by Imed Bouchrika
A note from the author, Imed Bouchrika, PhD, career planning expert:
When researching this article I found out that between 2019 and 2020, applications for graduate business degrees, graduate accounting degrees, and graduate management education (GME) saw a significant increase of 2.4%, reversing the 3.1% decrease experienced the previous year. As an expert with 10+ years of experience as a career planning advisor, I have also noted how elearning statistics that I’ve been analyzing show that 36% of domestic candidates became more open to online learning (GMAC, 2021), making the best affordable online MBA programs even more attractive. Here is a list of the most affordable MBA programs online that I have researched using a wide range of academic studies and government reports. I hope it helps graduate students find the program that fits their needs best.
In the study "What Do Online Students Need And Want From Their Masters Of Business Administration Program?" Mujtaba (2005) found that online MBA students have several recommendations, including "consistency of facilitation from course to course, integration of more interaction software with faculty and other students in the class, more involvement of faculty members in the class bulletin board on regular basis, feedback from faculty members each week, and stricter enforcement of graduate-level standards consistently in each course."
In the same study that appears in the Journal of College Teaching & Learning, Mujtaba (2005) said "Most students appreciate candid feedback that is geared toward their personal and professional development as graduate researchers and practitioners."
In the same vein, students opting to study online MBA ought to consider several factors before choosing which program to enroll in, just like they would if they were considering other programs like the best online cyber security certificate programs.
Checking whether a school or its program is accredited should be a major factor when deciding where and what to enroll in. International organizations certify that the school follows all important guidelines and that the MBA program is of the highest quality. This is because accredited online schools for MBA schools provide the best education in business, finance, accounting, and related areas.
So, find a school accredited by AACSB International. This is vital because online colleges are easily faked.
Examining the MBA program's curriculum is vital. Doing so helps in deciding whether a program or curriculum offers the courses needed to develop an MBA graduate's needed competencies.
While there are indeed online MBAs cheaper than others, it is vital to compare programs' value to the programs' cost. Accredited cheap online MBA programs are not necessarily the best options. Just the same, the most expensive MBA program is not always the best.
It would help to find an MBA school that accepts outside funding, such as student loans, grants, or scholarships. Some online schools may also offer grants or scholarships to selected students.
The manner by which courses are taught matters. Schools vary in their instruction methods. Students must consider whether the methods match their disposition, needs, and preferences: whether it is purely online, with books to buy, or with much interaction between students and professors.
Academic support is critical, especially in some of the cheapest MBA online schools, since it is difficult for students to get help to consider the lack of in-person interaction. It is best if schools have staff available to answer students' queries, be it technical or curriculum-related.
Job placement or career advancement is typically the end of taking an MBA. As such, students may want to look into whether the schools they are considering have career placement services. With such services, students will receive help in getting jobs, and the sooner they can recover their educational investment. Some even have ties with institutions abroad. These can be an avenue toward international business careers.
Source: GMAC Alumni Perspectives Survey Report 2016
Who best can say if an institution or a program is worthwhile but its current students or alumni? Talking to current or former online MBA students is a great way to learn about the school. They are usually more upfront and honest.
Besides, some renowned institutions may offer online courses not as rigorous as schools with both online and on-campus programs. Choosing a school with a good reputation for on-campus programming might help predict their online learning reputation, but this may not be true for all. It is always best to ask those who have experienced being in the programs.
Chances are, students pursuing distance MBA degrees, or online bachelor degree programs for that matter, would never set foot on campus or meet their classmates to work with them and gain experience together. However, employers will consider applicants' leadership and work environment experience when making hiring decisions. As such, it is best to check if online bachelor degree programs have options for completing internships or receiving credit for work done in conjunction with studies. The more experience graduates of online bachelor degree programs have, the better prepared they will be for the job market after graduation.
The best affordable MBA programs, like any other academic endeavor, call for students to invest time, money, and energy. As such, thorough research of schools would help make sure that the choices students make are worthwhile.
The Guardian notes that demand for MBA courses tends to be 'countercyclical' and that a career break to update skills and build a professional network at business school is much less costly when a recession is imminent. In response to the pandemic, in 2020, more applications came in, and schools struggled to convert the increased applications into actual enrollments. (Choudaha, 2020)
GME offers a way out of the economic crisis with better job prospects. Despite concerns about online learning, travel, and visas leading to an increase in deferral rates (Choudaha, 2020), with international students being more likely to defer than domestic students (GMAC, 2021), online learning remains a viable option given the pandemic and economic downturn.
For those hoping to earn an MBA amidst the global health crisis, here is a list of the cheapest MBA programs online, their estimated tuition per credit hour for non-residents (under $500/credit hour), total credits, and other details.
Source: GMAC Application Trends Survey 2021
The MBA program of Northeastern State University (NSU) covers advanced topics in accounting, finance, economics, business analytics, and management. If you are looking for the cheapest MBA that you could get, the school presents a strong case
Location: Tahlequah, Oklahoma
Accreditation: Accreditation Council for Business Schools and Programs (ACBSP)
Tuition: $251.00
Total credits: 36
Concentration/s:
Georgia Southwestern State University educates students by combining world-class faculty expertise with community experience. Students learn about market ethics, values, and multicultural influences.
Location: Americus, Georgia
Accreditation: AACSB International
Tuition: $257.00
Total credits: 30
Concentration/s: General Business
The MBA program at Fitchburg State University can be completed in as little as 12 months. Students can graduate and begin their careers ahead of other university graduates.
Location: Fitchburg, Massachusetts
Accreditation: International Accreditation Council for Business Education (IACBE)
Tuition: $275.00
Total credits: 30
Concentration/s:
Eastern New Mexico University's MBA program covers finance, entrepreneurship, marketing, and business research, among others. Graduates become human resource specialists, business owners, and management analysts.
Location: Portales, New Mexico
Accreditation: ACBSP
Tuition: $297.25
Total credits: 30
Concentration/s: General Business
The Missouri State University (MSU) College of Business designed its Master of Business Administration program to meet changing business needs. It accepts applications on a rolling basis. However, it is advised to apply early as seats fill up quickly.
Location: Springfield, Missouri
Accreditation: AACSB International
Tuition: $309.00
Total credits: 33
Concentration/s: General Business
The University of the Cumberlands offers an MBA program designed for busy professionals and students juggling work and family obligations. The program's flexibility is enhanced by several concentrations, which allow students to personalize their degrees.
Location: Williamsburg, Kentucky
Accreditation: IACBE
Tuition: $315.00
Total credits: 37
Concentration/s:
Sam Houston State University's MBA program is available to qualified students from any academic discipline. This flexible program has three start dates throughout the year.
Location: Huntsville, Texas
Accreditation: AACSB International
Tuition: $320.00
Total credits: 36
Concentration/s: General Business
The University of Central Arkansas (UCA) is committed to values such as innovation, creativity, and personal development. Students can choose to study either full-time or part-time to complete the program.
Location: Conway, Arkansas
Accreditation: AACSB International
Tuition: $325.00
Total credits: 30
Concentration/s:
Texas Tech's Rawls College of Business offers a 100% online MBA program. One may complete the degree as either a full-time or part-time student. Accounting, finance, leadership, and ethics are among the topics covered in these courses.
Location: Lubbock, Texas
Accreditation: AACSB International
Tuition: $333.00
Total credits: 30
Concentration/s:
Southeastern Oklahoma State University (SOSU) is committed to improving lives through higher education. Its online MBA program is one of its highlights. Students are honed to become leaders in a variety of roles and occupations.
Location: Durant, Oklahoma
Accreditation: AACSB International
Tuition: $337.00
Total credits: 36
Concentration/s:
Fort Hays State University's flexible MBA program combines core MBA coursework with concentrations and is designed for working professionals. All MBA core classes run for eight weeks, allowing for more flexibility and starting the program five times a year.
Location: Hays, Kansas
Accreditation: Higher Learning Commission of the North Central Association of Colleges and Schools
Tuition: $350.00
Total credits: 33
Concentration/s:
Emporia State University's 100% online MBA program centers on best practices in business management. In this rigorous program, students gain quantitative insights into business practices, understand organizational behavior from a managerial perspective, and develop the analytical skills needed to drive key organizational decisions.
Location: Emporia, Kansas
Accreditation: AACSB International
Tuition: $363.00
Total credits: 33
Concentration/s:
The MBA program at American Public University prepares students for the global business world. The program has 18 concentrations, ranging from sports management to leading the digital workplace to government contracting.
Location: Charles Town, West Virginia
Accreditation: ACBSP
Tuition: $370.00
Total credits: 39
Concentration/s:
Southeast Missouri State University (SMSU) offers an MBA with several concentrations. The program focuses on hands-on experience and practical skills in sales, marketing, organization, leadership, and finance.
Location: Cape Girardeau, Missouri
Accreditation: Network of International Business Schools (NIBS), AACSB-International
Tuition: $374.00
Total credits: 33
Concentration/s:
Chadron State College offers an MBA that one can earn entirely online. The program covers managerial accounting, corporate finance, business strategy, marketing management, high-performance leadership, organizational behavior, and the legal/social environment.
Location: Chadron, Nebraska
Accreditation: ACBSP
Tuition: $380.00
Total credits: 36
Concentration/s:
Kennesaw State University offers a rigorous online MBA program committed to the quality of its traditional campus program minus the constraints of classroom schedules. The program has high retention, student satisfaction, and graduation rates.
Location: Kennesaw, Georgia
Accreditation: AACSB International
Tuition: $383.00
Total credits: 30
Concentration/s: General Business
The University of Sioux Falls' MBA program offers flexibility, small class sizes, personal attention from professors, and low tuition. Each career path can be tailored to students' needs and interests.
Location: Sioux Falls, South Dakota
Accreditation: IACBE
Tuition: $390.00
Total credits: 36
Concentration/s:
Northwest Missouri State University's MBA program offers five concentrations. The programs can be completed part-time or full-time online.
Location: Maryville, Missouri
Accreditation: ACBSP
Tuition: $400.00
Total credits: 30
Concentration/s:
Longwood University's MBA program includes strategic thinking and decision-making, as well as technological advancements and insights. Students will learn about interpersonal and intergroup conflict dynamics, managerial accounting and economics, data management, information technology, entrepreneurship, teamwork, negotiation, conflict resolution, and strategic marketing, among others.
Location: Farmville, Virginia
Accreditation: AACSB International
Tuition: $407.00
Total credits: 31
Concentration/s:
The MBA program at West Texas A&M University offers a range of options for students seeking a business degree. It is asynchronous. Students who do not wish to complete their program entirely online may take some courses on campus. The program is designed for working professionals and can be completed in up to six years, but most students finish in two years.
Location: Canyon, Texas
Accreditation: AACSB International
Tuition: $410.00
Total credits: 37
Concentration/s:
New Mexico State University's MBA program is designed for working professionals who want to further their education without jeopardizing their careers. The program offers hybrid MBA courses, combining online and in-person instruction.
Location: Las Cruces, New Mexico
Accreditation: AACSB International
Tuition: $412.00
Total credits: 36
Concentration/s: General Business
The MBA program of Lamar University is online only and takes a year to earn for full-time students. The program centers not only on theory but also on practical applications.
Location: Beaumont, Texas
Accreditation: IACBE
Tuition: $420.86
Total credits: 30
Concentration/s:
Cameron University School of Graduate and Professional Studies is committed to helping students succeed as MBA graduates. This MBA program is ideal for working professionals or recent bachelor's degree graduates looking to stand out in a competitive field.
Location: Mitchell, South Dakota
Accreditation: IACBE
Tuition: $425.00
Total credits: 33
Concentration/s: General Business
The MBA program at Dakota Wesleyan University provides students with a number of options for enhancing their professional abilities, obtaining credentials that fit their requirements, and doing so in a manner that is both cost-effective and applicable to their specific situation.
Location: Lawton, Oklahoma
Accreditation: ACBSP
Tuition: $425.00
Total credits: 36
Concentration/s: General Business
William Carey University's MBA program combines management theory and decision-making. The program accepts non-business majors as well as business majors. A student's course load will vary from 30 to 39 semester hours depending on prior business coursework. The MBA program is available 100% online.
Location: Hattiesburg, Mississippi
Accreditation: IACBE
Tuition: $430.00
Total credits: 30
Concentration/s: General Business
Southern Arkansas University's vision is to provide 'quality, comprehensive' education to all Americans. SAU's 4+1 program for business majors allows students to finish their BBA and MBA in five years. Graduates will be able to communicate effectively, be socially responsible citizens, think critically and solve problems, and use technology effectively in business.
Location: Magnolia, Arkansas
Accreditation: AACSB International
Tuition: $446.00
Total credits: 30
Concentration/s: General Business
West Liberty University has been educating students since 1837. Its MBA program is 12-months long with three start dates. Students complete 10 courses over a seven-week period.
Location: West Liberty, West Virginia
Accreditation: IACBE
Tuition: $460.00
Total credits: 30
Concentration/s:
University of North Alabama's (UNA) MBA and Executive MBA options provide research and experience-based learning that benefit students through the exploration of case studies, real-world business problems, and dynamic business skills, knowledge, and strategies.
Location: Florence, Alabama
Accreditation: AACSB International
Tuition: $475.00
Total credits: 34
Concentration/s:
Texas A&M University partners with local businesses and organizations to teach current information and allow MBA students to practice in real-world situations.
Location: Texarkana, Texas
Accreditation: AACSB International
Tuition: $478.00
Total credits: 36
Concentration/s:
The MBA program at Southern Utah University allows students to develop professionally and with multiple skills. They can work with global companies or local businesses. The accelerated program allows full-time students to complete the MBA in one year if they have completed a set of prerequisite courses. The degree can be completed entirely online.
Location: Cedar City, Utah
Accreditation: AACSB International
Tuition: $485.00
Total credits: 33
Concentration/s:
The Mississippi State University online MBA program offers flexible online courses that cover business decision analysis and competitive strategic management. The GRE is not currently required for online MBA admission.
Location: Mississippi State, Mississippi
Accreditation: AACSB International
Tuition: $489.00
Total credits: 30
Concentration/s: General Business
Fayetteville State University's online MBA program allows students to focus on specific business interests. It is so designed so that students' careers would not suffer while they advance their knowledge since the concentration is adaptable.
Location: Fayetteville, North Carolina
Accreditation: AACSB International
Tuition: $494.00
Total credits: 36
Concentration/s:
When you're done with your online bachelors degree in finance or other business-related degrees, and you have gained enough work experience, you can proceed with an MBA without worrying so much about the cost. various institutions that offer cheap MBA online programs make it easier for business students to advance their careers, especially in this time of economic downturn.
However, whether an online MBA would be worth it depends on whether it addresses the students' needs. While an MBA might surely provide graduates with better career opportunities, more competitive salaries, or promotions at work, students must still consider value for money.
Apart from looking at the cost of a master's program, it is best to check the curriculum, the method of instruction, and other factors before deciding on where to enroll. Only then will an online MBA, or any degree for that matter, be worthwhile.
For a more specialized business career, consider one related to construction. Construction management degree online cost is quite close to business administration, so it is quite a viable alternative. Another option is to share your knowledge through teaching; if this piques your interest, look into masters degrees in education online.
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by Imed Bouchrika, Phd
by Imed Bouchrika, Phd
by Imed Bouchrika, Phd
by Imed Bouchrika, Phd
by Imed Bouchrika, Phd
