* Accreditation Issues: The biggest risk is enrolling in a program that's not accredited or accredited by a regional or nationally recognized but less prestigious accrediting body. An unaccredited MBA will likely hold little to no value in the job market. Even accreditation from lesser-known bodies might not impress potential employers. Thoroughly research the accreditation status of *any* online MBA program before applying.
* Lower Quality Education: Cheap programs often cut corners on faculty, resources, and support. This can manifest in lower-quality teaching, limited access to career services, outdated curriculum, and less engagement with instructors and peers. The learning experience may not be as robust or effective as a more expensive program.
* Limited Networking Opportunities: Networking is a significant benefit of an MBA. Cheap online programs may offer fewer opportunities for networking with faculty, fellow students, and alumni, hindering your professional development and career prospects.
* Hidden Costs: While the advertised tuition might be low, there could be hidden costs like technology fees, textbook expenses, or mandatory software subscriptions that significantly inflate the overall price. Look carefully at the complete cost breakdown.
* Job Placement Support: Cheap programs may not invest as heavily in career services, potentially leaving you struggling to find a job after graduation, negating the return on your investment (even a small one).
* Reputational Damage: Graduating from a poorly regarded or unaccredited institution can negatively impact your career prospects. Employers may view a degree from a questionable program with skepticism.
* Rigor and Curriculum: A cheap program might sacrifice the rigor and comprehensiveness of the curriculum to keep costs down, potentially leaving you inadequately prepared for management roles.
* Lack of Support Services: Expect fewer (if any) personalized support services like academic advising, mentorship programs, or tutoring. This is crucial for many students, particularly those balancing work and studies.
In short, while the allure of a cheap online MBA is understandable, the potential drawbacks—especially concerning accreditation and career prospects—can significantly outweigh the cost savings. It's far better to invest in a reputable program, even if it's more expensive, to maximize the return on your education.