MBA courses don’t have to cost a fortune. We’ve gathered the best free online MBA courses in 2020 here!
If you’re thinking of getting an MBA, why not try for free first? With options for tuition-free online MBA degrees, employee funding, and full scholarships, you don’t need to spend a penny on your diploma. You can also piece together your own online MBA with free online MBA courses offered in subjects such as finance, marketing, management and more. Check out our list of the best free online MBA courses in 2020 here!
What’s in an MBA Degree & Why Study it?
The top specializations for MBA programs include entrepreneurship, finance, marketing, strategy and management. But no matter which MBA concentration you choose, you will be given a breadth of study topics in business foundations such as negotiation and communication, business strategy, finance and management and leadership.
With an MBA, you will learn countless skills not taught in the classroom as well, such as how to network, get ahead in business, negotiate, creative thinking and analytical skills, as well as the most up-to-date topics in business. Still on the fence? Here’s everything you need to know about getting an MBA (Blog post: Should I get an MBA. Everything You Need To Know)
Average Cost of Business School
A big topic on everyone’s mind these days is if an MBA is worth the high ticket price you pay. Will you get a good return on your time and financial investment? With top program costs in the United States at $130,000 for a 2-year program, applicants should do their due diligence to find that out before enrolling. Worried about debt after graduation? Check out these tips on how to stay debt free with an MBA. (Blog Post: MBA cost In USA Keep Rising. Top Tips to Study Debt Free)
While tuition is less in other parts of the world, business school still remains one of the most expensive educational programs frequently sought after. European MBAs can cost between $60,000 – $90,000, in Australia the numbers average $50,000 – $110,000. Less expensive business schools around the world include Singapore (as low as $38,000 for a one-year MBA), and Canada (as low as $23,000). Other countries, such as Brazil, offer free tuition for citizens, but fees can still end up being in the $2,000 – $10,000 range. In South Africa, you can find an MBA program for less than $5,000.
Free MBA Options
Get a full return on your investment with these free options for MBAs in 2020:
1. Full Scholarship
There are countless ways to find scholarships and grants these days, and you can even manage to find full scholarships — ones that will cover your entire cost of tuition and in some cases, even books and cost of living during school! To get started, check out this guide to scholarships for online students. You can also start by checking large online databases for scholarships such as Scholarships.com, Fastweb.com or College Board.
2. Employer Funded Degree
If you are currently a full-time employee, you may want to look into asking your employer about company funding for tuition assistance. A recent report from the Society for Human Resources Management shows that 54% of employers offer some sort of tuition assistance. Check with your HR department for how to take advantage of this employee benefit. You may be eligible for partial or full tuition reimbursement. Just remember you will likely be expected to continue working full time or in some capacity while in school, so know your strengths — if you do well balancing many things at once, this could be a great opportunity for you.
The Executive MBA: The executive MBA is an option that many schools will offer to applicants who are already established in a workplace or career, and who are looking to enhance current skills and finally achieve an MBA while not taking time out of their career to do so. Executive MBA students usually work full time during the program, are financed entirely by their employers, and take slightly longer to complete due to the part-time nature of the program.
3. Tuition-Free Degree
What is a tuition-free degree? While this idea may seem unrealistic for most Americans, and for many people all over the world, it is a reality in today’s online world. There are a small number of tuition-free online MBAs as well. The benefits of getting an online MBA are the flexibility — all you need is internet access and motivation to do well and you can graduate with an MBA and be ready to join the business workforce with higher capabilities. Think about your decreased stress levels as well — if you know you can afford your education, you will be less stressed and better able to focus your mental energy and attention on your studies. Need more inspiration to study online? Here’s 10 facts about online colleges that will blow your mind.
Here’s our top picks for tuition-free online MBAs in 2020:
University of the People offers the world’s first tuition-free online MBA. A 100% online and accredited degree, UoPeople’s MBA in Business Administration can be completed in just over one-year. This non-profit university’s MBA program offers courses created by an Academic Leadership team from top worldwide universities and has coursework such as Financial Management, Marketing Management, Business Law and Strategic Decision Making and Management.
In order to apply, you need to have an undergraduate degree, two years of work experience, proven English proficiency, and references. While it is tuition-free it is not completely free, as there is a one time application fee of $60, and assessment fees of $200 per course. UoPeople’s mission is not to turn any student away due to finances, so there are many scholarships available to help cover these fees.
Smartly is not accredited but is an online education technology company with an aim to provide a completely free MBA program to qualified candidates. All courses are online and offered in a cohort format. After the degree is completed, graduates are entered into an online network of other highly qualified candidates, where potential employers can find you for top job offers. Admissions are selective based on experience and applicants are expected to have business experience and an undergraduate degree at a minimum.
NYUBT offers a tuition-free, online MBA in a flexible format. The non-profit program takes two years, but students can opt for an accelerated program and complete the degree in as little as 8 months. Admissions only requires an undergraduate degree and English language proficiency. Program participants will take courses such as marketing, leadership and entrepreneurship.
Quantic is an is a new accredited online business school with a rigorous MBA education. Their free MBA curriculum combines a self-guided approach, along with group projects and online case studies. Quantic courses are delivered through the Quantic app that can be downloaded on your mobile device or computer. The courses are interactive with a peer learning platform. That being said, they ae highly selective, so make sure that you meet their requirements!
4. Free Online Courses
Those with a high-level of self motivation and discipline can even create their own free MBAs so to speak using free online coursework. There are so many platforms offering free coursework from top universities these days, you can choose what you want to learn and learn at your own pace.
Resources for Free Online MBA Courses:
This is a free app available on iOS devices, created by Apple. The app has a large collection of free courses from top universities including Harvard, Stanford, and The University of Nottingham. On the app, you can browse for sections such as business and find courses like business foundations and marketing basics as well as advanced classes.
With EdX, you can browse courses from the best universities worldwide. You will have access to the same lectures, assignments and tests as admitted university students. There are options to take the courses for free, or you can pay a fee to get credit or a certificate at the end of your online studies. Business classes offered on the site include Digital Product Management, Supply Chain Management and Public Speaking.
Udacity’s school of business offers nanodegree programs in business for a fee, however several business courses are offered online free of charge. Most of Udacity’s free business courses are directed towards entrepreneurship and include topics such as How to Build a Startup, Product Design, and App Monetization.
What You Can Do With an Online MBA
Now that you’ve had a look at how you can achieve an MBA for free online, let’s talk about what you can do with it. MBA graduates from online programs are just as valued as graduates from in-person programs, and one can even argue that those that graduated from a free and flexible program have made the smarter MBA choice! Graduates of online MBAs can go into any field of business that a traditional student can, including entrepreneurship, marketing, human resources, and management. Check out more here on what you can do after you get your tuition-free MBA!
"With my time commitment to work, UoPeople was the perfect alternative. Classes are 100% online, so the work can be planned around your schedule"
Business Administration, USA