It can be frustrating when you think you have all the right skills and experience to apply for an online MBA, but you can’t get a student loan – or even worse, find out after applying that the program is too costly. It doesn’t have to be like this, though. Some affordable online MBA programs will not break the bank and give you a chance to help advance your career. Let’s catch up!
Tips for Choosing the Most Suitable Online MBA Program
Finding the right online MBA can be difficult. There are numerous curriculums, specializations, school types, and much more to choose from. Let’s cut through all that noise and talk about what exactly you should be looking for when choosing the right MBA program.
Start by Researching the Best Online MBA Programs and How They Will Fit Your Needs
An MBA is designed to give you the skills and knowledge needed to start a career in business. It’s a graduate-level degree, meaning it takes longer than a regular bachelor’s degree program.
You can complete an MBA in as little as two years or take up to five years, depending on how much time you have available and where you live. Online MBA programs allow students to study from anywhere globally, making them very popular among working adults.
To find an affordable online MBA program, start by researching the best online MBA and how they will fit your needs. You can do this by ensuring these websites have reviews from other students. The most affordable online MBA programs are usually found at public universities that offer tuition discounts for in-state students. If you are looking for the cheapest option, consider attending a school with a low out-of-state tuition rate.
Visit Their Site to View the Admission Requirements
Once you have your preferred MBA program, visit their site to view the admission requirements.
While there are no hard and fast rules about how to apply for an online MBA program, there are some general guidelines that will help you get accepted. You must first choose a suitable program and decide which application method works best for you.
There are three different types of applications:
- Standard application: This is the most common way to apply. It requires submitting a resume, transcript, and test scores (if required).
- Special application: This application is available at some schools that only offer online programs. It requires submitting a video interview and additional materials such as work samples or presentations.
- Portfolio application: These schools ask students to submit portfolios of their work instead of traditional coursework transcripts or grades from previous courses taken at other institutions.
Don’t Rule Out Top-Tier Schools Because of Their Cost
Don’t rule out top-tier schools when choosing your preferred MBA program because of their costs. You can find several affordable online MBA programs that offer quality education, networking opportunities, and career development services.
While the price tag on an MBA degree is often a barrier to entry for many potential students, many schools are offering tuition discounts and scholarship opportunities to make it easier for students to afford the degree. This includes part-time and full-time students alike, as well as those who already have a bachelor’s degree.
Check to See If Your College of Choice is Regionally Accredited
When looking for an online MBA program, you want to ensure that your college of choice is regionally accredited. Many online programs are not regionally accredited, which means that they may not be able to provide you with the same benefits as regionally accredited schools.
A regional accrediting agency has evaluated and approved a regionally accredited school. These agencies ensure that an institution meets certain standards for quality and accountability. They also ensure that students receive a quality education with their accreditation.
Check Out Some of the Most Affordable Online MBAs
The cost of an MBA program is often one of the major factors in choosing an MBA program. The good news for prospective students is that several affordable options are available for those who want to earn their degrees online. Here are some of our top picks:
Bentley University
Bentley offers several MBA programs, all of which can be completed online. The school’s Master of Business Administration (MBA) program costs $43,800 for full-time students and $33,400 for part-time students. This includes tuition and other costs such as books and travel expenses.
University of Arizona
The University of Arizona offers a variety of MBA options, including an online Executive MBA (EMBA) that you can complete in as little as one year at the cost of $21,500 per term (three months). The school also has two EMBA options that require more than one year to complete but offer discounted tuition rates compared to the traditional on-campus program.
Florida International University
Florida International University offers an Online Masters in Business Administration (OMBA) program that you can complete in 18 months. This program is designed around working professionals who want to advance their careers through increased knowledge and skills. The OMBA is geared toward students with a bachelor’s degree and two years of work experience under their belts. If you don’t meet these requirements, FIU also offers an Executive MBA program that requires no previous education or work experience to enter.
The OMBA through FIU lasts 30 weeks and includes coursework and experiential learning opportunities such as internships and participation in case studies and group projects. Students take classes through the Canvas learning platform, computer, or mobile device.
Georgia University
Georgia State University offers an online MBA in Global Management that you can complete in 18 months or less with no campus visits. However, if you want personal interaction with professors and other students during your studies, Georgia State also offers an online MBA with combined on-campus/online content. This program fits your schedule, so you can take classes when it’s convenient for you. The cost of this MBA is $445 per credit hour, which is significantly lower than many traditional on-campus programs.
Many factors that go into choosing one online MBA program over another are the same as those for traditional programs. You will have to consider costs, location, curriculum, and school prestige. However, you’ll also want to consider other factors that may not be necessary for a traditional MBA program, such as job placement rate, debt at graduation, and return on investment. As always, speak with someone from the admissions office if you have concerns or questions about any of these things.
