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Cheapest MBA programs

Updated April 17, 2017

The Master of Business Applications (MBA) is one of the most sought-after degrees for business professionals. Many students looking to complete their graduate degree in this field are already in debt for their bachelor's degrees, so cost-effective MBA options are a priority. Students can save time and money by carefully selecting their schools.

State Schools

Some state schools are a viable alternative for students interested in completing their MBA at a greatly reduced cost. Although larger state schools can be fairly expensive, schools such as Colorado Technical University offer MBA degrees for less than £6,500 per year in tuition. Other state schools charge £5,200 a year.

Private Schools

Private academic institutes are typically the most expensive option for both undergraduate and graduate degrees. Tuition for MBA students at Wharton Business School, for example, runs as high as £19,500 a year. Still, institutes such as Chancellor University have branches dedicated to providing students with low-cost MBA programs. Chancellor's branch, the Jack Welch Management Institute, offers a complete MBA program for only £13,000.

Internet

The Internet is one of the most time-effective ways of attaining an MBA degree for a fraction of the cost. An MBA degree at the Keiser University eCampus, for example, can be completed in 48 months for less than £16,250 per year.

Cost-Saving Options

The best tip for saving money at a state or private school is to utilise cost-saving options such as commuting, buying used books and applying for all available scholarships and grants. Although higher education is never cheap, students can save roughly £7,800 a year by arranging their own room and board-a significant amount for the dedicated but financially struggling MBA student.

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About the Author

Catherine Fiorentino began work as a professional freelance writer in 2006. Since then she has written for several online content websites, private clients and blogs. Fiorentino has an Associate of Arts in journalism and mass communication from Kent State University.