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4 Most Affordable Online MBA Programs

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Earning an online MBA degree is always an investment.

Tuition for online MBA programs varies greatly depending on several factors, including the school’s reputation and the type of the MBA program. If you’re interested in earning an online MBA degree, you may have to save at least $20,000 to finance your online study. If you’re looking for an affordable online MBA program, any of the four selections below will be right for you.

Penn State Online MBA Program

The Penn State online MBA program is accredited by the AACSB, the most prestigious accreditation board for business schools. This AACSB-accredited program is created for busy working professionals who are seeking for better career advancement in the global economic environment. The Penn State online MBA program features various benefits, such as:

• Rich interaction and networking opportunities

• Integrated curriculum

• High-quality customer service

• A team of teaching faculty experts

You don’t have to be worried about your career opportunities after graduation. You will be prepared for various positions, such as chief executive officer, chief financial officer, executive vice president of finance, IT director, global controller, engagement director and vice president of operations.

The online MBA program seems to be really appealing. How about the tuition costs? If you’re enrolled in the Fall 2012, the 2-year program will cost you $58,352. For those who’re planning to start the program in Spring 2013, the cost will be $59,312 for the 2-year program. An application fee of $65 will be charged.

The costs include all possible fees, including tuition, course materials, books, and room & board during the residency experiences. Non-Pennsylvania residents do not have to pay any additional fees. It seems that the costs for Penn State online MBA program are a bit expensive. However, all AACSB-accredited programs cost more than regular schools that carry ACBSP or IACBE accreditation. Compared with other AACSB-accredited online MBA programs, this online program is much cheaper.

University of Florida Online MBA

University of Florida offers various flexible MBA programs for people who want to keep the current job and pursue an MBA. The online MBA program is one of two best MBA programs in the world. The Economist awarded the University of Florida’s online MBA program with the top rating of “excellent”.

The online MBA program offers two options for students: two-year program and one-year program. The two-year online MBA program allows students to earn an online MBA degree in about 27 months. The program is available for all undergraduates regardless of the degree major.

There’s another accelerated program for online MBA degree. The one-year program will enable students to earn a degree in 16 months. However, the one-year program is only offered for business degree majors who graduated within the last seven years. Applicants must have two years of full-time, professional work experience to apply for the University of Florida’s online MBA program.

You must be concerned with the program cost. Earning an MBA degree through the University of Florida’s online MBA program will cost you $46,000. If you need financial assistance, you can apply for federal student loans and private loans as long as you’re U.S. citizens or permanent residents.

Liberty University’s Online MBA Program

If you’re looking for a more affordable online MBA program, perhaps you can consider Liberty University Online. Two online MBA programs are available: 36-credit-hour option and 45-credit-hour option. Thanks to Liberty University’s affordable tuition rates, the 36-hour online MBA-program will only cost you $16,128 and the tuition for the 45-credit-hour online MBA program will be $20,160.

It’s no secret that Liberty University Online is the largest non-profit provider of accredited online education. With regional accreditation from the Commission on Colleges of the Southern Association of Colleges and Schools (SACS-COC), Liberty University online MBA programs offer degrees that will be recognized by employers.

Just like many other online MBA degree programs, Liberty University’s 45-credit-hour online MBA program allows students to choose from various specializations, including accounting, criminal justice, healthcare management, international business, public administration, public relations and marketing etc. Based on your specific specialization, you’ll be fully prepared for various potential career positions, like business owner, finance manager, HR manager and global industry manager etc. Without any doubt, an online MBA earned from Liberty University can help your career take off.

Southeast Missouri State University Online MBA

Southeast Missouri State University also has an online MBA program for general management. This is a 33-credit-hour program. The tuition rate for Missouri residents is $284.5 per credit hour. Thus the total tuition cost will be up to $9,388. If you’re a non-Missouri resident, you’ll be charged higher fees. You may have to pay $493 each credit hour. Then your total costs will amount to $16,269. Surprised at the super low tuition costs? It’s true!

You may doubt the quality of your online MBA education. It’s known that fewer than 400 MBA programs worldwide are accredited by the Association to Advance Collegiate Schools of Business (AACSB). The online MBA program of Harrison College Business at Southeast Missouri State University is one of these programs. The AACSB accreditation can ensure program quality.

In order to apply for this online MBA program, you must have an undergraduate degree in AACSB accredited business program. Applicants with an equivalent from an accredited institution also qualify.

Note: Though Southeast Missouri State University offers nine degree options for MBA studies, including international business, entrepreneurship, industrial management, environment management, finance and accounting. However, the online MBA program is only available for the General Management option.

In fact, a large number of online schools are offering affordable MBA programs. When it comes to affordable online MBA programs, you should not only pay attention to the tuition rates and total costs. If you want to graduate from an AACSB-accredited MBA program, you’ll have to pay more. Online MBAs earned through AACSB-accredited programs always have wider acceptance all over the world. So it’s absolutely worth paying the extra money. If you find any online MBA program that claims to charge unbelievably low fees, be cautious as it might be a scam.

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