There’s no question that earning a Master of Business Administration degree can give your career a boost and give you a competitive edge in the market. But deciding to get an advanced degree is a major decision that can be costly and require big changes to your life. Graduate students may have to quit their full-time job or drastically change their hours. They may even have to relocate closer to a college campus, and that’s not to mention the high costs associated with obtaining an MBA. But there is a solution that will make getting a high-value MBA degree much more cost-effective and convenient: pursuing a degree from one of the top affordable online MBA programs.
How to Save Money With an Online Degree
Students who receive online degrees often find that they save a lot of money by avoiding brick-and-mortar institutions. Spending less money on a degree doesn’t necessarily mean that you will be sacrificing the quality of your education. Research the specifics of the program to learn more about each program and what will best suit your goals to make sure that you get the best value. Online MBA programs vary, but they don’t have to be expensive to be a good investment.
Earning an MBA online can also help you save money in other ways:
Lower Tuition Costs
Institutions that specialize in online learning often have lower tuition rates than brick-and-mortar schools because they do not have the same overhead costs. These institutions don’t have to maintain dorms, gyms, cafeterias, and other large buildings. In some cases, a comparison of online and traditional schools has shown a significant difference in tuition costs. A little research will show what the most affordable online MBA option is for your needs.
No Commuting Costs
If you participate in online courses, you don’t even have to leave your house to attend class. That means you won’t have to pay for gas, wear and tear on your vehicle, or an (often costly) campus parking pass.
No Printing Fees
Almost every college student has suffered from a last-minute printer scramble. Relying on your personal printer means that you might run out of ink or experience a malfunction just when you need your paper for class, and printing large volumes is pricey, whether you are printing at home and draining an ink cartridge or paying for a printing service. Out of all of the options for turning in homework and research papers, digital submission is by far the least expensive. Online MBA programs will allow you to do just that.
Lower Expenses for Food and Amenities
College students are often in serious need of caffeine, and early-morning classes can mean early-morning cups of tea and coffee from expensive convenience stores and campus cafes. There’s also the added expense of snacks and meals during the long hours spent in class. When you study from home, you’ll be able to save money by treating yourself from your own coffee pot or kitchen cabinet.
No Blue Books to Buy
Have you ever taken a test and had to buy a blue composition book for the essay portion? These standardized booklets aren’t necessary when you take a test online, so you won’t have to worry about professors asking you to buy blue books before an exam.
No Lost Wages
When you need to show up for class at a set time in a set location, you run the risk of eating into your regular work hours and having to shift your schedule around or even quit your job. Online courses set deadlines for reviewing and completing coursework, but when you do so is flexible to fit your schedule.
Take Part in Employer Reimbursement Programs
You may find that your employer considers an MBA highly desirable and will help fund your pursuit of a degree. The savings will vary greatly depending on the company, but the programs can lead to obtaining an affordable online MBA.
Find the Most Affordable Online MBA
According to U.S. News & World Report, these are some of the most affordable options for obtaining an online MBA:
- Emporia State University
- University of North Dakota
- William Woods University
- Southeast Missouri State University (Harrison)
- Western Illinois University
- University of the Cumberlands
- Sam Houston State University
- Missouri State University
- University of Texas of the Permian Basin
- Fitchburgh State University
How do you select which of these programs is the best fit for you? Research their course offerings, their reputation, and the CVs of their instructors. Find out where alumni work and learn more about their accomplishments. Then, decide which programs and courses best fit your career aspirations. The most important aspect of choosing an online MBA program is deciding which one is most likely to help you reach your career goals. Explore our guides to learn more about choosing an affordable online MBA program.