There's no doubt that getting your online MBA is an investment in both time and money. However, it may not be as expensive as you think. Tuition for online MBA programs varies greatly depending on whether you're attending a public or private institution, how well known the school and business programs are and what type of online MBA program you've chosen.
Keep in mind that there are also many financing options available to help defray the costs of your education.
Regional vs. AACSB Accredited Online MBA Programs
Out of 93 accredited online MBA degrees in a survey by GetEducated.com, the average cost of a regionally-accredited MBA is $37,011 while programs accredited by the Association to Advance Collegiate Schools of Business (AACSB) averaged under $36,000. Learn more about accreditation by visiting our business school accreditation page.
Public vs. Private Online MBA Costs
Among AACSB-accredited distance learning programs, University of Massachusetts - Amherst Online MBA will cost you $32,445, James Madison University's MBA is $32,550, and Duke University's 2013 program is priced at $145,050.
Public universities offering AACSB-accredited distance learning programs vary greatly as far as tuition: in-state residents can pay as little as $9,669 at Southeast Missouri State University, $29,250 for Washington State University's online MBA, or up to $35,255 for Ohio University's program.
Financial Aid Options
The federal government enables students enrolled in online degree programs to become eligible for federal financial aid programs. As long as you are enrolled in a degree-granting program, such as an MBA, you can apply for the same financial aid programs as traditional classroom students. Private loans, scholarships and grants are also available to help you finance your online education. Learn more about your financial aid options by visiting our Financial Aid Resource Center.