBA program boasts a personalized approach to learning. The interactive learning platform allows students to ask questions and be involved in the discussion, all while working on their own time. Tuition starts at $10,760 for in-state students.
University of North Carolina at Pembroke
Degree: Master of Business Administration
Student Fees In-State Total: $11,025.15The Southern Association of Colleges and Schools Commission on Colleges accredits the University of North Carolina at Pembroke. Its online Master of Business Administration program has a GMAT/GRE requirement for admission.
The program consists of 36 credit hours, which students can complete in as little as 15 months. Concentrations are available in finance, business analytics, supply chain management, financial services, and healthcare administration as well as forensic accounting.
In fact what sets the University of North Carolina at Pembroke’s online MBA program apart is its emphasis on global business practices. Through interactive sessions, students gain an understanding of global markets and international business processes.
The tuition rate of $11,025.15 ensures this cheap online MBA program is within reach for a wide range of students. With its flexible schedule, global emphasis, and concentrations, the University of North Carolina at Pembroke’s online MBA program is all in all an ideal choice for busy professionals seeking to advance their careers.
What Factors Affect the Cost of Online MBA Programs?
In short, the cost of an online MBA program depends on the school’s tuition rates, the number of credit hours required for graduation, and the fees associated with the program.
Additionally, many educational institutions provide discounted rates or scholarships to students facing financial hardship. Moreover, the cost of an online MBA program varies based on the range and quantity of coursework provided as well as mandatory electives.
Finally, some programs offer additional services, such as career counseling or mentoring, which may affect the overall cost.
Cheapest Online MBA Programs: How to Choose
When choosing a cheap online MBA program, it is important to consider the following factors.
Concentrations
Look into what concentrations are available. Most online MBA programs offer common concentrations like strategy, finance, and marketing. However, there may be some unique concentrations to consider for, such as healthcare administration or entrepreneurship.
Understand the marketability of any given concentration and its associated return on investment (ROI). Different concentrations may be more in-demand than others. Therefore, it is important to consider this before making a decision.
Additionally, different concentrations typically cost different amounts. Therefore, it is important to research the cost of various concentrations. Review GetEducated’s cost rankings for the MBA concentration you’re interested in:
This research will help you make an informed decision based on your budget. Keep in mind pursuing different concentrations can broaden your job opportunities and give you more options for post-graduation employment.
Accreditation
It is important to make sure that the program you are considering has earned accreditation from a reputable source, such as the Association to Advance Collegiate Schools of Business (AACSB), Accreditation Council for Business Schools and Programs (ACBSP), or International Assembly for Collegiate Business Education (IACBE).
What is accreditation, you might ask. Accreditation ensures that the program meets educational standards and is recognized by employers. Generally, accreditation means a given MBA program covers core business topics. Classes meet high educational quality benchmarks (as determined by the accrediting body). The program adheres to ethical principles like fair and unbiased treatment of students. Lastly, the program is committed to student satisfaction goals, such as diversity benchmarks.
For example, the ACBSP’s accrediting standards include rigorous standards for leadership, strategic planning, a focus on students and stakeholders, comprehensive student learning assessments, faculty focuses and benchmarks, curriculum standards, and business unit performance standards. There are many affordable online AACSB accredited online MBA programs available. There are also AACSB MBA programs that don’t require a GMAT test score for admission.
Each accrediting organization has different but similar accreditation standards. Accreditation also guarantees the credits you earn from an accredited school are transferable to other schools. This is essential in case you decide to pursue higher education later on.
Program Particulars
Once you have narrowed down your list of potential schools, it is essential to compare their program particulars. These include tuition range, student-to-faculty ratio, student support services, location, admission requirements, and format.
The location of the school may make a difference in tuition rates. And some programs may offer more flexibility than others in terms of enrollment and scheduling (e.g., online, hybrid, synchronous, asynchronous). Consider if you are able to enroll as a part-time student or if you can work while pursuing your degree.
It is also crucial to research the common classes offered in an affordable online MBA program. Ask yourself how they may align with your professional goals. Many students enroll in online MBA programs to gain knowledge and skills that will help them advance in their current careers. Therefore, it is vital to pick the courses applicable to your job.
Furthermore, research the number of credit hours required to complete the degree. Additionally, analyze the range and quantity of coursework provided as well as mandatory electives. Finally, some programs offer additional services, such as career counseling or mentoring, which may affect the overall cost.
In summary, researching the factors associated with an affordable online MBA program will allow you to make an informed decision about which program best fits your needs and budget. With the right research, a best value online MBA degree can be an excellent investment in your future.
Is Getting an MBA Worth It?
It depends on what return on investment, ROI, you are looking for. Typically, an MBA will lead to higher salaries and career advancement opportunities. However, an MBA costs both time and money to receive. According to a report by Statista, 92% of employers from across all industry sectors plan on filling jobs with MBA graduates. The Corporate Recruiters Survey by GMAC shows the average salary for MBA holders was between 22 to 40 percent higher than those who just had a bachelor’s degree.
For example, marketing managers job listings on indeed.com state bachelor’s required, but MBA preferred. Therefore, if you have an MBA, you are a much better candidate, more likely to get that position, and to earn in the higher end of the offered salary range.
In summary, only you can decide if an MBA is worth it. Do the careers or promotions you’d like to pursue require an MBA? Will the time and money spent on an MBA be returned when you achieve the goal of a new career or promotion? An MBA from one of the aforementioned schools will earn you a degree without costing you a lot of money or time up front and will put you in a position to advance your career.
GetEducated's Picks
- William Carey University Master of Business Administration
- Alvernia University Master of Business Administration
- Western Governors University Master of Business Administration
FAQs
What does MBA stand for?
MBA stands for Master of Business Administration. Find out about online MBA’s in GetEducated’s definitive guide to online MBAs.
How many credits is an MBA?
The number of credits required to complete an MBA varies depending on the program and institution. Generally, most MBAs require between 30-48 credit hours of coursework. However, some programs may require more or less depending on the institution.
How many years for MBA degree?
The length of time it takes to complete an MBA degree depends on the program and institution. In some cases, you may be able to complete an MBA program in 12 to 15 months, whereas other programs may take two years.
What is the cheapest way to get an MBA?
The cheapest way to get an MBA is by pursuing an online MBA program. Specifically, you should look for online MBA programs that include tuition assistance such as student loans, scholarships, or internship opportunities. These will reduce the bottom line price tag you’ll have to pay. Alternatively, you could get an MBA by working for a business that values an MBA. Some businesses will pay for your education in exchange for your services after graduation.
Which is the best and cheapest distance MBA?
University of the People’s Online MBA program is considered one of the best and cheapest distance MBAs available. It offers an affordable fee as well as access to a network of experienced professionals.
Enroll in a Cheap Online MBA Program Today!
As you can see, the cost of college doesn’t have to prevent you from attending an outstanding online MBA program. The cheapest online MBA program options are a practical choice if you want to save some money but still earn a quality master’s degree in a subject like business administration.
Don’t forget to check out the rest of GetEducated’s online schools and program breakdowns. We’re here to help you find the ideal online educational pathway for your needs!