The Most Affordable MBA Programs

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MBAs have a reputation for being valuable but expensive. Discover ways to break through cost constraints while earning a prestigious graduate degree in business.

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Affordable online MBAs have become an increasingly sought-after higher education. Inflation has wreaked havoc on personal finances, and the government has terminated student loan forbearance programs. MBAs remain one of the most dependable options for students seeking credentials to accelerate their earning power.

However, MBAs have historically ranked among the most expensive degrees to pursue. MBA programs can cost anywhere from $9,000-$50,000 or more per year. These exorbitant costs limit access to MBA education. Affordable online MBAs have thus emerged as an appealing alternative that improves education equity.

People who pursue affordable MBAs match many different profiles but often include working professionals, working parents, and people from lower income brackets. To aid your search for a budget-friendly yet appealing MBA degree, we have compiled a list of the top affordable MBA degrees. Use it to aid you in researching which programs might be a good fit for you.

Online MBA Programs for You

Grow your career, leadership, and business acumen with an accredited online MBA program.

Top 5 Most Affordable MBAs

#1 The Most Affordable MBA Programs

University of Florida

  • Gainesville, FL
  • 4 years
  • Online + Campus

Based in Gainesville, Florida, UF enrolls nearly 54,000 students annually. Established in 1853, UF houses 16 academic colleges. UF also offers educational programming at dozens of locations around the state and online.

Online MBA

Offered through the Warrington College of Business, learners can complete the University of Florida's online MBA on an accelerated or traditional timeline. The 16-month MBA accommodates students with an undergraduate degree in business within the requisite timeframe. The 24-month program maximizes flexibility for students and incorporates additional foundations coursework. 

Both online MBAs include on-campus orientations, are cohort-based, and include at least one experiential learning requirement. The 16-month MBA incorporates 32 credits of coursework on topics including corporate finance, operations management, and professional writing. The 24-month curriculum explores additional areas such as organizational behavior and managerial statistics.

All MBA students receive career development assistance throughout their program.

UF's Specializations

N/A 

UF's Affordability

Enrollees pay all-inclusive tuition and fees based on their specific program. This holds true for residents and nonresidents alike.

Program at a Glance

  • School Type: Public
  • Accreditation: Southern Association of Colleges and Schools Commission on Colleges (SACSCOC); business programs accredited by the AACSB. 
  • Tuition: $49,205 for the 16-month program; $59,807 for the 24-month program
  • Required Credits: 32 for the 16-month program, 48 for the two-year program
  • Program Length: 16-24 months
  • Delivery Format: Online, cohort-based
  • Admissions
    • Process: Fill out initial pre-application form; complete UF graduate school application; submit transcripts, recommendation forms, essays, and optional GMAT or GRE scores for consideration; three start dates per year
    • GPA: Not specified
    • Standardized Tests: None required
  • Cost: $30
Average Undergrad Tuition
In-state
$4,477
Out-of-state
$25,694
Average Graduate Tuition
In-state
$10,770
Out-of-state
$27,335
Retention Rate
97%
Acceptance Rate
31%
Students Enrolled
53,372
Institution Type
Public
Percent Online Enrollment
92% Percentage of all students who are enrolled online.
Accreditation
Yes Southern Association of Colleges and Schools Commission on Colleges

#2 The Most Affordable MBA Programs

Rice University

  • Houston, TX
  • 4 years
  • Online + Campus

Chartered by its namesake William Marsh Rice in 1891, Rice first offered classes in 1912. With a main campus in Houston, Texas, and extensive online offerings, Rice enrolls more than 8,000 students annually. 

Online MBA

Rice University's  online MBA includes 54 credits of coursework. Ten-week core classes emphasize financial accounting, data analysis, marketing, and finance fundamentals. The curriculum also integrates five-week core classes on more specific subsets of business such as competitive strategy, organizational behavior, and enterprise acquisition. 

Elective courses let learners choose an optional career-focus area. As part of the program, learners take part in an MBA capstone. The capstone gives students opportunities to apply degree knowledge and skills to a real-world managerial problem. Student teams are paired with executives from non-profit and community based-organizations. 

Rice's Specializations

Through elective options, students can choose a career-path focus area:

Corporate strategy | Corporate finance | Investment management | Marketing | Entrepreneurship | Energy | Healthcare

Rice's Affordability

All online MBA students pay the same per-credit tuition. The tuition enrolled pay at the start of their online MBA is locked in for the entirety of their program. 

Program at a Glance

  • School Type: Private
  • Accreditation: Southern Association of Colleges and Schools Commission on Colleges (SACSCOC); business programs accredited by the AACSB.
  • Tuition: $2,100 / credit
  • Required Credits: 54
  • Program Length: Two years
  • Delivery Format: Online, synchronous, cohort-based, residencies required
  • Admissions
    • Process: Submit test scores, transcripts, a professional essay, and a resume with recommendations in anticipation of an admissions interview; four application deadlines each year
    • GPA: Not specified
    • Standardized Tests: GRE or GMAT
    • Cost: $150
Average Undergrad Tuition
In-state
$50,310
Out-of-state
$50,310
Average Graduate Tuition
In-state
$47,306
Out-of-state
$47,306
Retention Rate
97%
Acceptance Rate
11%
Students Enrolled
7,643
Institution Type
Private
Percent Online Enrollment
93% Percentage of all students who are enrolled online.
Accreditation
Yes Southern Association of Colleges and Schools Commission on Colleges

#3 The Most Affordable MBA Programs

Western Governors University

  • Salt Lake City, UT
  • 4 years
  • Online

Established as a collective effort of 19 U.S. governors in 1997, WGU offers affordable and accessible education to meet the needs of today's workforce. WGU has nine state-based universities and provides online undergraduate and graduate programs in business, education, information technology, and health and nursing.      

Online MBA

Western Governors University's online MBA includes 11 courses. Students study management, leadership, and strategy alongside economics, marketing, accounting, and finance. The comprehensive curriculum is designed to match the needs of the current workforce and build relevant, practical skills.

At the end of the online MBA, learners complete a capstone project. The cumulative project allows students to apply degree knowledge to identify a solution to a real-world business problem. 

Most students take classes one-at-a-time, moving from one class to the next at their own pace. At the end of each course, learners complete an assessment.

WGA's Specializations

Healthcare management | Information technology management

WGU's Affordability

Students pay per-term tuition. This allows for completion of as many courses as possible within any term and accelerates degree completion time. At the end of each course, learners complete an assessment and move forward in the curriculum. 

Program at a Glance

  • School Type: Private
  • Accreditation: Northwest Commission on Colleges and Universities (NWCCU); business programs are accredited by the ACBSP.
  • Tuition: $4,530 / term
  • Required Credits: 33
  • Program Length: 1-2 years
  • Delivery Format: Online, asynchronous
  • Admissions
    • Process: Students submit transcripts for consideration
    • GPA: Not specified
    • Standardized Tests: N/A
    • Cost: $65
Average Undergrad Tuition
In-state
$6,380
Out-of-state
$6,380
Average Graduate Tuition
In-state
$7,500
Out-of-state
$7,500
Retention Rate
75%
Acceptance Rate
Not provided
Students Enrolled
147,866
Institution Type
Private
Percent Online Enrollment
Not provided
Accreditation
Yes Northwest Commission on Colleges and Universities

#4 The Most Affordable MBA Programs

Texas A & M International University

  • Laredo, TX
  • 4 years
  • Online + Campus

Located in Laredo, Texas, the school traces its origins to 1970. The institution became part of the Texas A&M University System in 1989 and adopted its current moniker, TAMIU for short, in 1993. TAMIU offers more than 100 academic programs to nearly 9,000 students annually.

Online MBA

Texas A&M's online MBA programs incorporate core business coursework with elective classes that match specific areas of concentration. The core curriculum covers business research methods, strategic management, economics, and finance. Students also complete two seminars in management, one on management concepts and one in marketing management.

Five specialization areas allow learners to gear their degree to specific career goals. Each of TAMIU's online MBAs includes 30 credits of coursework. 

Courses span seven weeks and TAMIU has six start dates each year. TAMIU also offers preparatory modules to accommodate students with limited business knowledge and experience.

TAMIU's Specializations

Management  | International banking and finance | International business | International trade and logistics | Criminal justice | Healthcare administration 

TAMIU's Affordability

TAMIU's tuition falls below the average tuition rates in the five most populous states other than Texas, according to the Texas Higher Education Coordinating Board. 

Program at a Glance

  • School Type: Public
  • Accreditation: Southern Association of Colleges and Schools Commission on Colleges (SACSCOC); business programs accredited by the AACSB.
  • Tuition: $11,010/ degree ( residents); $30,900 / degree (nonresidents)
  • Required Credits: 30
  • Program Length: Two years
  • Delivery Format: Online
  • Admissions
    • Process: Six start dates each year
    • GPA: 3.25
    • Standardized Tests: GRE or GMAT (in some instances)
    • Cost: $35
Average Undergrad Tuition
In-state
$3,818
Out-of-state
$13,634
Average Graduate Tuition
In-state
$3,350
Out-of-state
$10,712
Retention Rate
74%
Acceptance Rate
59%
Students Enrolled
8,525
Institution Type
Public
Percent Online Enrollment
59% Percentage of all students who are enrolled online.
Accreditation
Yes Southern Association of Colleges and Schools Commission on Colleges

#5 The Most Affordable MBA Programs

Parker University

  • Dallas, TX
  • 4 years
  • Online

Offering healthcare and business-related programs, Parker was originally a chiropractic college. Based in Dallas, Texas, Parker remains dedicated to its initial mission and operates a chiropractic wellness center in Irving, Texas. 

Online MBA

Parker University's online MBA combines business coursework with health-related classes to prepare individuals for careers in healthcare management. Core classes explore topics such as organizational behavior, business research methods, accounting and finance, and marketing management. 

Focus areas within the program include healthcare management, management, information technology, and practice management. Students complete 12 credits of coursework in their chosen concentration area.

Each degree includes 36 credits. Enrollees without previous business coursework and experience take an additional six credits of prerequisite classes and earn a degree in 42 credits. 

Parker's Specializations

Healthcare management | Management | Information technology | Practice management

Parker's Affordability

Parker offers the same per-credit tuition for resident and nonresident students alike. This is true for part- and full-time learners. 

Program at a Glance

  • School Type: Private
  • Accreditation: Southern Association of Colleges and Schools Commission on Colleges (SACSCOC)
  • Tuition: $775/ credit (full time)
  • Required Credits: 36-42
  • Program Length: Two years
  • Delivery Format: Online
  • Admissions
    • Process: Applicants submit transcripts and test scores for consideration
    • GPA: 2.7
    • Standardized Tests: GRE, GMAT, MAT
  • Cost: $50
Average Undergrad Tuition
In-state
$21,622
Out-of-state
$21,622
Average Graduate Tuition
In-state
$12,870
Out-of-state
$12,870
Retention Rate
75%
Acceptance Rate
Not provided
Students Enrolled
1,697
Institution Type
Private
Percent Online Enrollment
72% Percentage of all students who are enrolled online.
Accreditation
Yes Southern Association of Colleges and Schools Commission on Colleges

The rankings above provide essential information about the most affordable online MBA programs. View details about the schools, the individual degrees, and overall outcomes based on independently reported, nonpartisan data.

Some schools have additional programmatic accreditation through the Association to Advance Collegiate Schools of Business (AACSB) or the Accreditation Council for Business Schools and Programs (ACBSP).

Our Ranking Methodology

Online MBA Programs for You

Grow your career, leadership, and business acumen with an accredited online MBA program.

Why Get an Affordable Online MBA?


Affordable MBA programs offer more than just cost savings. Many of these programs feature convenient online delivery formats. This can provide additional flexibility and make it easier for learners to work while they study, further improving their economic outcomes.

Specific benefits of pursuing an MBA designed for peak affordability include:

  • Access to More Options

    Before the online age, students who wanted to continue working while studying were limited to pursuing only nearby programs. The internet, and the mass adoption of remote work during the COVID-19 pandemic, increased access to a full array of schools, concentrations, and specializations.
  • Graduating With Less Debt

    Business schools often have a reputation for high tuition rates. Affordable online MBA programs reduce costs, enabling students to graduate with lower debt and reap the benefits of their increased salaries.
  • Engaging With Emerging Technology

    Some business schools use cutting-edge technologies to deliver lectures and course materials to online students. Companies use many of the same resources when engaging remotely with clients and stakeholders.
  • Viewpoint Diversity

    Online MBA programs tend to draw in students with diverse backgrounds and viewpoints, bringing a deeper, more enriched pool of ideas to the virtual classroom.
  • International Opportunity

    As affordable online MBA programs become more popular and prestigious, they draw more interest from the international student and business communities. Online MBA programs can help enrollees network on a global scale.

Online MBA Programs for You

Grow your career, leadership, and business acumen with an accredited online MBA program.

The Cost of Online MBA Programs

Multiple factors affect program costs. Affordable online MBAs include programs with relatively low tuition costs, strong financial aid support, or both. Business schools that offer particularly favorable returns on educational investment, as measured through job placement rates and average salaries, also merit consideration.

Online MBA programs may also be cheaper due to lower transportation costs and a student's ability to study at home and continue working while in school, offsetting the price of tuition.

Students do not need to sacrifice educational quality to achieve savings. To that end, prioritize the following factors as you seek affordable MBA options:

  • Accreditation

    Students seeking affordable online MBA programs should ensure each school's accreditation status. Schools can be both nationally and programmatically accredited. Prospective students can also seek programs boasting programmatic accreditation from the Association to Advance Collegiate Schools of Business, the Accreditation Council for Business Schools and Programs, or the International Accreditation Council for Business Education.
  • Affordability

    Top programs ensure that students can graduate without incurring overwhelming debt or personal hardship. They may offer low tuition rates or reduced rates for online students. Some schools bridge the affordability gap by offering financial aid to online MBA students.
  • Post-Graduation Success

    MBA programs often advertise their graduates' success by detailing alumni salaries, promotions, employment rates, and impressive employers and/or job titles. Prospective students should research each program's graduation rate. Schools with graduation rates of 70% or higher tend to reflect a positive student experience.
  • Online Resources

    The best affordable online MBA programs ensure that distance learners benefit from access to university resources, like career centers, libraries, tutoring, and networking opportunities. Programs with large percentages of online students often prioritize distance learners and devote significant resources to their experience.
  • Robust Curricula

    Prospective students should seek programs offering rigorous curricula and ample opportunities for program and community involvement. Whether pursuing affordable online MBA programs or on-campus experiences, learners should compare degree offerings to ensure they can graduate with the expertise to succeed in the job market. Course offerings vary, but the best MBA programs provide foundational business knowledge and in-depth coverage of any concentration topics.

Prospective students should consider their individual situations, including their educational background and career goals. Some factors, like accreditation, always matter. Learners aiming for high-level executive positions at major companies may focus more on student outcome data and alumni networks. Those with business backgrounds might look for curricula focusing more on specializations than on MBA core courses.

Online MBA Programs for You

Grow your career, leadership, and business acumen with an accredited online MBA program.

What to Expect From Affordable Online MBA Programs

Most MBA degrees take 1-2 years of full-time study to complete. With professional and personal obligations, enrollees may take longer to complete their programs, often extending to 3-5 years. Schools understand that many online MBA degree-seekers work while studying.

Institutions tailor their curricula to accommodate the practical realities of students' needs.

Course load also varies, depending on the program's intensity and how the school structures its credit system. General MBAs can comprise as few as 10 courses. More diversified and concentrated study paths may require up to 24 courses or more.

Schools also set distinct admission policies. Most require GMAT or GRE scores, academic transcripts, personal statements and/or recommendations, and relevant professional experience. The number of supported concentrations and specializations also continues to grow, giving online MBA students access to more study options than ever before.

Specialized MBAs

Many of the most affordable online MBAs offer concentrations, such as an MBA in accounting, healthcare management, or international business. Degree-seekers often choose these paths when they have specific career objectives in mind. Professionals with specialized MBAs often command higher salaries, as their targeted credentials give them a competitive edge for relevant job openings.

Business schools collectively host dozens of different MBA specializations, but individual institutions typically offer about 5-8 options. Examples include common and traditional concentrations, along with innovative specializations reflecting emerging trends in modern commerce.

Popular Online MBA Courses

The specific courses included in a given MBA program depend on the school and the degree's orientation. For example, concentrated programs typically cover specialized content beyond the scope of a general MBA. The following examples represent courses commonly offered in general MBA programs:

  • Marketing Theory and Practice: Executive and management roles often demand a thorough grounding in the theoretical and applied aspects of marketing. This course, usually taken in the early stages of an MBA, provides an introduction to the four interrelated principles of marketing product, price, place, and promotion.
  • Principles of Management: Graduates often earn leadership positions that require strong proficiencies in resource management and decision-making. This course examines crucial managerial principles, including management theory, motivational strategies, and the qualitative and quantitative factors that drive decision-oriented analysis.
  • Business Ethics: In the age of social media and mass instant communication, businesses need to pay closer attention than ever to the ethical soundness of their practices. This course uses practical examples and dilemmas to examine theories of business ethics in real-world settings. Students learn how to balance and manage ethical concerns against the business's bottom line.
  • Quantitative Analysis: Business managers and executives analyze data to minimize costs and maximize profitability. This fundamental course applies data analysis to inventory management, scheduling, project management, and other key operational aspects.

The MBA Capstone or Thesis

Affordable online MBA programs typically culminate with comprehensive projects that demonstrate students' mastery and synthesis of critical concepts learned throughout the degree. Most programs present this academic requirement as a capstone or thesis.

Capstone or thesis projects usually cover the credit equivalent of two full-length courses. Enrollees normally complete these projects under the supervision of senior faculty members during the final year or semester of their program.

Both formats require extensive research and a thorough analysis of specific issues that professionals commonly encounter in their careers. Thesis projects usually apply theory to an academic hypothesis, while capstones maintain a more practical and pragmatic orientation. For instance, capstones often prompt students to formulate and articulate solutions to actual challenges faced by real businesses.

Check out our guide on MBA capstone and thesis projects.

Online MBA Programs for You

Grow your career, leadership, and business acumen with an accredited online MBA program.

Making Affordable MBA Programs Even Cheaper

Prospective students can potentially decrease MBA program costs by considering weighing the following factors against their personal goals.

  • Required Travel

    Whether considering on-campus learning or online studies, learners may need to account for travel expenses. Some online programs require participants to visit campus for orientation, immersion events, or residencies. These options provide excellent networking opportunities, but degree-seekers should weigh travel costs against potential gains.
  • Class Size

    Smaller class sizes can offer personalized attention and direct access to faculty, though programs with low student-to-faculty ratios tend to be more expensive. Candidates should consider their own learning styles and whether they thrive in larger classes.
  • Institutional Prestige

    Some employers prioritize candidates with degrees from prestigious institutions, making school reputation an important consideration. These schools may charge higher tuition rates as a result. Prospective students should carefully consider whether paying higher rates for prestigious institutions would help them achieve their goals.
  • Online vs. On-Campus

    Affordable online MBA programs commonly offer reduced tuition rates to distance learners, including opportunities for out-of-state learners to pay resident rates. With the flexibility of online programs, learners can study from home and potentially continue working while earning their degrees.

Online MBA Programs for You

Grow your career, leadership, and business acumen with an accredited online MBA program.

Cheap Online MBA Programs That Do Not Require the GMAT

Online MBA schools use the GMAT as a benchmark to select prospective students. The GMAT acts as a great tool for the admissions process, but many students do not feel comfortable taking such a high-pressure test. Luckily, many online MBA programs have no GMAT requirements.

This relieves some stress from the application process and saves applicants some money. Graduate school entrance exams, such as the GMAT, can create an extra financial hurdle due to the expense of preparation and the test fee itself.

GMAT preparation books often cost around $50, and practice tests typically charge around $30. It costs $275-$300 to sit for the GMAT exam, and some students may need to take it more than once.

Financial Aid Options for an Online MBA Program

Even the cheapest MBA programs can make for a significant financial investment, and many students may seek additional financial aid to help fund their degrees. The following articles describe various funding sources, tips on accessing financial aid, and an in-depth guide on the FAFSA.

How to Save Even More Money on Your Affordable MBA

After choosing an affordable MBA program and taking advantage of financial aid options, learners can continue making money-saving choices. The list below describes the advantages of accelerating a degree through overloading credits, choosing textbook alternates, and making loan payments during school to lower overall interest.

Online MBA Programs for You

Grow your career, leadership, and business acumen with an accredited online MBA program.

Common Questions About Affordable MBA Programs

How do most people pay for an MBA?

People who cannot afford to absorb the entire cost of an MBA typically pursue scholarships, grants, and federal or private loans. Some employers also partially or fully sponsor workers seeking degree upgrades through tuition reimbursement benefits.

Is an MBA still worth it?

Experts say yes. The vast majority of MBAs generate a positive return on investment through increased earning power and career advancement potential.

What is a realistic budget for an MBA?

An MBA can cost anywhere from $9,000-$50,000 per year. For an affordable online MBA, it is realistic to find a suitable program toward the lower end of this range, or even below it.

Where is the cheapest place to get an MBA?

It is possible to get an MBA degree for less than $10,000 in total tuition. For example, Eastern University offers an online MBA program at a total cost of just $9,900.

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