When exploring graduate schools that offer a Master of Business Administration, cost is a key consideration. No doubt, the cost of tuition and fees has ballooned in recent years. U.S. News & World Report pegs the increase at 157 percent at private universities and 237 percent at public universities in the United States over the last 20 years.
Fortunately, there are affordable options for earning your MBA. You can do it online from the comfort of your home or from anywhere with an internet connection.
How Much Does a Master of Business Administration Cost?
The National Center for Education Statistics shows the average graduate tuition and required fees for all schools was $17,900 per year (2015-2016). The average was $11,300 for state schools and $24,000 for private schools. Most graduate programs run at least two years, so the cost to complete the degree is twice as much – an average of $34,000.
U.S. News & World Report reveals that the average tuition plus fees for graduate school in the 2017-2018 school year at ranked schools was $26,000 for public out-of-state schools and $41,000 for private schools.
"What Is the Average Cost of an MBA Degree?" from ThoughtCo. says the price tag for an MBA ranges from $7,000 to more than $120,000. Those costs do not take into consideration expenses related to commuting or child care.
An Affordable MBA Option
You can earn a quality MBA from an accredited school for less than $20,000. Barry University offers an online MBA program with multiple concentrations. Whether you enroll in the general MBA program or a specialized program focused on management or marketing, the price is the same for all. Completing the Barry University MBA program costs $19,800, and that includes all fees.
Barry University's business school is accredited by the Association to Advance Collegiate Schools of Business (AACSB International) as well as the Southern Association of Colleges and Schools Commission on Colleges (SACSCOC).
Barry University's MBA program is offered in a 100 percent online format. This means further savings, as there is no commute to campus, which saves money on gas and parking. In addition, students with children can minimize child care expenses.
Barry University is a member of the Servicemembers Opportunity Colleges (SOC) consortium. This consortium allows men and women in the U.S. military and their family members to transfer credits to any institution that is a member of the SOC. They may also receive credit for military service completed and potentially qualify for in-state tuition when they have lived in-state for 25 percent of the degree coursework.
If you have started an MBA program and could not complete it due to a military move, Barry University will accept the credits earned that meet SOC transferability requirements. This benefit applies to military spouses and dependents, too.
Even without any coursework to transfer, a student can earn a Barry University online MBA in as few as 12 months.
Learn more about Barry University's online Master of Business Administration programs.
Sources:ThoughtCo.: What Is the Average Cost of an MBA Degree?
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