AdminPursuing an online MBA degree is a worthy aspiration for any individual who wants to enhance his or her profession, drive their earning capacity to the highest level possible, and gain valuable skills to drive future leadership. However, the MBA program can be out of reach if you have work, family, and a high cost of living.
In the past, the majority of students have employed traditional on-campus programs that entailed high tuition fees, travel, and relocation. However, nowadays, accredited online MBA degrees offer a convenient, affordable alternative, enabling students to obtain their business degree from any location in the world without paying a massive cost.
The Growing Popularity of Online MBAs
Recently, Sarah, a marketing manager in Nigeria, was at a professional crossroads. She wanted to transition into a senior leadership position but knew an MBA was essential. But Sarah couldn’t afford to spend tens of thousands of dollars on a traditional MBA program. She worked full-time and with family obligations, she couldn’t take time off work and go to school on campus.
It is there that she came to know of the growing popularity of accredited online MBA degrees, which offered good education at a fraction of the cost of traditional degrees. Sarah enrolled in one of them, and in a couple of years, she had completed her degree without giving up her job or financial security.
This is not a lone incident. More and more prospective students are seeking out accredited online MBA degrees as a way of merging academic goals with financial limitations. The best part? These degrees don’t compromise on quality. They’re designed to deliver quality business education with flexibility and affordability. If you wish to earn an online MBA without draining your bank savings, read on to learn the top 10 accredited programs that provide quality education and cost-effective options.
Why Pursue an Accredited Online MBA Program?
Prior to getting into the best programs, let’s cover why enrolling in an accredited online MBA is crucial. Accreditation guarantees that the school maintains high academic quality and that your degree will be accepted by employers, other universities, and business professionals. While lower tuition costs might be realized in non-accredited programs, they don’t have the same level of prestige, making it more difficult for graduates to gain well-paying positions or climb career ladders.
Also, the majority of accredited online MBA degrees are just as demanding as their campus counterparts. They share the same curriculum of study, teaching by qualified professors, and provide the same level of networking access. With accreditation and the availability provided through online programs, they are a wonderful choice for working professionals seeking to further their education without interrupting their professional or personal lives.
Top 10 Affordability Accredited Online MBA Programs
Below are the top 10 accredited online MBA programs that offer affordability, flexibility, and quality. Whether it’s finance, marketing, or general management, these programs fit different career aspirations without breaking your bank.
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University of North Carolina at Chapel Hill (Kenan-Flagler Business School)
The University of North Carolina’s online MBA program is among the most elite and cost-effective programs out there. It is renowned for its emphasis on leadership and strategy and has both full-time and part-time options, making it perfect for working professionals.
Cost: $125,589 for the whole program
Duration: 18-36 months
The Kelley School of Business at Indiana University offers a lower cost online program while still providing education that is highly regarded. Scholarship and assistantship options are also available to enable students to offset the expense.
- AACSB fully accredited
- Flexible online program with optional on-campus residencies
- Large alumni base for career development
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Indiana University (Kelley School of Business)
Indiana University Kelley School of Business is well-known for its distinguished faculty and strong business course of study. Its online MBA program focuses on main subjects such as leadership, operations, and entrepreneurship.
Cost: $74,000 total program
Duration: 2-3 years
Kelley offers a value-for-money solution that’s rigorous yet flexible. The course is designed with working professionals in mind, offering them flexibility since they can keep working and use the flexible hours to attend school.
- Rank 10 in U.S. online MBA programs
- AACSB-accredited
- Career services and networking opportunities
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University of Florida (Warrington College of Business)
The University of Florida’s online MBA program is designed to equip students with an international business competitive edge.
Cost: $30,000 total program
Duration: 16-24 months
As one of the lowest-priced top-ranked MBA programs in the country, the University of Florida guarantees a strong return on investment.
- AACSB-accredited
- Highly flexible with two program formats: one-year and two-year programs
- Connection to a vast alumni network of UF graduates
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University of Alabama (Culverhouse College of Business)
The University of Alabama online MBA program is designed to provide comprehensive business education for leadership in diverse industries. The online program offers specializations in areas such as finance, management, and supply chain management.
Cost: $30,500 for the entire program
Duration: 2 years
School is highly affordable compared to the majority of other schools, with excellent education and a lesser tuition.
- Flexible online courses
- Choices to work for internships for practical practice
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Arizona State University (W.P. Carey School of Business)
Arizona State University offers an online MBA program that is one of the best in the country in terms of quality and value. It boasts a curriculum that is centered on innovation and leadership, ideal for individuals who want to make their mark in their respective fields.
Cost: $58,000 for the entire program
Duration: 21-28 months
ASU boasts one of the best values among online MBA programs, with the choice to tailor your degree to suit your professional goals.
- AACSB-accredited
- Full-time, part-time, and accelerated options
- Flexible learning via live online courses
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University of Texas at Dallas (Jindal School of Management)
University of Texas at Dallas offers an online MBA program that stands out for its value and emphasis on leadership, strategy, and analytics.
Cost: $53,000 for the entire program
Duration: 21-28 months
UT Dallas offers affordable fees with plenty of focus on providing value to students seeking leadership skills without an exorbitant price tag.
- AACSB-accredited
- Specializations in finance, supply chain, and marketing
- Extensive career services
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University of Illinois at Urbana-Champaign (Gies College of Business)
The University of Illinois offers an innovative and extremely cost-effective online MBA program. The program features leading-edge tools and techniques, preparing students to direct data-driven business environments.
Cost: $22,000 total program
Duration: 2-3 years
This program is among the cheapest best-in-class online MBA programs available, offering a comprehensive education at a fraction of what many competitors charge.
- AACSB-accredited
- Emphasizes data analytics and decision-making
- High worldwide network
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University of Nebraska-Lincoln (College of Business)
The University of Nebraska-Lincoln offers an online MBA that combines the rigor of a campus-based MBA program and the convenience of distance education. It suits students who wish to enjoy quality education at minimal expense in tuition fees.
Cost: $25,000 for the entire program
Duration: 2 years
Why It’s Affordable: With one of the lowest tuition rates on this list, the University of Nebraska-Lincoln provides immense value to students.
- AACSB-accredited
- Personalized support from faculty and career coaches
- Ability to earn a specialized concentration
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University of Wisconsin-Madison (Wisconsin School of Business)
The University of Wisconsin-Madison offers an online MBA with leadership, entrepreneurship, and business ethics concentrations. It’s a great choice for students looking for general education combined with serious strategic decision-making emphasis.
Price: $39,000 program
Length: 24-36 months
Wisconsin offers competitive pricing, along with access to solid resources and faculty expertise.
- AACSB-accredited
- Offers various concentrations, including marketing, finance, and human resources
- Various networking opportunities
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University of Massachusetts Amherst (Isenberg School of Management)
UMass Amherst boasts an online MBA program with a good reputation for offering a good business education at an affordable price. It’s famous for having high academic standards and flexible course delivery modes.
Cost: $35,000 for the entire program
Duration: 2 years
UMass Amherst provides great value for money with a program that combines career growth and personal development.
- AACSB-accredited
- Concentrations in accounting, finance, and marketing
- Fully online program with optional on-campus residency
Finding the Right Affordable MBA for You
Selecting an affordable and accredited online MBA program doesn’t require you to compromise on quality. The above 10 programs are balanced, versatile, and affordable and offer the best value for any individual who would like to pursue an MBA without spending a fortune. In terms of cost, flexibility, and accreditation, you will be able to find a very appropriate program to suit your financial situation and your career goal. Start working towards a profitable business career today by learning more about these highly rated online MBA programs.
Frequently Asked Questions (FAQs)
How many years does it take to finish an online MBA?
It typically takes 18 months to 3 years to finish an online MBA, depending on whether you are taking a full-time or part-time program.
Are online MBA programs as highly regarded as on-campus MBA programs?
Yes, accredited online MBA degrees are highly respected by employers. As long as the program is AACSB-accredited, it will provide the same level of quality education as a traditional on-campus program.
Can I work while pursuing an online MBA?
Yes, flexibility is one of the largest advantages of online MBA degrees. Most programs allow you to work and study at the same time, so they’re ideal for working professionals.
How much does an online MBA cost?
The cost of an online MBA can range from $20,000 to over $100,000 based on the university. However, there are some cheaper ones as well, as shown in the above list.
Can online MBA programs be awarded scholarships?
The majority of online MBA degrees offer scholarships or financial aid packages to help defray the cost of tuition. Be sure to ask the program’s admissions office what is offered.
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