Finding The Best Affordable Full-Time MBA Programs
Earning an MBA is a great way to ensure some level of financial security in the future. However, if earning the degree leaves you with mountains of debt, that security can start to seem like a pipe dream. Fortunately, there are business schools that provide some of the best affordable full-time MBA programs in the country.
Analyzing the full-time MBA rankings from U.S. News & World Report, we outline ten of the best MBA programs throughout the country that don’t come with the hefty price tag. Check out the ten programs that cost less than $25,000 per semester below.
The Best Affordable Full-Time MBA Programs
The D’Amore-McKim School of Business at Northeastern University charges $1,600 per credit for their 55-credit program. The cost comes to about $22,000 per semester, which is not bad considering the average starting salary for recent grads is $88,000. The Boston school also offers its students a corporate residency while pursuing their degree, which helps alleviate financial pressure. The average salary for the Corporate Residencies was a respectable $32.52 per hour in 2018. Moreover, 91 percent of MBAs receive job offers within three months of graduation. Students with an interest in international business can participate in the Global Consulting Project or International Field Study.
At $11,855 per semester, going to La Salle University allows students to earn their MBAs without breaking the bank. The length of the program varies depending on a student’s previous credits and scheduling choices. Students who majored or minored in business can complete their degree in 12 months, whereas students without a business major or minor may take up to 24 months. Options for specialization include: accounting, business systems and analytics, finance, general business administration, management, and marketing.
Despite the reasonable price tag, La Salle grads have gone on to work high-level positions at well-known companies like Deloitte LLP and Morgan Chase.
The University of Colorado, Boulder Leeds School of Business ranks 65th overall among the best full-time MBA programs on U.S. News, and has a welcoming price tag to back it up. For in-state residents, the program is only $900 per credit ($1,200 for out-of-state residents). Over the course of 55 credits, this comes to just $49,500 for in-state residents over the entire two years of the program: $24,750 per year.
Leeds emphasizes entrepreneurship and a global outlook. The degree electives encourage students to concentrate on finance, marketing, management, or systems-operations. Students can complement this “functional focus” with a more tailored specialization like entrepreneurship, real estate, or sustainability. MBAs are not limited to MBA courses, as the program allows them to take up to four electives in other schools at CU Boulder. Additionally, students earning their MBA in Sustainability have the opportunity to take courses in University of Colorado’s Environmental Studies, Engineering, and Law Schools.
Upstate New Yorkers will be pleased to learn that the Binghamton University School of Management costs about $17,205 (with fees) per year for in-state residents. Non-residents pay about $26,745 (with fees) per year. Binghamton also does not require that entering MBAs have a business background, though they recommend a rudimentary knowledge of calculus, as well as strong skills in English and IT. The standard four-semester MBA is open to students from all undergrad majors. The school is currently 76th on the U.S. News list. Binghamton, NY may also be a strategic career-launch location, as the city made the Forbes list of “The Best Small Places For Business And Careers.”
Internships and opportunities to hobnob abound in the U.S. capital, making DC an excellent place to earn an MBA. However, with the cost of living on the rise, finding a relatively affordable school is key to maximizing return on investment. The cost of pursuing an MBA at the Kogod School of Business at American University comes out to about $20,923 per semester, for a total cost of $83,692. And, with a mean graduate salary of $84,725, it should not take grads long to see a respectable ROI. Kogod offers features like weekly Business Leadership Luncheons, wherein local business pioneers share their experiences and insights with students. Speakers have included senior executives from PayPal, IBM, and Marriott International. Graduates of the program have gone on to work at companies like Amazon, Deloitte, and Ford Motor Company.
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MBAs at the Argryros School of Business—the 79th overall school on the U.S. News list—pay $1,655 per credit. Which, for the 50-credit program, averages to about $20,687 per semester. The Orange County, CA school offers tracks in accounting, business analytics, entertainment and media management, entrepreneurship, finance, global business, marketing, and strategic management. The school also offers a variety of dual degrees, including an MBA/MFA in Film & TV Producing.
The University of San Diego School of Business Administration MBA currently costs $1,420 per credit. With a 56-credit requirement for the two-year program, the cost without fees comes to around $19,880 per semester. It is tied with the aforementioned Argyros School of Business at 79th overall on the U.S. News list of the country’s best business schools.
USD’s curriculum is based on four pillars: Leadership development; business function core; corporate social responsibility, sustainability, and ethics; integrative problem solving. For students with a global mindset, the International MBA has the same cost per credit, but requires only 44 credits.
In addition to being affordable, the Lerner College of Business is located in Delaware, where tax-free shopping makes the cost of living far less daunting. The Lerner MBA costs just $825 per credit for Delaware residents, and $1,000 per credit for those from out of state. This puts total cost per semester in a range from $9,075-$11,000.
Lerner MBAs can choose from a variety of concentrations, including (but not limited to): business analytics, international business, and sport management. Students can pursue a full-time, part-time, online, or hybrid MBA. Pursuing a hybrid of online and on-campus courses may also be fiscally helpful, since online credits tend to be more cost-effective.
The CSU College of Business offers several options for students pursuing an MBA. The school has a nationally renowned online MBA program, and also offers a Global Social and Sustainable Enterprise MBA, an Executive MBA, and an Evening MBA.
According to U.S. News, tuition for the full-time program is $757 per credit for in-state students and $1,557 per credit for out-of-state students. Given the huge cost cut for Colorado natives, CSU may be a prudent choice for residents of the state.
Students who are NYC-bound might consider applying to the Pace University Lubin School of Business. The total cost of an MBA education at Lubin education can vary, as different tracks require a different number of credits. However, at $1,267 per credit, the cost can be very manageable, particularly considering its prime spot in downtown Manhattan and all of the internship and job opportunities this location presents. Particularly for those with a bent toward accounting or finance, Lubin may be the perfect launching pad for a career in the big city. A substantial 92 percent of recent grads found jobs upon graduating.
The Five Most Valuable Online MBAs
Choosing an online MBA program isn’t easy. Not only do you need to look at rankings, but you also have to look at what the program offers and how affordable it is. After all, the goal of an online MBA is a great return on investment. So, how do you find the most valuable Online MBA programs?
We’ve searched through the U.S. News and World Report on the “Best Online MBA Programs” to find which ones can give you the best experience at the best cost.
The programs on this list rank in the top 25 “Best Online MBA Programs,” and cost under $1,400 per credit.
The Five Most Valuable Online MBA Programs
Indiana University
Tied for first as the best online MBA program in the country, Indiana University’s Kelley School of Business is also affordable.
The Kelley Direct Online program offers the ultimate in flexibility. Students can take between two to four years to graduate and tailor their classwork to their goals. Online MBA students will cover such topics as business law and ethics, economics, marketing, finance, operations, information technology, and project management. They’ll also have the opportunity to study abroad in one of Kelley’s global hubs located in Botswana, Brazil, China, India, Myanmar, South Africa, and Cuba.
- Cost: $1,330 Per Credit (out-of-state)
- Ranking: #2
Arizona State University
Ranked as the 5th best online MBA program in the U.S., Arizona State University’s W.P Carey School of Business won’t break the bank either.
The Online MBA at ASU is designed to work with students no matter where they live. The program is incredibly flexible with just five weeks per class and 17 total classes. Interested students can expect to take classes covering a range of topics including strategic management and global thinking. Classes start in either January or August with students taking the same curriculum taught by the same faculty as the full-time and part-time programs.
- Cost: $1,216 Per Credit (out-of-state)
- Ranking: #5
University of Florida
Ranked at 6th overall, the University of Florida Hough Graduate School of Business also offers an affordable online MBA program.
The UF Online MBA offers the ideal balance of work, life, and school commitments. Students can graduate in just 24 months without visiting campus, with courses taught by the full-time MBA faculty. Students cover the same topics as their full-time brethren with courses on financial accounting, economics, and more. There is also an optional Global Immersion Experience opportunity.
- Cost: $1,255 Per Credit (out-of-state)
- Ranking: #6
Lehigh University
Ranked at 19th on the U.S. News and World Report list, the online MBA at the Lehigh University’s College of Business and Economics is incredibly affordable.
The Online Flex MBA at Lehigh University is AACSB accredited and places high emphasis on maintaining excellence. Students can complete the program in as little as 16 months while taking classes on a variety of topics including managing financial and physical resources, corporate entrepreneurship, international business, and marketing. Students can also choose to pursue a concentration in one of six fields including: corporate entrepreneurship, finance, international business, marketing, project management, and supply chain management.
- Cost: $1,075 Per Credit (out-of-state)
- Ranking: #19
University of Delaware
The University of Delaware’s Lerner College offers the most affordable online MBA on our list while still ranking in the top 25.
Last but certainly not least, the Lerner Online MBA is designed to provide students with the decision-making skills and analytical tools to succeed. The program is entirely online with a customizable curriculum that can be completed in as little as 16 months. In addition, students can choose between five concentrations including business analytics, finance, healthcare, strategic leadership, and international business. Each course is seven weeks long and taught by a Ph.D.-qualified faculty member.
- Cost: $812 Per Credit (out-of-state)
- Ranking: #22
Runner’s Up
- University of Texas at Dallas: The Naveen Jindal School of Management’s Online MBA program is ranked #6 in the nation and costs $1,402 per credit (out-of-state).
- Hofstra University: The Zarb School of Business Online MBA ranks 36th on the list and costs just $1,596 per credit (out-of-state).
- Syracuse University: Ranked 42nd, the Syracuse University Online MBA costs just $1,500 per credit.
July MBA Application Deadlines Are Coming Up
Yes, it’s finally summertime and the livin’ is easy, but that doesn’t mean you can sleep on these upcoming MBA application deadlines. Take a look at which programs have deadlines coming up, and get these applications in now so you can hurry back to the beach and work on that tan! Continue reading…
Drexel MBA Team Earns Second Place, and More – Philly News
Let’s review some of the biggest news coming out of Philadelphia business schools this week.
MBA Students Weather the Storm and Win Second Place — LeBow News
Four first-year Drexel University LeBow College of Business MBA students braved a winter storm in order to compete in the inaugural University at Buffalo MBA Case Competition in Buffalo, New York. The Drexel team ended in second place, winning a $3,000 prize. The competition was hosted by the University at Buffalo School of Management and sponsored by Dun & Bradstreet.
“It was an all-star group, and it was a huge learning experience for us,” said Cory Terzis, who—along with Joseph Dipre, Dhruv Gandhi and Zach Hauck—made up Drexel’s team.
The Drexel LeBow MBA team / photo via lebow.drexel.edu
You can read more about the team’s experience here.
In Memoriam: Erivan K. Haub — HSB News
Erivan K. Haub, the namesake of the Haub School of Business at St. Joseph’s University, passed away on Tuesday, March 6, in Pinedale, Wyoming. St. Joesph’s business school was named after Haub in 1997 following the Haub family’s support for business education at SJU over a three decade period of time.
“There is no doubt that the international business world lost an extraordinarily successful and influential entrepreneur with the passing of Erivan Haub,” said University President Mark C. Reed, Ed.D. “More importantly, Saint Joseph’s lost a partner who will forever be remembered for his generosity and friendship.”
You can learn more about the life and accomplishments of Haub here.
Postponed: Women’s Leadership Initiative Launch — UD Daily
In a previous edition of Philly News, we reported that Lerner College at the University of Delaware was hosting the Women’s Leadership Initiative Launch at the Roselle Center for the Arts on National Women’s Day. However, bad winter weather prompted organizers to postpone the event. According to the school, the event will be rescheduled, likely in the fall of 2018.
According to University of Delaware, the Women’s Leadership Initiative, “… is the preeminent driver of learning to propel transformational women leaders and advance gender equity in the workplace.”
The event was set to feature alumni speakers like Terri Kelly, president and CEO of W.L. Gore and Associates, Inc., Mary Ellen Payne, former VP of sales and marketing at Verizon Communications, and several others. There is no word on who will be able to attend the make-up event.
Read more about the Women’s Leadership Initiative Launch here.
Philly News: UD Promotes Gender Equity and More
Let’s visit some of the biggest news coming out of Philadelphia business schools this week.
LeBow Students Help Dow Chemical Use Customer Feedback—Technical.ly Philly
Teams of students and faculty at Drexel University’s LeBow College of Business are on a mission to help companies utilize massive amounts of untapped data. Recently, LeBow students have been helping university partner Dow Chemical in a quest to glean insight into consumers’ responses to products.
According to the project’s supervisor, Professor of MiS Murugan Anandarajan, “Our students not only extract, clean and explore data—they also derive valuable insights that can be used to make decisions. Students transform data points to convey potential strategies that companies should implement.”
Using online reviews of Dow products, students created an interactive dashboard to map out patterns in reviews. With an accessible map of this data, the company can easily use trends in consumer feedback to improve its products and marketing.
Read more about LeBow’s work with Dow Chemical here.
Lerner College to Host Women’s Leadership Initiative Launch—Delaware Business Now
The World Economic Forum predicts that it will take 158 years to reach true gender equality in North America alone. Luckily, schools like University of Delaware’s Alfred Lerner College of Business and Economics are committed to promoting gender equity now. In fact, this International Women’s Day, Lerner is hosting the Women’s Leadership Initiative Launch at the Roselle Center for the Arts.
According to UD’s website, the Women’s Leadership Initiative (WLI), “… is the preeminent driver of learning to propel transformational women leaders and advance gender equity in the workplace.”
The free event at the Roselle Center will feature prominent alumni speakers like Terri Kelly, president and CEO of W.L. Gore and Associates, Inc., Mary Ellen Payne, former VP of sales and marketing at Verizon Communications, and several others.
Read more about the Women’s Leadership Initiative Launch here.
Wharton Professor Claims Brainstorming Meetings Stifle Creativity—CNBC
In a recent interview with Amazon, Adam Grant, famed author and professor at The Wharton School at University of Pennsylvania, detailed the flaws with using brainstorming meetings to find creative solutions. According to Grant, bringing colleagues together to think out loud is a surefire way to limit the scope of their ideas. Shyer or less assertive members of the team may go unheard, fear of embarrassment may make others “play it safe” by expressing only their most conventional ideas, or the members of the group may fall into convergent thinking, wherein the majority of people support one idea and less popular suggestions fizzle out.
Grant promotes having everyone write out their ideas before sharing them. In fact, Grant says that the way to reach maximum creativity is to write out 200 ideas. Grant, organizational psychologist, has authored several books and was recently named to Fortune’s 40 Under 40 list.
Read more about Adam Grants views of creativity in business here, and check out the Amazon video below.
Delaware Professor Warns Consumers About Store Promotional Credit
Despite the proliferation and ease-of-access eCommerce presents, many consumers still opt to wait in lines for hours, navigate packed parking lots, and push through herds of consumers to get Black Friday discounts. Thanks to research from Adnong Cheng, Assistant Professor of Marketing at the University of Delaware’s Alfred Lerner College of Business and Economics, bargain-hunters may be able to change their thinking and save more money—or rather, save any money at all.
In a paper in the Journal of Marketing Research titled, “Double Mental Discounting: When a Single Price Promotion Feels Twice as Nice,” Cheng warned consumers of the flawed thinking that can result from store credit.
“Let’s say you went to Ann Taylor Loft, you bought a sweater for $50 and received $10 of Loft credit to spend in the future. This purchase feels like it’s only $40 instead of $50. And then later, you spend the $10 on another shirt and feel like the shirt is free, because you’ve only been spending that merchandise credit instead of more money out of your pocket,” Cheng explains.
The consumer’s thinking in this situation is flawed, as they are factoring the single store credit into the cost of two separate items. Additionally, many people do not fully utilize their store credit, but operate under the mind set that they will.
In one of the studies, Cheng and co-author Cynthia Cryder, an Assistant Professor at the Washington University in St. Louis Olin Business School, cited an ice cream store gave certain customers a $3 discount, and other’s a $3 promotional credit. Consumers with the promotional credit bought more ice cream than those who received a discount, as they felt the night to come back to the store to utilize their credit. This is a phenomenon Cheng and Cryder referred to as “double mental discounting.” Consumers fallaciously applied their discount to two purchases.
Cheng advised consumers: “When you receive promotional credit, don’t think of the initial purchase as cheaper. Only take the money gained into account once you’re actually able to use the promotional credit.”
