There are a number of online MBA program which fall into the "affordable" category, but these might not be the best choice for the business world. The old adage that you should "dress for success" is also true when it comes to the degree that you "wear" in your resume. Choosing a program like Regent University is probably not the best course of action. Online Education Database ranks Regent second in its overall rankings and it is the highest rated among the schools offering MBA degrees, but most employers are not going look as favorably on a candidate from Regent as they would from a school like Penn State University or an elite school like Harvard. When choosing your MBA program look for a school that is accredited by the AACSB (Association to Advance Collegiate Schools of Business). This distinction along with a recognizable name will help further your business career.
Pursuing an online MBA can cost you anywhere from $6,000 to $100,000 or more. The average going rate is somewhere in the neighborhood of $25,000. Rates often vary for in-state residents and non-resident students. If price is a major issue in your decision-making process, you may need to look for a school in your current state of residence or possibly consider a change of residence for one year prior to attending your chosen school. If you are considering a move prior to attending school, be reasonably sure of your chances of getting admitted to the program before making the transition.
There are sites like geteducated.com that rank schools according to affordability, student satisfaction and public perception. Geteducated.com has chosen East Carolina University as its choice for top online MBA program. Schools in this list offer programs that can be taken entirely online and are fully AACSB accredited. The problem with choosing ECU is its affordability versus the next school on the list, the University of Houston. Resident students can expect to pay $7,848 per year for attending ECU whereas non-resident students will see the price jump to $26,064. That spike in price may be too steep for many online degree seekers. A more affordable option with the same level of quality is the University of Houston priced at $8,730 for resident students and a much smaller jump to $15,570 for non-resident students. The University of Houston's global emphasis also makes it an attractive draw for most students.
Coming in lower on the list than the University of Houston are two schools whose affordability for non-resident students makes them attractive options also. Both schools were rated in the top 10 by Geteducated.com and could be a better choice for some students. Western Kentucky University and Morehead State University both offer online MBA degrees in the range of $12,000 per year for both resident and non-resident students. Be sure that your school meets the criteria of affordability and reputation and you will be well on your way to furthering your career in the business world.