Where to Find the World’s Cheapest Online MBA?

Are you interested in diving into the business world fully equipped with the skills that will set you apart from your competitors? Earning an online MBA gives you a serious advantage and helps you stand out in the job-finding process.

What distinguishes online MBA programs from each other is their cost and quality. It’s imperative to find affordable online MBA programs for many reasons, the top being that you will be able to save money to ensure your future success. In order to do that, you need to find the cheapest online MBA.

So, what are the cheapest online MBA programs?

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What is an MBA?

Before we break down the top choices for the cheapest MBA programs, we have to know the definition of an MBA degree. For starters, MBA is short for Master of Business Administration. 

It is a sought-after graduate management degree that provides students with fundamental management skills. In one or two years, the degree program covers essential areas of business such as marketing, accounting, finance, and leadership skills. 

Students who wish to complete their degree in one year choose to attend full-time programs which typically cost less than two-year programs but have an intense workload. Part-time programs are better suited for those who wish to work while they complete their program. 

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Benefits of Earning an MBA Online

There are plenty of benefits of earning an MBA online. Some of the most outstanding upsides of doing so include:

Cost effective

Earning your MBA online is an incredible way of saving money. According to Affordable Colleges, the average cost for an online MBA is $10,010. With an on-campus MBA degree cost being from $20,000 to over $100,000, those who wish to find affordable MBA programs are best looking into gaining an online degree. In addition to the general lower cost of online MBA degrees, students save money on additional fees that come with attending on-campus classes. This could include the cost of textbooks and materials, dorming, and transportation for those who live off campus.

Flexible schedule

One significant bonus of earning your MBA online is that you will be in charge of your schedule. Rather than being restricted from taking classes at certain times, using an online program allows you to study at the most convenient times. For those starting their careers as they pursue their MBA degree, having a flexible schedule is vital.

Learn from anywhere

Probably one of the most appealing reasons people benefit from earning an online MBA degree is due to the ability to study anywhere. With no geographical limits on where you can take your classes, learning online is a fantastic opportunity for those who enjoy travel and the flexibility of living wherever they choose.

Cheapest Online MBA Programs

Now, let’s take a look at some of the cheapest MBA programs you can find!

1. The University of the People

The University of the People ranks number one as the cheapest online MBA. UoPeople is a tuition-free, accredited online university that provides an MBA that is unparalleled in cost and quality of education. The online Master of Business Administration is merely one of their top Masters programs available. The total approximate cost for an MBA at UoPeople is $3,660.

The MBA can be completed in only six terms which is fifteen months of full-time study. Students may also enroll for part-time study and take one course per term. With a diverse student body due to their accessible and flexible courses, UoPeople produces graduates with the unique advantage of earning jobs in diverse organizations.

2. University of Texas of the Permian Basin College of Business and Engineering 

Accredited by the Association to Advance Collegiate Schools of Business (AACSB), the online MBA program at the University of Texas of the Permian Basin (UTPB) is highly ranked as a top degree program. Requiring the completion of 30-36 credits, UTPB also requires its students to maintain a GPA of at least 3.25. With its total tuition only costing $10,679.70 – $12,815.64, UTPB stands out for providing a cheap online MBA program that can also be completed in as little as one year.

3. Fort Hays State University

Fort Hays State University catches the eye with its low cost of only $350 per credit and the 33 credits needed to graduate its online MBA program. This would leave the average cost for out-of-state students at a low $11,550. Accepting all undergraduate degrees, the program is further accessible by teaching its core curriculum in 8-week sessions which provide students with flexibility and the ability to complete the program in a short amount of time.

4. William Woods University

One of the most affordable online MBA programs is offered by William Woods University, a private institution based in Fulton, Missouri. Charging only $366 per credit, this program is much cheaper than the average online MBA. A benefit of attending William Woods University is that most of the program material is recorded video which allows students to study at any time, anywhere.

5. Lamar University

The online MBA offered at Lamar University is only slightly more expensive than William Woods University, charging $408 per credit. This is still much cheaper than the average MBA cost of $922 per credit. Located in Beaumont Texas, Lamar University’s College of Business is accredited by the AACSB and the HLC. The 36-credit-hour MBA program is divided into seven core courses and four or six specialization courses. As all the lectures are pre recorded, besides turning in projects or completing final exams, the students can work at their own pace.

6. Cameron University School of Graduate and Professional Studies 

Requiring 33-45 credits with the out-of-state cost of $425 per credit, Cameron University School of Graduate and Professional Studies is a great choice for earning an online MBA degree. With their competitive tuition rates and top faculty, Cameron’s MBA program is popular and recognized as one of the most affordable online MBA programs.

Closing Thoughts

Now that you have a basic understanding of an MBA degree and how much the average program costs, you’re off to a great start. If you are committed to building your knowledge of business and boosting your career, you should take the time to find the best MBA program for you. Start with identifying the cheapest online MBA programs and discovering what program format matches most with your current situation and goals.

To learn more about the University of the People’s MBA program, click here.