25 Most Affordable Online MBA Programs for 2020
Compiled and Written By OnlineMBA.com Staff
Last Updated: March 2020
Most students seeking online MBA programs take cost into serious consideration. Even so, they should search beyond the cheapest online MBA programs to find ones that provide the best return on investment. Truly affordable online MBA programs deliver high-quality education at a cost that will not saddle students with years of debt. Tuition rates are not the only indicator of affordability; prospective learners must understand all of the factors that make an online MBA program affordable.
Affordable programs increase students’ earning potential without burdening them with excessive debt. That said, not all online MBAs offer the same benefits. With this in mind, we ranked the 10 most affordable online MBA programs of 2020. Read on for more information regarding program costs and other factors that make them good investments.
Here are the 10 Best Affordable Online MBA Programs for 2020:
- University of North Carolina at Chapel Hill – Chapel Hill, NC
- Johns Hopkins University – Baltimore, MD
- University of Florida – Gainesville, FL
- Creighton University – Omaha, NE
- Purdue University – West Lafayette, IN
- St. Bonaventure University – Saint Bonaventure, NY
- Saint Joseph’s University – Philadelphia, PA
- University of St. Francis – Joliet, IL
- Citadel Military College of South Carolina – Charleston, SC
- Indiana University – Bloomington – Bloomington, IN
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Top Affordable Online MBA Program Rankings for 2020
The programs ranked below are the 25 most affordable online MBA programs for 2020, providing a great resource for students beginning their online MBA program search. This list breaks down the most affordable online programs and gives additional details on what students can expect if they enroll.
Affordability should factor into students’ MBA decisions, but they should also consider their career aspirations and which concentration options would best suit them. For more information on each school’s program offerings, click to expand their respective boxes. Additional information includes available concentrations for each school’s MBA program and admission requirements.METHODOLOGYCOLLAPSE ALLEXPAND ALL
| Rank | School | Location | Cost | Toggle | Logo | Tuition | % Receiving Financial Aid | Student Population | School Type | Description |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | University of North Carolina at Chapel Hill | LOCATIONChapel Hill , NC | TUITION$$$$$ | % RECEIVING FINANCIAL AID67 | STUDENT POPULATION30,011 | TUITION$125,550 | SCHOOL TYPEPublic | UNC’s cohort-based program ranks among the best online MBA programs for its convenience and affordability. The 62-credit curriculum provides a comprehensive overview of contemporary business administration in a global context. The renowned Kenan-Flagler School of Business designed the course of study to accommodate the schedules of working professionals.The program runs largely asynchronously, and students can select concentrations in entrepreneurship, finance, marketing, strategy and consulting, or data analytics. Distance learners can select from 25 elective courses to customize their degree to their career goals. Two required in-person summits allow face-to-face networking.Kenan-Flagler reports that the average participant takes two years to complete the program and enjoys a 24% MBA salary increase upon graduation. The school boasts accreditation by the Association to Advance Collegiate Schools of Business (AACSB).ConcentrationsFinanceEntrepreneurshipMarketingStrategy & ConsultingData Analytics And Decision MakingVIEW SCHOOL PROFILE | ||
| 2 | Johns Hopkins University | LOCATIONBaltimore , MD | TUITION$$$$$ | |||||||
| 3 | University of Florida | LOCATIONGainesville , FL | TUITION$$$$$ | |||||||
| 4 | Creighton University | LOCATIONOmaha , NE | TUITION$$$$$ | |||||||
| 5 | Purdue University | LOCATIONWest Lafayette , IN | TUITION$$$$$ | |||||||
| 6 | St. Bonaventure University | LOCATIONSaint Bonaventure , NY | TUITION$$$$$ | |||||||
| 7 | Saint Joseph’s University | LOCATIONPhiladelphia , PA | TUITION$$$$$ | |||||||
| 8 | University of St. Francis | LOCATIONJoliet , IL | TUITION$$$$$ | |||||||
| 9 | Citadel Military College of South Carolina | LOCATIONCharleston , SC | TUITION$$$$$ | |||||||
| 10 | Indiana University – Bloomington | LOCATIONBloomington , IN | TUITION$$$$$ |
SEE MORE SCHOOLS
How Much Does an Online MBA Program Cost?
Tuition rates for online MBA programs vary by location and students’ residency status. Even online programs sometimes distinguish among in-state, out-of-state, and international students, though some allow all online students to pay in-state tuition. For this reason, online programs often offer more affordable MBA options. Many schools’ online tuition rates are even lower than their in-state rates, as the table below demonstrates.
| STUDENT PROVENANCE | MEAN PRICE |
|---|---|
| In State | $35,809 |
| Out-of-State | $43,136 |
| Out-of-Country | $44,561 |
| Online | $31,568 |
Source: AACSB
What Factors Affect the Affordability of an Online MBA Program?
COLLAPSE ALLEXPAND ALL
Online vs. On-campus
Completing your MBA program online often costs less than attending classes in-person. Tuition costs about the same for online and in-person classes, but online classes don’t require transportation and parking expenses.
Graduation Rate
Quality of Education
Tuition
School Size and Type
Affordable Online MBA FAQs
Is an MBA Online Worth It?Graduates with an accredited online MBA can qualify for lucrative job opportunities, which typically pay well above the median annual income for their state of choice.How Are Online MBA Programs Accredited?Accredited online MBA programs meet the same standards as in-person programs, which are set forth by regional, national, and programmatic accrediting bodies. Regional accreditation typically ensures the most rigorous academic standards.How Long Does it Take to Complete an Online MBA?Students can complete most online MBA programs in two years. Some programs offer expedited options that allow students to graduate in one year, depending on whether they study full time or part time.How Does Accreditation Affect Affordability?Accreditation indicates a quality MBA program. Unaccredited schools may provide a cheap online MBA, but their degrees are less valuable. By that same token, while accredited programs may cost more at the outset, the benefits outweigh the cost.Are Online MBAs Cheaper?Online programs can offer a more affordable MBA option, as many schools allow online students to pay in-state tuition or even lower prices. Some schools make no distinction, however, and students should research tuition expectations before enrolling.
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Financial Aid Options For an Online MBA Program
Prospective students should begin the search for MBA funding by completing the FAFSA, which qualifies students to take advantage of federal loans, grants, scholarships, and work-study programs. The government offers students the opportunity to repay federal loans at low interest rates. Graduate students, including MBA learners, qualify for unsubsidized loans, which carry higher interest rates than the subsidized loans students may have borrowed for undergraduate studies.
By filling out a FAFSA, students also qualify for grants, scholarships, and work-study opportunities. Grants constitute need-based funding that students do not repay, while scholarships tend to be merit-based. Some organizations use the terms interchangeably. Students often need to complete the FAFSA before they can qualify for school-specific grants and scholarships.
Work-study programs also provide a source of income for MBA students. Funded by the federal government and administered by the school, work-study jobs consist of hourly tasks that may include faculty assistance, research, or administrative tasks.
Students looking to fund their MBA studies also research scholarship opportunities through professional organizations related to their particular area of interest. For example, the American Association of Healthcare Administrative Management offers scholarship opportunities for members and their families, as does the Society for Human Resource Management.
Affordable Online MBA Programs That Do Not Require the GMAT
Online MBA schools use the GMAT as a benchmark to select prospective students for program admission. The GMAT can be a great tool for the admissions process, but many students do not feel comfortable taking such a high-pressure test. For those learners, many online MBA programs do not require applicants to provide GMAT test scores.
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 fee for taking the test. GMAT preparation books often cost around $50, and practice tests cost around $30. It costs $250 to sit for the GMAT exam, and some students may need to take it more than once. Applicants can save this money by attending a program that does not require GMAT scores.
How to Save Even More Money on Your MBA
Budgeting and saving money plays a key role in saving on online MBA programs, as well, since the median price of the degree lands at $31,568, according to AACSB. Consider the following money-saving tactics:
- CREDIT OVERLOADMany schools let students apply to take more courses in a semester than are usually allowed. If a credit overload request is approved, learners can complete their degrees more quickly, saving them money.
- TAKE CLASSES OVER SUMMERUsing the summer term to complete coursework also helps students to save money by allowing them to complete their degrees in less time.
- RENT OR BUY E-BOOKSInstead of purchasing expensive physical copies of the textbooks, consider buying or renting digital copies, which can save on money and space.
- MAKE LOAN PAYMENTS WHILE YOU ARE IN SCHOOLIf learners make loan payments while in school, less interest accrues because the loan balance is smaller upon graduation. With this strategy, students owe far less upon graduation than they would if they waited until graduation to start making payments.
Will Getting My MBA Pay Off?
Online MBAs can be expensive, but graduates compensate for their initial investment with increased earning potential over the long haul. MBAs provide learners with a competitive advantage in the job market, opening doors to more lucrative positions. Many companies require candidates for executive roles to hold MBA degrees from accredited programs.
MBAs represent an investment in the future, preparing learners for a variety of positions that would be difficult to obtain without a graduate degree. Read on to take a look at a few common careers for MBA graduates and their respective median salaries.
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Marketing managers take charge of an organization’s plans for appealing to new customers and retaining existing ones. They create marketing strategies for the brand and manage a team of workers who help execute these plans.
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Cheapest Online MBA by Accreditation
HomeOnline Mbas Cheapest Online MBA by Accreditation Question:Who offers the cheapest online MBA? I’m ready for business school online. I need an online MBA fast. But I already carry $25,000 in student loans from my bachelor’s degree. Can the researchers at GetEducated.com recommend a cheap online MBA that’s also good in quality?
—Brad in Manchester, NHAnswer:
Brace yourself, Brad. The cost range of an online MBA is staggering. According to our own research, the Get Educated 2013 Survey of Affordable Online MBA programs, you can pay as little as $6,389 or as much as $145,050 for an accredited distance MBA. This is real cost information based on our national survey, which compared online MBA degree costs at 216 accredited online business schools.
With a $138,661 price difference between the least expensive and cheapest online MBA program, you’re smart to compare costs before you enroll.
Accreditation, geographic region and the business structure of your online MBA program—whether it is a non-profit or a for-profit school—are the three major the factors that will drastically affect the cost of your online MBA.
Cheapest Online MBA
As a rule, the cheapest online MBA programs come from schools that are nationally accredited by the Distance Education and Training Council (DETC).
Average cost of a distance MBA from a DETC school: $11,886.
Six DETC institutions—business schools such as New Charter University (formerly known as Andrew Jackson University), California Coast University, Ashworth College, William Howard Taft, and Columbia Southern—offer online MBA programs with sticker prices under $10,000.
If you pay less, do you get less?
Maybe.
DETC degrees are not as widely accepted as regionally accredited degrees. (More than 85 percent of all colleges in the USA are regionally accredited.)
Most DETC-accredited schools don’t operate residential campuses. Most operate solely as online schools. For this reason, DETC-accredited schools don’t often carry as much brand name recognition with employers.
Cheapest Online MBA: Regional Accreditation
If you want a regionally accredited MBA, bargains abound. Most of these come from public universities in the South or the Midwest that have begun offering their degrees online to a national audience. (For the record, regional accreditation is the type of accreditation traditional brick and mortar universities hold.)
Eastern New Mexico University offers the cheapest online MBA program at $6,389. In fact, among the 355 online MBA options Get Educated editors surveyed in 2013, Eastern was objectively the cheapest. Wayne State College, second runner up, is also a real steal at $8,250.
Cheapest Online MBA: AACSB Accreditation
If you have to have the Association to Advance Collegiate Schools of Business’ (AACSB) stamp of approval on your MBA, Southeast Missouri State University offers the cheapest MBA at a price tag of $9,669 for online students living in Missouri.
Southeastern Oklahoma State University offers the second cheapest MBA option—but, again, only if you’re lucky enough to be a resident of the state of Oklahoma. It’s $10,035 for Missourians, but almost $21,607 for everyone else.
Those who reside in the South can select from a slew of public universities that offer affordable online MBAs; since you don’t, Brad, try the University of Louisiana at Monroe or the University of North Dakota, both of which have distance MBAs for under $13,000 (no matter where you live).
To locate your personal best buy among all accredited distance MBAs that recruit students nationwide, consult Get Educated’s Best Buy Rankings of Affordable MBA Online Programs which are regionally accredited and Get Educated’s Best Buy Rankings of Affordable AACSB Online MBA Programs. These lists detail online MBA programs by sticker price, making it easy for you to identify scores of low-cost options. No one pays to be listed in our MBA survey or get a place in these lists so you can actually get some solid valuable data here on what you should pay and who charges what up front.
Save Money with an Accelerated Online MBA
Earning an online MBA fast is another question. If you have MBA credits from another accredited program, you may be able to transfer up to three old courses. The rule of thing for a MBA degree, which usually requires only 12 to 18 courses, is that the school that will award the degree will require you to take all but three formal courses with them.
The best “fast” way to get a real MBA is to look at accelerated online MBA programs. Back when I was in college Ronald Reagan was President, and college courses lasted forever. A “semester” was always 16 weeks. Today, many online programs use “accelerated” courses.
An accelerated MBA offers courses faster, sometimes in half the time (8 weeks) as what is required for a traditional residential MBA. You take the same courses but study twice as fast. Consider if you can keep up that kind of pace. You’ll find online MBA courses run anywhere from 8 weeks to 16 weeks. Look for the accelerated option when comparing online MBA programs.
Save Big with Online State Colleges
Have you consulted your state college system online? Many state universities now offer MBAs online, or in a “hybrid” or “blended” format—meaning some courses are offered online while others may be taught in the classroom. These hybrid online MBA programs are incredibly flexible, and very cost effective.
State colleges rarely advertise programs to the public via Google or other net forums. Given the growing popularity of online education, chances are excellent that there may be a cheap—and highly regarded—distance MBA right in your own backyard.
Use our cool online degree comparison tool, the Distance Degree Genie, to compare online MBA programs side by side. This tool will reveal the total estimated cost, tuition and online learning fees, for any accredited distance degree. You can also see if the MBA comes from a state university or a for-profit school (FYI: For-profit colleges tend to be quite a bit more expensive than state, non-profit colleges).Dig into our degree search to see data and reviews of almost 400 online MBAs. The Get Educated search tool will let you order up a complete list of accredited MBA programs options. You can use 10 different filters to narrow your choices for a short-list of the type of MBA you need based on cost and other factors.
Top 25 Affordable MBA Online Programs Under $10,000 Per Year
In this article, we profile the top 25 affordable online MBA programs under $10,000 per year for 2020.
Finding an affordable online MBA program requires time and research. By examining reputable sources, we were able to locate accredited and affordable online MBA programs that cost less than $10,000 per year.
Top 25 Affordable Online MBA Programs Under $10,000 Per Year Methodology
We looked at 70 colleges and universities listed by reputable online sources, such as the Center for Educational Statistics (NCES) College Navigator, that offered affordable online MBA programs costing less than $10,000 per year. We narrowed our original pool of schools by applying the following criteria: regional or national accreditation, full- or part-time online completion pathways, program and/or school rankings with U.S. News and World Report, and graduate tuition/fees less than $10,000 per year. We then ranked the top 25 online MBA programs according to raw affordability.
Below is our list of the most affordable online MBA programs for 2020.
#25 – Touro University Worldwide
Online MBA
Los Alamitos, California
Graduate Tuition/Fees: $9,000
Offering affordable online MBA programs, Touro University Worldwide earns a spot on our list of cheap online MBA programs. In addition to affordable tuition, the school offers scholarships of up to 30 percent off the price. Touro’s online MBA program takes one year to complete and provides six available start dates throughout the year, adding to the flexibility and convenience of the online degree. Also, students may tailor their MBA by choosing one of ten concentrations in areas like accounting, artificial intelligence management, cybersecurity management, finance, global management, and health administration management. Touro University’s graduate programs have been recognized by U.S. News and World Report over the past several years.
#24 – University of Wisconsin
Online MBA
Whitewater, Wisconsin
Graduate Tuition/Fees: $8,957
University of Wisconsin offers cheap online MBA programs for aspiring professionals who want to develop critical thinking skills needed as leaders in business and project management. The program also allows students to choose one of many concentrations offered in order to tailor the degree toward areas of interest. These concentrations include accounting, environmental safety and health, finance, human resources management, IT management, international business, and project management. All classes are delivered online and taught by UW faculty who hold doctoral degrees. In addition to affordable tuition and flexibly designed classes, the school offers rankings with U.S. News and World Report. In fact, U.S. News ranks University of Wisconsin #65 in best regional universities in the Midwest. Also, the online MBA programs rank #21 out of more than 1,200 surveyed programs.
#23 – Georgia Southern University
Online MBA
Statesboro, Georgia
Graduate Tuition/Fees: $8,728
Georgia Southern University offers affordable online MBA programs for qualified and motivated professionals. The 21-month MBA program consists of an asynchronous structure that allows students to attend class from whenever and wherever they wish. The program admits students for fall and spring semesters and requires no visits to campus for classes or proctored exams. There is a two-day orientation that takes place in Atlanta and allows students to meet their faculty, peers, and other people associated with the program. U.S. News and World Report ranks Georgia Southern University #230-#301 in best national universities. Also, the online MBA programs rank #66 out of more than 1,200 surveyed programs.
#22 – University of Mississippi
Online MBA
University, Mississippi
Graduate Tuition/Fees: $8,660
University of Mississippi (Ole Miss) offers an online MBA cost that falls under $9,000 per year and is delivered 100% online. The AACSB-accredited business school offers the comprehensive MBA that follows the same trajectory as the on-campus program. The 36-credit hour degree takes two years to complete by taking two courses per term. Some of the required courses include business planning and entrepreneurship, financial analysis, leadership and ethics, managerial accounting, managerial economics, and organizational behavior. Candidates for admission must submit official GMAT or GRE scores that are no more than five years old. University of Mississippi ranks nationally with U.S. News and World Report, and the online MBA programs rank #9 in the country out of more than 1,200 surveyed programs.
#21 – Mississippi State University
Online MBA
Mississippi State, Mississippi
Graduate Tuition/Fees: $8,650
Mississippi State University offers affordable online MBA programs that are AACSB-accredited and ranked with major publications like U.S. News and World Report. In fact, the school’s online MBA program ranks #26 out of more than 1,200 programs surveyed by U.S. News. In addition to school and program rankings, Mississippi State University offers flexible online classes taught by the university’s esteemed and experienced faculty. Well-designed and convenient courses emphasize business information systems, economics, finance, management, marketing, and quantitative analysis. Admission to the online MBA requires an earned bachelor’s from an accredited college or university, official transcripts, and competitive GMAT or GRE scores administered within the last five years.
#20 – Oklahoma State University
Online MBA
Stillwater, Oklahoma
Graduate Tuition/Fees: $8,460
Oklahoma State University offers cheap online MBA programs designed for full-time working professionals who have little time for traditional classroom work. The online option for earning an MBA requires 33 credits. Part-time enrollment is offered so working professionals balance outside obligations with lectures and course requirements. Some of the courses offered include corporate and business strategy, descriptive analysis, ethics, management and organization theory, and project management. Successful admission to the online MBA requires a four-year degree from an accredited program and competitive GMAT or GRE scores. U.S. News and World Report ranks Oklahoma State #157 in best national universities and #80 in top public schools. Also, Oklahoma State’s online MBA programs rank #38 out of more than 1,200 surveyed programs.
#19 – University of Nebraska
Online MBA
Lincoln, Nebraska
Graduate Tuition/Fees: $7,588
When researching online MBA cost, we determined the University of Nebraska to offer one of the most affordable programs on our list. The online MBA allows students to take courses from anywhere in the world. In addition to flexibility, the program offers low tuition costs under $8,000 per year. Courses are delivered entirely online and include a total of 30 core credits and 18 elective credit hours. Also, the MBA is highly customizable and allows students to choose electives and one of five specializations. Available specializations include business analytics, finance, international business, marketing, and supply chain management. U.S. News and World Report ranks University of Nebraska #129 in best national universities, and the online MBA programs rank #26 in the country.
#18 – University of North Texas
Online MBA
Denton, Texas
Graduate Tuition/Fees: $7,338
The online MBA cost at University of North Texas is under $7,500 per year. Enrolled students can take classes 100% online and earn their MBA in just 14 months. The program is highly customizable and offers several concentration areas so that students may take classes in areas other than business administration. Specializations include marketing, marketing analytics, organizational behavior and human resource management, strategic management, supply chain analytics, and supply chain management. UNT ranks with major publications like U.S. News and World Report as the 230th to 301st best national university in the country. Also, the online MBA programs rank #31 out of more than 1,200 surveyed programs.
#17 – Kennesaw State University
Online MBA
Kennesaw, Georgia
Graduate Tuition/Fees: $7,226
When searching for what an accredited online MBA costs, affordable options include the online MBA at Kennesaw State University. Referred to as the Georgia WebMBA, the program offers qualified and highly motivated professionals the opportunity to earn a Coles MBA. Online courses include business strategy, human behavior in organizations, management information systems, managerial accounting, production and operations management, and strategic marketing. Admissions criteria includes two years of professional work experience, official transcripts from all colleges and universities attended, and GMAT test score evaluation. Kennesaw State is a nationally ranked institution that has also earned acknowledgement by U.S. News and World Report as a top innovative school.
#16 – Georgia College & State University
Online MBA
Milledgeville, Georgia
Graduate Tuition/Fees: $7,206
Georgia College & State University offers one of the cheapest online MBA programs on our list. AACSB-accredited, along with only five percent of business schools, the online MBA is an accelerated 20-month program that has been in existence since 2001. With 100% online courses, the program is designed for working professionals. Course requirements include business strategy, entrepreneurship new venture, global and international business, management information systems, operations and supply chain management, and strategic marketing. Georgia College ranks #28 in best regional universities in the South, and the online MBA programs rank #58 out of more than 1,200 surveyed programs.
#15 – Tarleton State University
Online MBA
Stephenville, Texas
Graduate Tuition/Fees: $7,024
Tarleton State University offers cheap online MBA programs that can be completed on a fast-track of only 12 months. The fully online MBA program emphasizes functional areas of business such as accounting, business strategy, finance, information systems, management, and marketing. Classes are administered online and taught by Tarleton faculty. These classes include accounting management, business problems, business research methods, financial management, and managing information systems. The business program is fully accredited by the Accreditation Council for Business School Programs and Southern Association of Colleges and Schools Commission on Colleges. In addition to accreditation, Tarleton State ranks with U.S. News and World Report as the 91st best regional university in the West. Also, the online MBA programs rank #215-#284 out of more than 1,200 surveyed programs.
#14 – Eastern New Mexico University
Online MBA
Portales, New Mexico
Graduate Tuition/Fees: $6,778
The online MBA cost at Eastern New Mexico University falls below $7,000 per year. This affordable online MBA program is accredited by the ACBSP and committed to providing quality online education for working professionals. Admission requires an undergraduate degree and undergraduate GPA of 3.0 or higher, along with competitive GMAT scores of 450 or better. The degree consists of 30 credits with classes like accounting for managers, integrative strategic management, managerial finance, and production and operations management. In addition to the MBA core requirements, students may elect to pursue an accounting concentration also offered within the program. U.S. News and World Report ranks Eastern New Mexico #96-#127 in best regional universities in the West.
#13 – West Texas A & M University
Online MBA
Canyon, Texas
Graduate Tuition/Fees: $6,733
West Texas A&M University offers a low online MBA cost and AACSB-accredited program. Considered one of the top online business programs in the country, the online program provides a solid background in all areas of business, such as accounting, corporate finance, economics, management, and more. Several concentration areas allow students to take additional classes that are applicable to their career interests. These concentrations include computer information systems, general business, healthcare management, management, and marketing. U.S. News and World Report ranks the school #81 in best regional universities in the West and #27 in top public schools. Also, the online MBA programs rank #45 out of more than 1,200 programs surveyed by U.S. News.
#12 – University of Central Arkansas
Online MBA
Conway, Arkansas
Graduate Tuition/Fees: $6,238
The College of Business at University of Central Arkansas offers affordable online MBA programs designed for working individuals and busy professionals. The program requires 30 credit hours beyond the prerequisites and requires applicants hold a bachelor’s degree from an accredited institution prior to admission. Additional admission criteria include an undergraduate GPA of at least 2.70, a score of at least 500 on the GMAT, and two letters of recommendation. The MBA is fully online, meaning classes are taken virtually. Some of the required courses include accounting for management decisions, financial decision making, information technology for managers, operations management, and strategic management. University of Central Arkansas ranks with U.S. News and World Report as the 71st best regional university in the South. In addition to school rankings, the online MBA programs rank #215-#284 out of 1,200 surveyed programs.
#11 – Southern Arkansas University
Online MBA
Magnolia, Arkansas
Graduate Tuition/Fees: $6,234
Southern Arkansas University offers one of the cheapest online MBA programs on our list. AACSB-accredited, the program is one of the few MBAs offered through an online format that has been recognized by an esteemed accrediting agency. Admission to the program requires official transcripts from accredited institution with a minimum undergraduate GPA of 2.5. In some circumstances, the GMAT may be waived. While the MBA curriculum is designed for graduates of a bachelor’s in business administration program, graduates from other disciplines can enter the program by completing prerequisite MBA courses. The institution is ranked by U.S. News and World Report as the 107th-141st best regional university in the South. Also, the online MBA programs at Southern Arkansas rank #215-#284 out of more than 1,200 surveyed.
#10 – Arkansas State University
Online MBA
Jonesboro, Arkansas
Graduate Tuition/Fees: $6,210
Arkansas State University’s affordable online MBA programs cost less than the majority of online MBA programs out there. In addition to affordability, the school offers flexible online study ideal for working professionals. To be admitted to the program, applicants must provide competitive GMAT scores and transcripts from all accredited institutions attended. Coursework is delivered online and covers leadership, business, and management competencies. Also, students may elect to earn a concentration in finance or supply chain management in order to tailor their degree to meet specific career goals. Arkansas State ranks with major publications like U.S. News and World Report. In fact, U.S. News ranks the school #95 in best regional universities in the South and #38 in top public schools. In addition to school rankings, the online MBA programs rank #45 out of more than 1,200 surveyed programs.
#9 – Missouri State University
Online MBA
Springfield, Missouri
Graduate Tuition/Fees: $6,038
Missouri State University offers cheap online MBA programs designed for working professionals. The online MBA cost is the same for in-state and out-of-state students. This affordable degree program requires applicants provide competitive GMAT or GRE scores if undergraduate performance is not met. This means that a GMAT or GRE waiver is offered to applicants with an undergraduate GPA of 3.25 or better. All MBA courses are delivered online. These courses include accounting concepts for managers, fundamentals of economics, legal environment for business managers, managerial finance, and statistical methods in business research. Missouri State ranks with U.S. News and World Report as a top regional university in the Midwest and top public school.
#8 – Fayetteville State University
Online MBA
Fayetteville, North Carolina
Graduate Tuition/Fees: $5,705
Fayetteville State University offers one of the cheapest online MBA programs with tuition below $6,000 per year. The distance education program is flexibly designed for business professionals and offers an affordable way to earn a graduate business degree. In addition to the flexible structure of the program, there are also ten available concentrations, allowing students to tailor their degree toward areas of interest or to meet career goals. Some of the concentrations include business intelligence and data analytics, finance, healthcare management, international business, marketing, and supply chain management. Fayetteville State ranks with U.S. News and World Report as the 95th best regional university in the South and the 38th top public school. Also, the online MBA programs rank #101 out of more than 1,200 surveyed programs.
#7 – Southeast Missouri State University
Online MBA
Cape Girardeau, Missouri
Graduate Tuition/Fees: $5,680
Southeast Missouri State University, an affordable public institution, offers one of the cheapest online MBA programs on our list. The online MBA holds the same AACSB accreditation as the on-campus MBA at Southeast Missouri, providing similar coursework rigor and emphasis. There are also several areas of concentration offered that allow students to tailor their degree to meet career goals. Concentrations include accounting, environmental management, general management, health administration, and sport management to name a few. Online classes taught by university professors cover a variety of business and management topics such as strategic marketing and the financial environment. U.S. News ranks Southeast Missouri #90 in best regional universities in the Midwest and #20 in top public schools.
#6 – University of Nevada
Online Executive MBA
Reno, Nevada
Graduate Tuition/Fees: $5,575
Similar to the many affordable online MBA programs on our list, University of Nevada offers the convenience of a distance education program that can be completed in just two years. What sets the online MBA at the University of Nevada apart from other programs is who the degree is intended for. According to the admission criteria, the executive MBA program is intended for individuals with five or more years of professional work experience beyond undergraduate studies. Courses, delivered online, adhere to the same topics covered on campus in the MBA program. These courses include economics of the firm, financial management, and statistics for decision making. U.S. News and World Report ranks University of Nevada #201 in best national universities. Also, the online MBA programs, including the online EMBA, rank #40 out of more than 1,200 programs surveyed by U.S. News.
#5 – Texas A & M University
Online MBA
Kingsville, Texas
Graduate Tuition/Fees: $5,369
Texas A&M University offers cheap online MBA programs designed for working individuals with diverse backgrounds. Small classes engage approximately thirty students at a time, allowing faculty to get to know each individual. The completion time for the degree is just 12 months, making the program one of the quickest on our list. Some of the classes you will encounter in this program include accounting and value creation, economics and managerial decision making, information systems and business analytics, and marketing management and value creation. The GMAT or GRE is not required for applicants with advanced degrees or bachelor’s degrees with an undergraduate GPA of 3.5 or better. In addition to accreditation and a quick completion time, Texas A&M at Kingsville’s online MBA program ranks with U.S. News and World Report as the 109th best online MBA out of more than 1,200 surveyed programs.
#4 – The University of Texas of the Permian Basin
Online MBA
Odessa, Texas
Graduate Tuition/Fees: $5,085
The University of Texas of the Permian Basin offers one of the cheapest online MBA programs from a public institution. In as few as 12 months, students may earn their general MBA through a convenient online format. Also, two concentration offerings allow students to hone their skills and tailor their degree to meet career goals in an area of interest. These concentrations include accounting and finance. For applicants with a solid undergraduate performance, the GMAT is waived. This means an applicant with an undergraduate GPA of 3.25 or better will not be required to submit GMAT scores. The University of Texas of the Permian Basin is accredited and ranked. In fact, U.S. News and World Report ranks the school #88 in best regional universities in the West and #32 in top public schools. Also, the online MBA programs rank #215-#284 out of more than 1,200 surveyed programs.
#3 – Georgia Southwestern State University
Online MBA
Americus, Georgia
Graduate Tuition/Fees: $4,836
Georgia Southwestern State University has cheap online MBA programs that are both accredited and highly affordable. Integrating knowledge from various functional areas, the online MBA prepares students with the skills and competencies needed to lead in the business world. Students who have not previously earned a bachelor’s degree in business or a related field must show the completion of various prerequisites to qualify for admission. Prerequisite courses include business finance, business statistics, principles of accounting, and principles of management. The cumulative GPA in the prerequisite courses must not fall below 3.0 to be eligible for admission to the online MBA. In addition to affordability and accreditation, Georgia Southwestern ranks with U.S. News and World Report as a top regional university in the South.
#2 – Cameron University
Online MBA
Lawton, Oklahoma
Graduate Tuition/Fees: $4,590
Offering affordable online MBA programs, Cameron University earns a top spot on our list of the top online MBA programs under $10,000 per year. In fact, Cameron’s online MBA costs less than $5,000 per year. The 33-credit hour program can be completed entirely online and is ideally designed for working professionals or individuals who move often due to career obligations or military deployment. Courses offered online include applied business statistics, applied business strategy, contemporary marketing problems, current issues in organizational design, and management information systems. Cameron ranks with U.S. News and World Report as a top regional university in the West. Also, the online MBA programs rank #175 out of more than 1,200 similar programs surveyed by U.S. News.
#1 – Fitchburg State University
Online MBA
Fitchburg, Massachusetts
Graduate Tuition/Fees: $3,828
Fitchburg State University offers the cheapest degree among the most affordable online MBA programs on our list. In fact, Fitchburg State is the only institution listed above to offer an online MBA that cost less than $4,000 per year. To earn the online MBA, students at Fitchburg must complete ten courses (30 credit hours), including 18 hours of core requirements, nine hours of required management concentration courses, and a single three-credit hour elective course. Admission to the program is evaluated holistically. Fitchburg examines undergraduate performance but does not require the GMAT for the online MBA. In addition to affordable tuition, Fitchburg offers rankings with U.S. News and World Report. These rankings include #137 in best regional universities in the North and #44 in top public schools. Fitchburg earns the #1 spot on our list for affordable online MBA programs.
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