Cheapest Distance Learning MBA

Last Updated on July 29, 2023

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Most Affordable MBA Degrees Online - Best Value Schools

The Master of Business Administration (MBA; also Master’s in Business Administration) degree originated in the United States in the early 20th century when the country industrialized and companies sought scientific management. The core courses in an MBA program cover various areas of business administration such as accounting, applied statistics, human resources, business communication, business ethics, business law, business strategy, finance, managerial economics, management, entrepreneurship, marketing, supply-chain management, and operations management in a manner most relevant to management analysis and strategy.

Most programs also include elective courses and concentrations for further study in a particular area, for example, accounting, finance, and marketing. MBA programs in the United States typically require completing about forty to sixty credits (sixty to ninety in a quarter system), much higher than the thirty credits (thirty-six to forty-five in a quarter system) typically required for degrees that cover some of the same material such as the Master of Economics, Master of Finance, Master of Accountancy, Master of Science in Marketing and Master of Science in Management.

The MBA is a terminal degree and a professional degree. Accreditation bodies specifically for MBA programs ensure consistency and quality of education. Business schools in many countries offer programs tailored to full-time, part-time, executive (abridged coursework typically occurring on nights or weekends) and distance learning students, many with specialized concentrations.

10 Cheapest Online MBA Programs in South Carolina

There are different types of MBA from:

Full-time MBA programs

Accelerated MBA programs

Part-time MBA

Evening (second shift) MBA programs

Modular MBA programs

Executive (part-time) MBA (EMBA) programs

Full-time executive MBA programs

Distance learning MBA programs hold classes off-campus. These programs can be offered in a number of different formats: correspondence courses by postal mail or email, non-interactive broadcast video, pre-recorded video, live teleconference or videoconference, offline or online computer courses. Many schools offer these programs.

Blended learning 

MBA dual degree programs

Mini-MBA 

MBA Careers

Where to Find the World's Cheapest Online MBA | UoPeople

An MBA prepares individuals for many types of careers. According to a survey by the Graduate Management Admissions Council, 64% of year 2012 MBA graduates used their MBA to change careers. Some of the more common jobs an MBA prepares one for include:

  • Business analyst or strategist
  • Business development analyst, associate, or manager
  • Market research analyst
  • Managing Director (of a department)
  • Investment banker
  • Entrepreneur/founder
  • Financial analyst, associate, or manager
  • Management consultant
  • Marketing associate, analyst, or manager
  • Portfolio manager
  • Project analyst or strategist
  • Product analyst, associate, or manager
  • Program analyst, associate, or manager
  • Operations analyst, associate, or manager

best affordable mba programs in the world

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.

Where to Find the World's Cheapest Online MBA | UoPeople

Here are the 10 Best Affordable Online MBA Programs:

  1. University of North Carolina at Chapel Hill – Chapel Hill, NC
  2. Johns Hopkins University – Baltimore, MD
  3. University of Florida – Gainesville, FL
  4. Creighton University – Omaha, NE
  5. Purdue University – West Lafayette, IN
  6. St. Bonaventure University – Saint Bonaventure, NY
  7. Saint Joseph’s University – Philadelphia, PA
  8. University of St. Francis – Joliet, IL
  9. Citadel Military College of South Carolina – Charleston, SC
  10. Indiana University – Bloomington – Bloomington, IN

best online mba

  1. London School of Economics and Political ScienceLondon School of Economics and Political Science PROGRAM: LSE MBA ESSENTIALS: This London School of Economics and Political Science online certificate course helps you gain holistic business skills from anywhere in the world, in just 10 weeks. Master business strategy, finance and leadership, guided by expert LSE faculty.
  2. Rice University - Jones Graduate School of BusinessRice University – Jones Graduate School of Business PROGRAM: STRATEGIC PROJECT MANAGEMENT.Learn to align project, program, and portfolio goals with organizational strategy in this 8-week online short course from Rice University.

cheapest online mba in the world

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

RankSchoolLocationCostToggleLogoTuition% Receiving Financial AidStudent PopulationSchool TypeDescription
1University of North Carolina at Chapel HillLOCATIONChapel Hill , NCTUITION$$$$$% RECEIVING FINANCIAL AID67STUDENT POPULATION30,011TUITION$125,550SCHOOL TYPEPublicUNC’s cohort-based program ranks among the best online MBA programs for its convenience and affordability. The 62-credit curriculum provides a comprehensive overview of contemporary business administration in a global context. The renowned Kenan-Flagler School of Business designed the course of study to accommodate the schedules of working professionals.The program runs largely asynchronously, and students can select concentrations in entrepreneurship, finance, marketing, strategy and consulting, or data analytics. Distance learners can select from 25 elective courses to customize their degree to their career goals. Two required in-person summits allow face-to-face networking.Kenan-Flagler reports that the average participant takes two years to complete the program and enjoys a 24% MBA salary increase upon graduation. The school boasts accreditation by the Association to Advance Collegiate Schools of Business (AACSB).ConcentrationsFinanceEntrepreneurshipMarketingStrategy & ConsultingData Analytics And Decision MakingVIEW SCHOOL PROFILE
2Johns Hopkins UniversityLOCATIONBaltimore , MDTUITION$$$$$
3University of FloridaLOCATIONGainesville , FLTUITION$$$$$
4Creighton UniversityLOCATIONOmaha , NETUITION$$$$$
5Purdue UniversityLOCATIONWest Lafayette , INTUITION$$$$$
6St. Bonaventure UniversityLOCATIONSaint Bonaventure , NYTUITION$$$$$
7Saint Joseph’s UniversityLOCATIONPhiladelphia , PATUITION$$$$$
8University of St. FrancisLOCATIONJoliet , ILTUITION$$$$$
9Citadel Military College of South CarolinaLOCATIONCharleston , SCTUITION$$$$$
10Indiana University – BloomingtonLOCATIONBloomington , INTUITION$$$$$

MBA Program Tuition Fee

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 PROVENANCEMEAN PRICE
In State$35,809
Out-of-State$43,136
Out-of-Country$44,561
Online$31,568

What Factors Affect the Affordability of an Online MBA Program?

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

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.

There are a lot of courses one can take through online MBA such as:

             Accounting    Business Administration    Business Intelligence    Business Law    Economics    Entertainment Management    Entrepreneurship    Finance    Forensic Accounting    Hotel & Restaurant Management    Human Resources    International Business    Internet Marketing    Management    Management Information Systems    Marketing    Negotiation & Conflict Management    Non-Profit Management    Organizational Leadership    Project Management    Public Relations    Real Estate    Risk Management    Sports Management    Supply Chain & Logistics    Taxation    Training & Development   

    

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Online MBA Program Financial Aid Options

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.

cheapest online mba no 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.

Master’s In Business Administration Degrees Online

Earning an online MBA can establish you as a qualified candidate for some of the most lucrative jobs in the country. Online learning allows those working full-time jobs to study at times and places most convenient for them while maintaining their professional lives. Alternatively, those with more time can work toward their online MBA full time. Many online MBA students work part time on the side or take care of their families. Depending on the program, students can work in cohorts with a group of peers who go through the same course sequence; they can work at an accelerated pace, designed by programs to decrease the time to graduation; or they can work on individual pace, going through a program at their own discretion. Those with a master’s degree typically earn more than those with lower-level educational credentials, and students with an online MBA are qualified for managerial positions in business, government, and the nonprofit sector

We started by looking at colleges and universities (public and private non-profit only) that offer MBA degrees online. Next, we narrowed our search to include only those schools with an approximate cost (taking the average of resident/non-resident rates and data from the NCES IPEDS Data Center) of less than $1,000 per credit. To ensure we only considered high-quality programs, we also limited our results to colleges that have been accredited by one of the following three business-specialized accrediting agencies:

We considered five factors when ranking the top online MBA programs for budget-conscious students. Of course, average cost-per-credit was a major consideration. As such, it accounted for 30% of each school’s overall score. Another 30% went to account for each program’s accreditation status. We awarded the most points in that category to schools with AACSB accreditation, whereas those with ACBSP accreditation earned three-fourths as many points, and IACBE half as many.

In addition, we looked at the overall size and scope of each college’s business program. To do this, we considered the number of MBA concentrations available to students (weighted 25% of the total score) and the total number of online graduate business/management-related degrees (weighted 10%) that the school offers. The larger and more diverse the program, the more resources and attention the university is willing to invest in its business students.

Finally, we gave a 5% bump to any schools that offer MBA “extras,” namely accelerated and/or dual degree programs to satisfy the most ambitious (and impatient!) students.

We tallied the results and rated the final scores on a curve so that the #1 ranked online MBA program earned a full 100 points. Keeping reading to find which 15 colleges made the final cut!

15. Franklin University

Online Master of Business Administration (MBA) Program


The online MBA at Franklin University is accredited by the International Assembly for Collegiate Business Education, requires a 2.75 cumulative GPA average for program entrance, and can be completed in 14 months. Students complete 36 hours of coursework in classes such as financial and managerial accounting, human resource management, and operations management. Students can apply in the fall, spring, and summer and do not need to provide either GMAT or GRE scores. Instructors deliver coursework focused on practical experience that explores real-world issues. Program expectations include maintaining a 3.0 GPA and earning 24 of the 36 total credits at Franklin.
Score: 57.56

14. Charleston Southern University

Online MBA Program (6 Emphases)

Website
Charleston Southern University offers one of the most affordable online MBA programs in South Carolina. The 33 credit, 11 course curriculum offers six areas of emphasis that cater to a variety of individual interests, including finance, leadership management information systems, and human resource management. The program allows students to work around their schedules and boasts programmatic accreditation from the International Accreditation Council for Business Education. Courses include managing with excellence and integrity, advanced marketing management, and contemporary business law and the legal environment. Admission requires the completion of the online application, two letters of recommendation, an academic statement, and GMAT scores.
Score: 64.09

13. Tiffin University

Online MBA (10 Concentrations)

Website
Tiffin University’s online MBA takes students as little as 14 months to complete. As an accelerated program, students complete coursework on a full-time basis. Students can, however, elect the part-time option. Prospective students do not need work experience for program entrance, but they must hold a 3.0 GPA or better for admission. Concentration options include data analytics, finance, healthcare administration, HR management, international business, leadership and change, marketing, and sports management. The finance concentration caters to those with an interest in both local and global business practice through, for example, a course on financial markets and institutions.
Score: 65.49

12. University of Saint Mary

Online MBA – Master of Business Administration (6 Concentrations)

Website
An online MBA from the University of Saint Mary gives graduates a competitive advantage in the job market. Learners can design their programs in accordance with their personal interest and professional goals, all while completing the 36-credit MBA degree. Students select one of six concentrations: leadership and organizational health, finance, general management, health care management, human resource management, or marketing and advertising management. Students take nine required courses in classes such as human resource management, managerial economics, and managerial finance. They use the remaining three courses for electives in courses such as the legal and ethical environment of business and leadership and business operations in healthcare.
Score: 66.04

11. Excelsior College

Online Master of Business Administration (10 Concentrations)

Website
Those working toward an online MBA from Excelsior College enjoy a flexible, affordable program that lets them maintain their filial and work obligations while earning an education. Students can select an MBA without a concentration or with a concentration in accounting, health care management, human resources management, or leadership. The program holds regional accreditation from the Middle States Commission on Higher Learning and programmatic accreditation from the International Accreditation Council for Business Education. Program outcomes include developed professional skills, leadership skills, and learning how to innovate in a global environment. Requirements vary by concentration, but students must complete between 36 and 45 credits.
Score: 66.22

10. North Park University

Online Master of Business Administration (15 Certificate Options)

Website
An online MBA from North Park University provides graduates with the business knowledge and expertise need to serve as leaders in their organizations. The program includes 13 core courses and five elective courses that total 36 credit hours. Course titles include organizational behavior and ethics, marketing analysis and consumer behavior, and multi-sector convergence and social responsibility. Alumni of the program work at places such as JPMorgan Chase, Motorola, and The Tribune Company. Students complete the program in 21 months, and faculty offer years of real-world expertise in finance and economics. Most students supply either GRE or GMAT scores and need a 3.0 GPA for program entrance.
Score: 67.32

9. Concordia University-Chicago

Online Core MBA (10 Specializations)

Website
Graduates of the online MBA program from Concordia University Chicago earn their credential by focusing on the degree’s four “pillars”: ethics and responsibility, critical thinking and entrepreneurial mindset, communication and human relations, and global interconnectedness and inclusiveness. Students can elect an accelerated online format, an individually paced online format, an on-campus accelerated format, or an individually paced on-campus format. Requirements include 36 total credit hours, 12 of which must focus on the core MBA curriculum. Specializations include finance, accounting, and not-for-profit management, and admission requires two letters of recommendation, transcripts from all previously attended undergraduate institutions, and at least a 3.0 GPA.
Score: 69.15

8. Pennsylvania State University-World Campus

Online MBA (10 Concentrations)

Website
Earning an online MBA from Penn State University World Campus allows graduates to work at the top of their respective fields and organizations. Concentrations in the program include accounting foundations, advanced accounting, and corporate innovation and entrepreneurship. Though students complete most of the coursework online, they are required to be on campus for a five-day residency in which they meet instructors and peers to share experiences and expertise. Members of the military and their spouses receive extra financial aid help and can use their experience for transfer credit. The school also waives application fees for military members.
Score: 69.88

7. Central Michigan University

Online Master of Business Administration (5 Emphases)

Website
An online MBA from Central Michigan University readies graduates for a globalized economy that needs workers experienced in finance, marketing, and management . Students can enter the program in the fall, spring, or summer. The program is accredited by the Higher Learning Commission and the Association to Advance Collegiate Schools of Business. Program requirements include managing information systems in a global economy, managing and leading individuals and groups in organizations, and data analysis for managers. The degree emphasizes SAP software coursework and culminates in a “Boot Camp” project where students meet face to face with faculty.
Score: 70.18

6. Concordia University-Wisconsin

Online Global Master of Business Administration (15 Concentrations)

Website
Students in Concordia University Wisconsin’s online MBA gain both practical knowledge of contemporary business software and management experience in areas such as small business and marketing. Distance learners must complete at least 39 credits to graduate and have the option of receiving scholarships for both full-time and part-time study. Common careers upon graduation include range manager and management director. The program offers both the flexibility needed to work full time while learning and the freedom to select coursework that meets a student’s particular needs. Graduates can also show potential employers a portfolio developed over the course of the program.
Score: 78.54

5. University of Houston-Clear Lake

Online Business Administration MBA (8 Concentrations)

Website
The online MBA program at the University of Houston Clear Lake offers both a full-time and a part-time option. Full-time students take 14 months to complete the program, and part-time students take 28 months to complete the program. Students may elect either the hybrid or the fully online option. Distinguished faculty with experience in their field deliver coursework that enables graduates to serve as leaders in their organizations. Core requirements include accounting for administrative control, the global environment of business, and management science and operations. A concentration in business analytics gives students the chance to learn about advanced data analysis and information systems management.
Score: 80.43

4. Webster University

Online Master of Business Administration (MBA) (15 Emphases)

Website
Distance learners in Webster University’s online MBA enjoy both coursework accredited by the Accreditation Council for Business Schools Programs and small classes that emphasize individualized attention. The school boasts the fact that 91% of its students find full-time employment upon graduation. Students must complete 27 credits of the MBA core and 9 credits in electives in order to graduate. Faculty focus on providing a holistic business education to their students through required courses in organizational behavior, applied business statistics, and management accounting. The program also offers multiple areas of concentration, including information technology management, human resources management, and health administration.
Score: 83.83

3. Saint Leo University

Online MBA Program (9 Specializations)

Website
The online MBA at Saint Leo University encourages students from a variety of backgrounds to enter the program. Coursework focuses on the primary issues that business managers encounter, including law and human resources, marketing, and finance. Graduates of the program go on to work at the governmental, nonprofit, and private sectors prepared to lead their organizations. The program highlights professional development opportunities that foster student growth, including conferences, internships, and professional memberships at places local to the institution. Graduates learn how to apply core business concepts in real-world situations, analyze the effects of global forces on their organization, and demonstrate leadership and teamworking skills. Classes include human resource in management, the legal environment of business, and managerial economics.
Score: 85.55

2. Bellevue University

Online Master of Business Administration Degree (19 Concentrations)


Students in Bellevue University’s online MBA can choose from among 19 concentrations, including cybersecurity, global economic threat environment, and human capital management. The program emphasizes the critical assessment of business performance, applying ethical measures in business situations, and both written and verbal clarity within a business setting. Students learn from faculty with practical experience in their field, and the school boasts accreditation from the Higher Learning Commission. The school also prepares students to earn licensure from The Project Management Institute, The Society for Human Resource Management, and The American Society of Transportation and Logistics.
Score: 95.3

1. Southern New Hampshire University

Online Master of Business Administration (20+ Concentrations)


The online MBA program at Southern New Hampshire University (SNHU) offers over 20 concentrations to students with a variety of interest, including economics, criminal justice, and community economic development. Additionally, the program offers affordable tuition rates that the school capped, and active-duty service members receive a 25% discounted tuition rate. Established in 1932, the MBA program at SNHU is over 40 years old and boasts a long tradition of creating business professionals ready to serve their organizations. The school’s instructors have both academic and real-world experience and provide graduates with the requisite tools to succeed in multiple positions, including managerial positions.
Score: 100

Thanks for reading our ranking of the 15 best cheap MBA programs online!

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