Most Affordable Online MBA Programs

If you’re looking to begin a career in business or advance in your career then getting an MBA is the next step. Earning an MBA not only makes you a more hirable candidate but will teach you crucial and diverse skills to aid in your achievement. A career in business is ever-changing, you’ll deal with different tasks and problems every day. This kind of fast-paced environment is great for people who have quick wits, and creativity.

Having an MBA degree is nothing without earning it from the right school. We’ve taken the time to rank the most affordable online colleges for an MBA degree. All of these universities promise to value your time and teach you the essential components of the business world. You’ll have the opportunity to work with other individuals as a team, pitch ideas, and practice marketing. You’ll feel confident graduating from one of these colleges and feel proud of all that you accomplished.

Methodology

All schools considered for these rankings

  • Are regionally or nationally accredited
  • Offer at least one fully online MBA degree (with no more than two weeks of required in-person work)
  • Were collected from official accrediting agency websites.

Schools are ranked solely by the average net price as released in the most recent IPEDs database collected in 2020

2021 Most Affordable Online Colleges for an MBA Degree

#1Grantham University$8,684
#2The University of Texas of the Permian Basin$9,632
#3Columbia Southern University$9,910
#4Eastern New Mexico University-Main Campus$10,325
#5Midwestern State University$10,764
#6Clayton State University$11,160
#7Albany State University$13,066
#8Southeast Missouri State University$13,113
#9West Texas A & M University$13,185
#10Georgia Southwestern State University$13,206
#11Wayne State College$13,454
#12Valdosta State University$14,278
#13Alcorn State University$14,352
#14Aspen University$14,492
#15University of Central Arkansas$14,723
#16Wichita State University$14,876
#17Western Illinois University$15,970
#18Missouri State University$16,526
#19Abraham Lincoln University$18,454
#20William Woods University$21,098
#21Union College – KY$21,586
#22University of the Potomac$27,063

10 Best Affordable Colleges for an Online MBA Degree

1. Grantham University

Average Net Price: $8,684

School Type: For-Profit
School Accreditation: DEAC
Acceptance Rate: 1,352

Grantham University was founded upon the values of building an innovative and diverse community. These values have brought over 16,000 students to their university where they’ve found a home in their education. Grantham University has the advantage of being an all-online 4-year college. Choosing to attend an online university gives way to working full-time, having a family, and tending to all other responsibilities.

Grantham University offers three different online MBA programs that individuals can achieve. These include Business Administration in Information Management, Business Administration in Project Management, and a General Business Administration program. All three of these programs are designed to bring out the leader in each individual. You’ll become an expert in economics, ethics, and strategic marketing. These programs will set you on track to advance in your career.

2. The University of Texas of the Permian Basin

Average Net Price: $9,632

School Type: Non-Profit
School Accreditation: SACS COC
Acceptance Rate: 1,090

Established in 1969, The University of Texas of the Permian Basin has made it their mission to create a university where students feel they belong.  The institute brings a diverse community that allows for student-centered learning and research for a more engaging learning experience for all students. Attending UTPB will open your mind to challenging the boundaries of what you thought you knew.

The University of Texas of the Permian Basin has an exceptional online MBA program that advances each student into leadership roles. What makes this MBA program so unique from other universities is the strategic business techniques taught to graduates that employers value. You’ll become well-rounded as you take classes such as financial management, the legal environment of business, and international business. Graduating with an MBA from UTPB will aid in your success in leading any corporation or business.

3. Columbia Southern University

Average Net Price: $9,910

School Type: For-Profit
School Accreditation: DEAC
Acceptance Rate: 5,859

Located in warm Orange Beach, Alabama, Columbia Southern University is home to more than 31,000 students. CSU is dedicated to building life-long relationships, these relationships are founded on providing an extraordinary student atmosphere and a diverse learning experience. Columbia Southern University is an online-based university impacting lives by helping individuals reach a higher potential.

Columbia Southern University understands the business world is ever-evolving and prepares its students for these changing climates. You’ll be educated on different behavior techniques to be successful and contribute to research that will gain you the necessary skills needed for a business career. CSU gives students an opportunity to specialize their MBA program to certain aspects of business they’re interested in pursuing. These concentrations consist of finance, sports management, information technology, and so much more. You’ll find exactly what you need in an MBA degree at Columbia Southern University.

4. Eastern New Mexico University-Main Campus

Average Net Price: $10,325

School Type: Non-Profit
School Accreditation: HLC
Acceptance Rate: 1,305

Eastern New Mexico University was built on the idea of creating a community of active learners and rich educators. Today they uphold that standard with a current student population of 5,268. ENMU has an average tuition of $10,325 making it more expensive but it’s a guarantee that graduating from ENMU will leave you with the knowledge and achievement you desire. This has been proven time again as they keep a student satisfaction rate of 97%.

ENMU is ranked number 22 on the nation’s fastest-growing master’s programs, with one of their most popular programs being their MBA degree. In this degree program, you’ll be exceptionally trained on all essential aspects of business, and see growth in your managerial skills. ENMU designed its MBA program to help students either step up in their career or for students gain a more advanced job opportunity. This MBA program is accredited by the Accreditation Council for Business Schools and Programs.

5. Midwestern State University

Average Net Price: $10,764

School Type: Non-Profit
School Accreditation: SACS COC
Total Graduate Enrollment: 730

Midwestern State University was founded in 1922 in Wichita Falls, Texas. Today the university is home to more than 11,000 students with 719 of them being graduate students. The values they instill into their students consist of social justice, critical thinking, and emotional/physical well-being. These important attributes are what help students reach their highest potential at Midwestern State University.

Business is a rapidly changing field that requires somebody who can think fast on their feet. The MBA program at Midwestern State University was designed to bring out the best skills needed for individuals to advance and make more money in their careers. The College of Business at Midwestern State University is an accredited member of The Association to Advance Collegiate Schools of Business. This accreditation assists in students graduating with highly employable skills more desired by employers than graduates at non-accredited schools.

6. Clayton State University

Average Net Price: $11,160

School Type: Non-Profit
School Accreditation: SACS COC
Total Graduate Enrollment: 441

Clayton State University was established in 1969 with a mission to provide a rich education to assist in individuals reaching their highest potential. Students at CSU value the exceptional faculty, smaller class sizes, and positive campus life.  The university makes it a priority to give individualized time to each student. You’ll feel confident in what you’re learning, and be able to call Clayton State University home.

The university knows that while achieving a master’s degree your time is valuable, with this thought in mind they’ve created an MBA program that works around your schedule. Students can expect to graduate with an MBA in as little as 12 months, sometimes a little longer depending on what concentrations, students earn. In this degree, you’ll learn real word experience and have opportunities to work as a team.

7. Albany State University

Average Net Price: $13,066

School Type: Non-Profit
School Accreditation: SACS COC
Total Graduate Enrollment: 370

Located in Albany, Georgia, Albany State University was founded in 1903 to serve its students and community. The university makes it a goal to educate diverse students who will elevate their communities.  Albany State University has the vision to deliver a creative and enriched education that will enhance research opportunities for its students.

The MBA degree at Albany State University is a rigorous program that will challenge you to a higher understanding. The program’s fundamental goal is to “develop professional managers/leaders capable of making valuable contributions to the system of diversity and growth of their chosen organizations.” While earning a degree you’ll take classes such as accounting analysis for decision making, economics for managers, and organizational behavior.

8. Southeast Missouri State University

Average Net Price: $13,113

School Type: Non-Profit
School Accreditation: HLC
Total Graduate Enrollment: 1,030

Southeast Missouri State University is located by the great Mississippi River. SMSU strives to be recognized for its enriched education, research, and engagement in its community. With a student-focused education, students can feel confident that graduating from Southeast Missouri State University will lead to success in future endeavors. The university is accredited by the Higher Learning Commission.

Southeast Missouri State University is invested in your success, this is proven by offering over 75 graduate programs including their MBA degree. When deciding to acquire an MBA degree at SMSU, you’ll have different concentrations to choose from. Students can get an MBA with a concentration in, accounting, international business, entrepreneurship, and more. All of these programs are prepared to meet your needs, and teach you the best skills necessary to advance you in your career. 92% of students will graduate with a job.

9. West Texas A & M University

Average Net Price: $13,185

School Type: Non-Profit
School Accreditation: SACS COC
Total Graduate Enrollment: 2,653

Founded in 1910, West Texas A & M University is dedicated to keeping tradition and providing excellence through education. The university and its community keep an atmosphere that feels welcoming and supportive for incoming students. At WTAMU you’ll find your passion, you’ll discover what you love through a variety of activities, jobs, and research opportunities offered by West Texas A & M University.

The MBA program at WTAMU has a variety of options for those seeking to strengthen their resume. This program can be taken 100% online or students can choose to take some classes in person. While earning an MBA degree you’ll learn the five most important goals of business, professional communication, leadership, business environment, and business integration. These key components are what helped rank WTAMU’s MBA program #54 for the 2020 Best Online MBA programs.

10. Georgia Southwestern State University

Average Net Price: $13,206

School Type: Non-Profit
School Accreditation: SACS COC
Total Graduate Enrollment: 440

Georgia Southwestern State University is a top-tier post-secondary education that puts its students’ needs first. As a student, you’ll feel valued, especially with the smaller class sizes that provide more one-on-one time. Part of the university’s mission is teaching individuals valuable attributes to make them well-rounded people. After graduating from Georgia Southwestern State University you’ll be skilled in quantitative reasoning, written communication, and understanding cultural differences.

The MBA program represents one of the highest standards for business school, this is proven by its accreditation from AACSB. It’s earned this highly accepted accreditation through its diligent detail to its graduates. In this program, you’ll have the opportunity to work as a team, explore your creativity, and react to unanticipated problems. Earning an MBA degree from Georgia Southwestern University will leave you feeling confident and ready.

Examining the MBA

An MBA is a Master’s Degree in Business Administration. This degree was created in the 20th century when companies sought those who were highly educated in courses such as finance, accounting, human resources, and other business-related fields. The thought process of creating the MBA was that people with such education would have the ability to advance companies using a scientific approach. While this is still helpful for many companies today, an MBA is no longer just for those seeking a career in the business management field. 

Generally speaking, in order to earn an MBA, you must have received an undergraduate degree, from an accredited college. You also need to have at least average GMAT scores, for most MBA programs. Additionally, it is to your advantage to research the programs you are interested in, long before you plan to apply. This gives you the specifics that each school looks for in students, as well as provides you with important cut-off dates. 

Earning your MBA Online

You may be excited to learn that you can now earn your MBA online. This is especially important for those with busy careers and family obligations. However, before you decide that an online MBA is a right program for you, take the time to do your research. Consider things such as which programs are accredited and which accrediting agency provides the accreditation. Find out each school’s requirements, as well as the flexibility and availability of courses.

Accreditation

Accreditation means that a specific organization has audited the school’s facility, teaching criteria, staff and students, among other items, and has deemed them in line with similar schools. This allows students to choose the best school for their personal situation, while still receiving the same quality of education. Accreditation is also important when transferring credits from one college to another, as well as fairness in graduation exams and more.

Choosing an online MBA program that is accredited is important as it helps prove the college is reputable and is not just handing out random certificates. Accreditation also provides employers with a basis of what their online MBA graduate employees should know and understand. This is a bonus to employers and it makes hiring decisions easier. 

One well-known company that provides online MBA programs with accreditation is the AACSB; which stands for Association to Advance Collegiate Schools of Business. The AACSB was formed in 1919 and is in charge of accrediting business colleges in 51 countries. This also helps to ensure that courses across these different countries are as similar as possible. Because of rigorous standards, only about 10% of online colleges, in the United States receive accreditation from the AACSB. Another important reason to use an online MBA program that is accredited by the AACSB is that schools are re-evaluated every five years for accreditation compliance. This ensures that courses remain up to the proper standards.

Business School Accrediting Agencies

  • AACSB
  • ACBSP
  • CHEA
  • DEAC
  • IACBE

Project Management MBA

Earning your online MBA in Project Management gives you the education and skills needed to handle business projects from beginning to end. This degree is ideal for those who are looking to take on a management or leadership role within a company. It often helps you to gain the skills you need to climb the corporate ladder.  

As a  project manager, your main focus is to follow entire projects, making sure budgets are met as well as meeting deadlines and solving all issues that may arise during the course of the projects. While earning your MBA in project management, you will take courses such as project planning, quality control, risk management and more. You will learn to work together with a team in order to learn how to create and achieve goals to ensure the business thrives. 

If you choose to earn an online MBA in Project Management you will more than likely be looking to work in a field such as construction, including architecture, or other industries such as software development or communications. Within these fields, there are various employment opportunities. According to Glassdoor.com, the national average salary for a Project Manager is $88,907 in 2022. 

Healthcare Management MBA

With an MBA in Healthcare Management, you will have the skills to excel in positions in the healthcare sector. Along with learning about financial issues, you will learn about laws and ethics which relate to the healthcare system. You may also participate in real-world problems in order to discover proper solutions that truly work. 

With an online MBA in Healthcare Management, you will learn how to make the best decisions for companies in the medical field. This may include helping hospitals to stay on budget and run well within their set parameters. You may also choose to be a healthcare consultant. In this position, you will learn how to stay profitable, while also making sure patients’ needs are met. Another option is to choose to go into the private sector, where you may supervise staff, handle correspondence and make sure the practice remains compliant. The average salary for someone with an MBA in Healthcare Management is $73,333 in 2022 according to Glassdoor.

Human Resources MBA

Earning your online human resources MBA will provide you with the skills necessary to make decisions regarding personnel, leadership, hiring, management, and much more. This degree is best suited for those who have an interest in how businesses run and run well, along with those who have a deep desire to work directly with people.

With an online MBA in human resources, you will have the ability to spot issues within the workplace, as well as be able to correct the problem. You will learn about workplace legalities, business ethics and employee benefits. Additionally, you will have the ability to properly align positions and help to create proper pay scales. 

Choosing an online MBA in Human Resources is a wise decision because it is such an important role in many companies. With this online degree, you may choose a career such as Human Resources Manager. In this position, you will help employees with their needs, as well as enhance company morale, take care of company needs, and much more. According to Glassdoor, the average salary for a Human Resources Manager is $65,218 in 2022.

Dual Online MBA Programs
If you are dedicated to taking your education to the next level, consider doing a dual online MBA program. Dual MBA programs are set up to allow students to earn two degrees by allowing specific classes to count towards both degrees, saving both time and money. This is a great option for anyone interested in more than one degree to consider. 

MSN MBA Dual Degree Online

Earning your MSN MBA dual degree online is a great choice if you are seeking both your master’s degree in nursing as well as your master’s in business administration. Having both of these degrees opens a variety of opportunities in the healthcare sector, such as becoming a hospital administrator or doing a variety of consulting work.

Benedictine University allows you to earn your Master of Science in Nursing and Master of Business Administration would require a total of 28 courses and 3.5 years to complete. By doing the online dual MSN MBA program you only have to complete 23 courses and 3 years. In this example, you will also save around $12,000. Keep in mind that you must apply and be accepted into both courses in order to earn this dual online MBA.

MBA MHA Dual Degree Online
Earning your MBA MHA dual degree online provides you with the management skills you would learn while earning your master’s in business administration. But it also includes the highly sought-after skills that you would learn when earning your master’s in healthcare administration. This dual degree offers a variety of career choices, including pharmaceuticals, health insurance, public policy, and more.

During our research, we found that several online schools offer MBAs with a concentration in the healthcare field. However, we had trouble finding 100% true, online MBA MHA dual degree opportunities.

Weber State University offers a dual MBA MHA degree. However, this is not an online program. Students must attend classes on campus. In the program for the dual MBA MHA degree, you must choose which degree you want to earn first. Earning your MBA first requires 66 hours while earning your MHA first requires 69 hours. Weber State allows you to fill out one single application, however, you must be accepted into both programs to earn the dual degree.

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