Prospective MBA students may consider tuition costs, which can exceed $80,000 per year, as a serious barrier of entry to pursuing their degrees. However, select schools offer lower-cost options, providing MBAs for as low as $12,000 annually. Attendees may find an MBA worth the price to develop business, finance, and marketing skills.
Graduates can pursue advanced roles in various industries. Almost every sector needs graduates with knowledge provided by MBA programs. Students can enroll in specialized MBAs to increase their chances of finding careers that align with their interests.
MBA degrees can offer a return on investment through career trajectory and earnings increase. According to the Graduate Management Admission Council, MBA degree-holders earned an average of $50,000 more than bachelor's degree-holders in 2023.
Individuals interested in these programs can review the most affordable online MBA programs below. This guide also discusses MBA courses, specializations, and costs.
Popular Online Programs
Learn about start dates, transferring credits, availability of financial aid, and more by contacting the universities below.
Top Most Affordable MBAs
#1 Most Affordable Online MBA Programs 2024
University of North Carolina at Chapel Hill
- Chapel Hill, NC
- 4 years
- Online + Campus
Programmatic Accreditation: Association to Advance Collegiate Schools of Business (AACSB)
Cost per Degree:
In-State | $125,589
Out-of-State | $125,589
Credits to Graduate: 62
UNC Online's MBA degree from the Kenan-Flagler Business School takes 18-36 months to complete and offers part-time and full-time options. The AACSB-accredited program holds a STEM designation and offers concentrations in areas like management and leadership, finance, and entrepreneurship. Learners can also create custom curricula by taking electives in any field.
Admission requirements include a bachelor's degree and at least two years of professional experience. Applicants do not need to submit GMAT or GRE scores if they hold at least five years of professional experience.
Percent Online Enrollment
29%
Percentage of all students who are enrolled online.
Accreditation
Yes
Southern Association of Colleges and Schools Commission on Colleges
#2 Most Affordable Online MBA Programs 2024
University of Florida
- Gainesville, FL
- 4 years
- Online + Campus
Programmatic Accreditation: Association to Advance Collegiate Schools of Business (AACSB)
Cost per Degree:
In-State | $58,000 (two-year program), $48,000 (16-month program)
Out-of-State | $58,000 (two-year program), $48,000 (16-month program)
Credits to Graduate: 32 (one-year program) or 48 (two-year program)
UF's online MBA program from the Warrington College of Business focuses on management and leadership. Students can enroll in two pathways: a 16-month program and a flexible 24-month track.
In 1999, UF was one of the first schools to offer an accredited online MBA. To qualify for admission to the program, applicants need at least two years of full-time professional experience. The university also assists with navigating conversations around requesting employers to cover tuition.
Percent Online Enrollment
57%
Percentage of all students who are enrolled online.
Accreditation
Yes
Southern Association of Colleges and Schools Commission on Colleges
#3 Most Affordable Online MBA Programs 2024
Johns Hopkins University
- Baltimore, MD
- 4 years
- Online + Campus
Programmatic Accreditation: Association to Advance Collegiate Schools of Business (AACSB)
Cost per Degree:
$144,000
Credits to Graduate: 54
Johns Hopkins's online MBA program from the Carey Business School focuses on developing leadership, entrepreneurship, and resilience. Learners can choose from eight specializations and benefit from case competitions, student clubs, and a community consulting lab.
The 2-3 year fully online program offers synchronous and asynchronous options. Students can complete various in-person experiences, including global immersions, leadership development expeditions, and accelerated electives. The program also offers online experiential learning options.
Percent Online Enrollment
80%
Percentage of all students who are enrolled online.
Accreditation
Yes
Middle States Commission on Higher Education
#4 Most Affordable Online MBA Programs 2024
William & Mary
- Williamsburg, VA
- 4 years
- Online + Campus
Programmatic Accreditation: Association to Advance Collegiate Schools of Business (AACSB)
Cost per Credit:
In-State | $1,425
Out-of-State | $2,025
Credits to Graduate: 49
William and Mary's online MBA from the Raymond A. Mason School of Business explores leadership and problem-solving in a global context. The program requires 12 courses and limits enrollment to 22 students per class.
More than 96% of William and Mary's online MBA alumni say their satisfaction with the program is "high" or "very high." The college reports an average salary of $135,686 for its MBA graduates. Alumni work for companies like Microsoft, Amazon, JP Morgan Chase, and Charles Schwab.
Percent Online Enrollment
25%
Percentage of all students who are enrolled online.
Accreditation
Yes
Southern Association of Colleges and Schools Commission on Colleges
#5 Most Affordable Online MBA Programs 2024
California State University-Long Beach
- Long Beach, CA
- 4 years
- Online + Campus
Programmatic Accreditation: Association to Advance Collegiate Schools of Business (AACSB)
Cost per Degree:
In-State | $30,400
Out-of-State | $49,400
Credits to Graduate: 48
CSULB's online MBA is a cohort-style program for full-time working professionals. The program starts with an orientation where students meet their cohorts, faculty, and alumni. Half of the coursework is synchronous, requiring learners to log on one night a week for a live class, and the other half occurs asynchronously.
Each applicant needs a bachelor's degree from an accredited college and at least three years of work experience. Completing the degree takes 3.5 years for part-time students and two years for full-time learners.
Percent Online Enrollment
87%
Percentage of all students who are enrolled online.
Accreditation
Yes
Western Association of Schools and Colleges Senior Colleges and University Commission
#6 Most Affordable Online MBA Programs 2024
The University of Texas Rio Grande Valley
- Edinburg, TX
- 4 years
- Online + Campus
Programmatic Accreditation: Association to Advance Collegiate Schools of Business (AACSB)
Cost per Credit:
In-State | $472
Out-of-State | $472
Credits to Graduate: 36
UTRGV's fully online MBA degree helps students develop project management and leadership skills. The accelerated program features seven-week courses and takes just 12 months to complete.
The curriculum includes courses like advanced corporate finance, information systems for managers, marketing strategy, and business research. The total estimated cost of the degree is $17,000, making it significantly more affordable than many other online MBA programs. Online students can apply for UTRGV's one-time graduate select scholarship.
Percent Online Enrollment
78%
Percentage of all students who are enrolled online.
Accreditation
Yes
Southern Association of Colleges and Schools Commission on Colleges
#7 Most Affordable Online MBA Programs 2024
University of Illinois Urbana-Champaign
- Champaign, IL
- 4 years
- Online + Campus
Programmatic Accreditation: Association to Advance Collegiate Schools of Business (AACSB)
Cost per Credit:
In-State | $332
Out-of-State | $332
Credits to Graduate: 72
UIUC's online iMBA from the Gies College of Business features a customizable curriculum that allows students to choose their own focuses. The fully online, self-paced program can take 24-60 months to complete and does not require any campus visits.
The iMBA costs an estimated $23,904 for the entire degree, and students can pay as they go. Applicants do not need to submit GMAT or GRE scores. UIUC reports that 65% of students received a job offer, promotion, or new job while in the iMBA program.
Percent Online Enrollment
84%
Percentage of all students who are enrolled online.
Accreditation
Yes
Higher Learning Commission
#8 Most Affordable Online MBA Programs 2024
Ana G. Mendez University
- Orlando, FL
- 4 years
- Online
Cost per Credit:
In-State | $495
Out-of-State | $495
Credits to Graduate: 42
AGMU's online MBA with a specialization in management degree focuses on the theory and practice of management. Required classes include advanced strategy management, business economics, project management, and pricing and value management. Each enrollee must complete a research or capstone course to graduate.
To qualify, an applicant needs a bachelor's degree in management or a degree in another field with six credits of financial accounting from an accredited school. Potential careers for graduates include chief executive officer, manager, and consultant.
Acceptance Rate
Not provided
Percent Online Enrollment
100%
Percentage of all students who are enrolled online.
Accreditation
Yes
Middle States Commission on Higher Education
#9 Most Affordable Online MBA Programs 2024
Western Governors University
- Salt Lake City, UT
- 2 years
- Online
Programmatic Accreditation: Accreditation Council for Business Schools and Programs (ACBSP)
Cost per Six-Month Term:
In-State | $4,955
Out-of-State | $4,955
Credits to Graduate: 11 courses
WGU's online MBA degree can prepare graduates to become business leaders in as little as 12 months. Each learner completes 11 courses exploring ethical leadership, operations management, and data-driven decision-making. Enrollees can advance through the curriculum as they demonstrate mastery of the material, allowing them to speed up or slow down their progression as necessary.
At the end of the program, enrollees complete capstone projects to graduate. The program can develop management, operations, communications, and data analysis skills. WGU reports that MBA graduates increased their salaries by an average of $14,025.
Acceptance Rate
Not provided
Students Enrolled
150,116
Percent Online Enrollment
Not provided
Accreditation
Yes
Northwest Commission on Colleges and Universities
#10 Most Affordable Online MBA Programs 2024
University of South Florida
- Tampa, FL
- 4 years
- Online + Campus
Programmatic Accreditation: Association to Advance Collegiate Schools of Business (AACSB)
Cost per Credit:
In-State | $497-$750
Out-of-State | $497-$750
Credits to Graduate: 33
USF's online MBA from the Muma College of Business can prepare students for leadership roles addressing contemporary challenges in business. Most learners enrolled in the program work full time and graduate in 2-3 years. The degree requires foundation, core, elective, and capstone courses and offers various professional development opportunities.
Students can choose from six optional concentrations, including blue economy, cybersecurity, healthcare analytics, and finance. Courses develop skills in professional communication, ethics, and financial analysis.
Percent Online Enrollment
66%
Percentage of all students who are enrolled online.
Accreditation
Yes
Southern Association of Colleges and Schools Commission on Colleges
At OnlineMBA.com, we rely on reputable sources to rank the best MBA programs. We use trusted sources like the National Center for Education Statistics (NCES) and Integrated Postsecondary Education Data System (IPEDS) to find standout programs. We consider four metrics: affordability, reputation, academics, and program availability.
This ranking is from 2024. Visit our rankings methodology page to learn more about how we rank programs.
Why Get an Affordable Online MBA?
Affordable MBA programs offer more than just cost savings. Many of these programs feature convenient online delivery formats. Distance learning can provide additional flexibility and make it easier for learners to work while they study, further improving their economic outcomes.
Other benefits of pursuing affordable online MBA programs include:
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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 schools, concentrations, and specializations.
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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 see a strong return on their educational investment through increased salaries.
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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
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Viewpoint Diversity
Online MBA programs often attract students with diverse backgrounds and viewpoints, bringing a deeper, more enriched pool of ideas to the virtual classroom.
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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 globally.
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 with strong job placement rates and high average salaries also merit consideration.
Online MBA programs may also be cheaper due to lower transportation costs and an enrollee's ability to study at home and continue working while in school, offsetting tuition costs.
Students do not need to sacrifice educational quality to achieve savings. Prioritize the following factors as you seek affordable MBA options:
Accreditation
Students seeking affordable online MBA programs should ensure each school's accreditation status. Independent evaluators assess schools and the programs within them. Programmatic accreditors include the Association to Advance Collegiate Schools of Business, the Accreditation Council for Business Schools and Programs, and the International Accreditation Council for Business Education.
Affordability
Top programs ensure that students can graduate without 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 alumni salaries, promotions, employment rates, and impressive employers and/or job titles. Prospective students should research each program's graduation rate — schools with 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 coursework and ample opportunities for program and community involvement. Whether pursuing affordable online MBA programs or on-campus experiences, learners should compare degrees 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 can prioritize curricula focusing more on specializations than on MBA core courses.
What to Expect from Affordable Online MBA Programs
Affordable online MBA programs instill managerial, business, and finance skills — often entirely from a distance. Graduates can apply their knowledge to evaluate opportunities, generate business solutions, and communicate effectively. Assignments hone these skills through 36-60 required credits. Attendees can complete their credit requirements within 1-3 years, depending on program pace and requirements.
MBAs typically require students to complete most credits within the program. Attendees with relevant experience may receive permission to replace specific core courses with additional electives. Transfer-friendly institutions may allow 6-12 transfer credits toward MBA programs. The list below highlights common prerequisites for incoming transfer credits.
- Credits must come from a graduate program
- Course grade must be "B" or higher
- Credits must have been completed within the last four years
- Another degree does not encompass the credit
Specialized MBAs
MBA programs may allow or require attendees to choose concentrations. Focus courses develop expertise within specific fields. Degrees may provide concentrations in business analytics, entrepreneurship, finance, and more. Schools may offer between no specializations or upward of a dozen or more.
Candidates with specific tracks in mind should ensure that their prospective programs offer relevant specializations for their needs. They can also identify popular industries and pursue MBA concentrations that lead to high-paying roles.
Enrollees may declare one or more concentrations, depending on the curriculum. These specializations usually require a minimum of 12 relevant credits, and institutions may count concentration courses as elective credits.
Popular Online MBA Courses
MBA curricula usually cover the same core topics, including leadership, economics, and statistics. However, institutions differ in the time spent on each subject and the availability of elective options. Some programs may also require MBA capstones or thesis projects. The following list discusses popular classes offered by most MBA programs.
- Microeconomics: This MBA course covers microeconomic topics like consumer behavior, market price, supply, and demand. Courses may discuss advanced topics, including decision-making with imperfect information and complex pricing models.
- Leadership: Leadership courses teach methods to lead and communicate with individuals, groups, and organizations. Attendees study how to identify organizational issues, resolve conflicts, and influence others through soft power. Students may receive hands-on leadership experience through group simulations and projects.
- Valuations: This course covers theoretical frameworks that professionals use to appraise a company's worth. Students learn the underlying accounting and financial knowledge to implement discounted cash flow models and calculate price multiples. The course may discuss advanced valuation methods, including leveraged buyouts.
- Capstone Course: Enrollees can create theoretical business ventures through capstone classes. They often need to choose a feasible idea, test the project's potential, and discuss how to market the product. The project should demonstrate demand and avenues to profitability. Enrollees typically present their businesses to peers and professors.
Making Affordable Online MBA Degrees Even Cheaper
Affordable MBA enrollees must pay for tuition and create a personal budget to cover studying and the cost of living. Students can obtain financial aid to help pay for tuition and related expenses. The following list discusses popular financial aid options.
- Scholarships: This form of funding may have various need-based or identity-related requirements, but recipients do not need to repay funds.
- Grants: Grants usually have financial need prerequisites; funds do not need to be repaid.
- Loans: Private and public sources may offer loans, which require repayment with interest.
Other ways to save money can include:
- Accelerated Programs: MBA programs may offer a per-credit or per-semester payment option. Attendees in programs that charge per semester can take accelerated programs to reduce the total number of required semesters. Accelerated MBA programs can be completed within one year, leading to a 1-2 semester tuition savings.
- Not Moving: Traditionally, students would need to attend in-person courses and live near campus. Affordable online MBA program attendees can save money by taking courses online and living at home. Enrollees can also save money by avoiding costs relating to travel and relocation.
- Review Tuition Rates: MBA tuition can range from $12,000-$168,000 for entire programs. Applicants can review programs online and compare costs. Students may face a tradeoff between price and school desirability — programs with strong reputations and diverse curricula may demand a higher tuition rate.
- Reduce Unnecessary Costs: Students may need to spend money on books and computer applications during their studies. They can save money by renting books and finding student software discounts through their school or third parties. Enrollees may also reduce costs by avoiding optional MBA experiences, including study-abroad or global immersion programs.
Online MBA Programs Without the GMAT
MBA applicants may need to take the GMAT, which requires a $275-$300 registration fee, depending on the testing location. Students who wish to retake the exam must pay the registration fee again. GMAT enrollees may incur other costs, including rescheduling, cancellation, and score report fees.
Individuals taking the GMAT can prepare through self-study or formal courses. Prospective test-takers looking to save money can buy a set of books for $50-$150. Applicants who learn better from online assessments, guides, and practice tests may prefer GMAT courses, which cost $300-$900.
Many MBA programs do not require GMAT scores for admission. Candidates who wish to avoid the time and hassle of taking the GMAT can prioritize test-optional MBAs.
Common Questions About MBA Costs
How can I save money getting an MBA degree?
MBA enrollees can save money by applying for accelerated programs, living at home, and renting textbooks. Students can also pursue financial aid opportunities to lower their overall costs.
What's the cheapest way to get an MBA?
Start by comparing prices among the most affordable online MBA programs. Degrees offered by public institutions offering flat-rate tuition for distance learners may provide the cheapest pathways.
How much should I pay for an online MBA?
MBA programs can cost $12,000-$168,000. Attendees can consider these programs a lifelong investment as they experience career advancement and salary increase opportunities after graduation.
Is an online MBA worth it?
Yes — an affordable online MBA program can be worth the time and effort. Enrollees receive the same education as in-person students while saving on transportation, housing, and extracurricular costs.
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