Traditional MBA programs can be very expensive. Because of this, many students choose to enroll in a reasonably priced online MBA program. If you’re looking to acquire an MBA, we’ve gathered some of the most affordable online MBA schools out there.
You can still acquire your MBA without taking the standardized test because some of the universities on this list offer online MBA programs without a GMAT [Graduate Management Admission Test] requirement.
An MBA is what?
A Master’s Degree in Business administration is known as an MBA. This postgraduate degree enables professionals to succeed in their current fields of work, change careers, enhance their income, or qualify for promotions.
MBA programs can also impart the information and abilities needed to launch one’s own company or advance to executive roles in an already-existing company.
The topics included in the MBA curriculum vary from management and communication to accounting and statistics.
What Is the Price of an MBA?
The cost of an MBA’s tuition varies widely and is influenced by numerous factors. The duration of the program, the school, the student’s residency status, and enrollment status are just a few of the influencing elements that have an impact on the cost of an MBA. Having said that, MBA Today reported that the average cost of an MBA is between $55,727 and $161,810.
Many people are searching for the cheapest online MBA without a GMAT [Graduate Management Admission Test] requirement due to the exorbitant expense of an MBA.
Benefits of Online Education
Let’s think about the advantages of completing your MBA online before diving into the most affordable online MBA programs.
The following are some of the most noteworthy benefits of going online:
Of course, the reason you’re here is to choose a reasonably priced online MBA program. Online choices are obviously more affordable because they require less overhead and you may attend the classes from anywhere.
You would be required to be in the classroom at the appointed hour if you were taking an MBA in person traditionally. However, if the lectures are recorded, you might be able to join on and learn anytime you like with an online MBA.
low entrance threshold
A comprehensive number of prerequisites are typically listed for admission to MBA programs, including job experience, a specific GMAT score, letters of recommendation, and a minimum GPA. Since they frequently have less stringent admissions requirements, online programs make MBAs more accessible (as is the case at the University of the People). The level of education is maintained despite the lower entry barrier.
Cheapest MBA programs online
Now that you are aware of the benefits of completing your MBA online, it is time to review some of the most affordable MBA programs offered entirely online.
1. College of the People
Tuition-free online MBA programs are offered by the entirely online, accredited University of the People. This implies that there are no tuition fees. However, there are costs involved with obtaining the degree (that may be covered with financial aid or scholarships). The University of the People is the most expensive online MBA program without a GMAT [Graduate Management Admission Test] requirement, with a projected cost of $2,940.
2. Davis, University OF California
A virtual campus is made available by the University of California, Davis for its online, part-time MBA programs. Live online classes with face-to-face interactions are offered through the program. Students have the option to finish coursework on their own schedule even while the classes are being held in real time. The program also offers residentials, which are extended in-person learning opportunities, in Davis, Silicon Valley, and Napa Valley. Along with an application, an official transcript, letters of recommendation, an essay, and a personal statement, a GMAT score is necessary. Here are the program’s anticipated costs.
3. College of Saint Mary
Another institution that doesn’t require a GMAT score is the University of Saint Mary, which offers an online MBA that may be finished in as little as one year. Finance, health care management, general management, human resources management, marketing and advertising, and leadership and organizational health are among the six concentration options available to students. The cost of an MBA credit hour is $595.
4. University of Florida International
A GMAT is not necessary for applicants to Florida International University’s (FIU) online MBA program if they have at least four years of professional job experience. Students can choose how to complete the degree because there are three pacing options and eight emphasis areas. The cost of tuition is about $11,097.
5. University of the Grand Canyon
The online MBA program of Grand Canyon University is based in Phoenix, Arizona. The authorized curriculum allows students to get their degree in as few as 34 credits. Another MBA that does not require the GMAT is this one, which also requires a 2.8 GPA and an undergraduate degree from an accredited institution. In the absence of those conditions, a GMAT may be acceptable. The cost of tuition is just about $11,000.
6. Columbia University
For working adults who wish to advance their professions and improve their skill sets, Columbia College offers evening and online courses. The 36-credit program offers students the chance to study managerial analytics, managerial communication, information systems for management, marketing strategy, and the legal and ethical environment for business. Cost of tuition is about $13,500.
7. Northwestern University of Ohio
The University of Northwestern Ohio is another affordable online MBA program without a GMAT requirement, but it does require a bachelor’s degree from an authorized institution. Students with a minimum GPA of 3.0 are assured admission, while those with a GPA between 2.5 and 2.99 are given conditional admission. Instead of a GPA, a GMAT score may be provided for students with GPAs below 2.5. The approximate cost of the program is $12,288.
Online MBAs are a Cost-Effective Alternative
There are numerous possibilities while searching for the least expensive online MBA program. You can get a glimpse and knowledge of things to look for from the list above. As you can see, in an effort to make the master’s degree more accessible, there are also lots of online MBA schools that don’t require a GMAT.
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