MBAs are typically known as being one of the more costly degree programs which students can earn after undergrad, which is why it is so essential for many students to find programs that are cost-efficient but still teach the same lessons. Online MBA programs can range from $7,000 for the program up to $109,000. This wide disparity largely depends on accreditation status; lower costing schools typically lack accreditation or disguise themselves as having accreditation from a false institution. The costlier schools are typically online classes from traditional high-end MBA programs that altered their programs to become accessible online. Other factors come into play in making some MBA programs less costly than others, including geographic location and funding.
Many cheap MBA programs are either unaccredited or accredited by the Distance Education and Training Council, which keeps the cost low for many online schools. The average school that is accredited by the Distance Education and Training Council only costs $12,700 for the full degree program. Additionally, nine schools accredited by the Council offer MBA degrees under $10,000. While DETC accredited schools are not as widely recognized by employers due to other regionally accredited degree programs, employers still consider these degrees to be useful, although they may look for candidates from other accredited schools. In this case, it may be wise to look at the next option, such as Chandron State College, which is a regionally accredited school and costs a whopping $7,060 for the entirety of the degree. This is less than most DETC programs!
Other cheap online MBA programs depend on your location within the country. East Carolina University offers the cheapest option for accreditation from the Association to Advance Collegiate Schools of Business’, costing less than $8,000 for North Carolina residents. However, this is exclusive to North Carolinians; out-of-staters have to pay up to $26,000 for the same degree. Many other public universities in the south offer online MBAs for less than $12,000, although this is typically the in-state tuition price. However, it is only a matter of searching around your region to discover the best steals for MBA programs.
Additionally, a new type of “hybrid” degree now offers students the option of partially taking classes online and still coming into the classroom on occasion. This is another cost-effective way of earning an MBA because schools generally lower the price when students choose this option because it is a relatively new form of MBA degree programs. However, the burden is on you as a student to get out there and research extensively into the many schools that are in your area to ascertain which school has the best option. Cheap MBA programs are not readily advertised (if they are highly accredited), and it is therefore up to you to find cost-efficient programs.Did you enjoy this article?