An affordable online Master of Business Administration (MBA) can unlock career growth without piling on student debt. While traditional MBA programs often come with six-figure price tags, online options average about 25% less — yet still deliver impressive returns. For example, NYU reports a 56% salary increase for its MBA grads. In this OMD guide, we spotlight accredited online MBA programs that offer quality, flexibility, and value, helping you advance your career while staying financially grounded.
Author: Angela Myers, BA
Expertise: Graduate Ed.BusinessSocial WorkEditor: Ginny Gillikin
Expertise: EditorialGraduate Ed.Online Learning- Degree Benefits
What the benefits of this type of degree are, how it’ll help me succeed, and why I should enroll…
Read more - Inside Real Programs
An inside look at actual online programs, exploring their structure, curriculum, costs, admission criteria, and more…
Read more - FAQs
Insightful and guiding answers to common questions prospective students like myself have about earning this degree…
Read more - Saving Strategies
How I can save money on my online master’s degree beyond enrolling in a school with affordable tuition…
Read more - Top Programs
A list of today’s best online and hybrid programs based on quality, affordability, and student support…
Read more
Why Cost Matters: The Benefits of an Affordable Online MBA
Earning an MBA online isn’t just about saving money; it also comes with unique advantages. From flexible scheduling and cost savings to career-boosting opportunities, an affordable online MBA degree program can fit your lifestyle.Below, we highlight three major perks of choosing a budget-friendly MBA degree program.
Affordability
Low-cost online MBA degree programs let students earn a graduate degree without a six-figure price tag. You’ll pay lower tuition per credit and avoid extra costs like relocating or commuting. The total tuition cost of some accredited programs is under $10,000, so you can graduate with minimal debt and a strong return on investment (ROI).
Flexibility
An online MBA degree program lets students earn a degree without quitting their job. Most online MBA students continue to work full-time while studying. Many schools with these programs offer asynchronous classes, so you can do coursework after work hours or on weekends. This flexibility makes balancing school, work, and/or family commitments easier.
Career Advancement
An MBA credential can lead to higher-paying jobs and leadership roles. Many graduates obtain promotions or new opportunities soon after finishing an MBA degree program. On average, MBA graduates boost their salaries by approximately 46% after earning a degree. With an affordable online MBA, you can get that salary increase without overspending on a program.
Comparing the Most Affordable Online MBA Degree Programs
Fayetteville State University (FSU)
FSU’s fully online MBA degree program combines flexibility with exceptional value for the cost. It’s touted as the most affordable MBA program in the University of North Carolina System, and it costs a fraction of what other UNC schools charge for programs that are accredited by the Association to Advance Collegiate Schools of Business (AACSB).
The program requires completion of 36 credit hours (core courses plus elective courses for a general MBA or a specialization), which students can complete in two years. (Accelerated options might shorten the program’s length). The distance learning format is designed for working professionals; it features live and recorded lectures for convenience. Admissions officials require a bachelor’s degree. GMAT/GRE scores are waived for qualified applicants who meet certain GPA and professional experience thresholds.
Students can choose from several concentrations to tailor the MBA degree program (e.g., Business Intelligence, Entrepreneurship, and Health Care Management). The program provides graduates with broad management and leadership skills that can be used to advance careers in corporate, non-profit, or government sectors.
Career outcomes span many fields — an MBA degree program prepares graduates for roles in finance, marketing, project management, and C-suite positions. Fayetteville State University supports military-affiliated students with special tuition assistance programs. The school offers competitive graduate assistantships and scholarships to help reduce costs for students who qualify.
Mode: Fully online
Number of Credits: 36 to 39
Cost per Credit: $280.26 to $616.26 (residency dependent)
Estimated Total Tuition: ~$10,089 to ~$22,185 (residency dependent)
Financial Aid:
Federal financial aid is available, and a limited number of graduate assistantships and institutional scholarships can help offset costs. Military and veteran students can use tuition assistance or GI Bill benefits, and FSU offers special military tuition rates.
The University of Texas Permian Basin (UTPB)
UTPB offers a fully online AACSB-accredited MBA degree program. It’s one of the nation’s most budget-friendly programs. It can be completed in one year with full-time study. Students with an undergraduate degree in business need to take 30 credit hours of classes, while those without a business background must take 36 credit hours. (The extra six credits cover foundational business topics.)
Tuition is affordable — approximately $391 per credit hour, with no extra charge for non-Texas residents. This totals approximately $11,730 for the standard 30-credit program — a fraction of the six-figure costs of many MBA degree programs. Despite its low cost, the program maintains high quality; UTPB’s College of Business is AACSB-accredited, placing it among the top 5% of business schools worldwide.
UTPB’s admissions department looks for a solid academic background; a bachelor’s degree is required, and a minimum 3.0 GPA in the last 60 credits can help students secure admission without a GMAT score. Applicants with a GPA below 3.0 can be admitted with supplemental materials or test scores.
The MBA curriculum emphasizes practical leadership, strategic thinking, and analytical skills across all core business areas. The program prepares graduates for advancement to roles like marketing manager, financial manager, and business operations manager. It also prepares them to launch their own business as an entrepreneur. Career outcomes for UTPB’s MBA graduates are impressive — alumni have landed jobs at major companies like Amazon, Google, Dell Technologies, JPMorgan Chase & Co., Edward Jones, and Charles Schwab.
Mode: Fully online
Number of Credits: 30 to 36
Cost per Credit: ~$391
Estimated Total Tuition: ~$11,730 (30 credits)/~$14,076 (36 credits)
Financial Aid:
UTPB encourages students to utilize financial support. Financial aid packages (grants, loans, and school-based scholarships) are available to help make this already affordable MBA degree program more accessible. UTPB also accepts federal financial aid and institutional scholarships. There is no out-of-state tuition upcharge, and students can finance their studies through graduate loans or employer tuition assistance.
Southeastern Oklahoma State University (SOSU)
SOSU’s fully online MBA in General Business degree program is known for its streamlined format and low cost. The program requires completion of 30 credit hours and is structured in accelerated seven-week terms that allow motivated students to finish in one year. The university’s John Massey School of Business is accredited by the AACSB, which ensures that the online curriculum meets high standards of rigor and relevance. Students learn core business administration knowledge with the option to focus on specializations like finance, marketing, entrepreneurship, or data analytics.
For the admissions process, applicants need a bachelor’s degree and a minimum 2.5 GPA. A GMAT score is not required. Applicants with higher GPAs (3.0 or above) receive unconditional admission, while candidates with a 2.5–2.99 GPA might be admitted based on professional experience or a portfolio review in lieu of test scores. This flexibility makes the program attractive to working professionals.
Career pathways supported by SOSU’s MBA program include roles in business and industry. Graduates are prepared for positions in management and administration — for example, school officials note that alumni commonly advance to positions like Operations Manager or Production Supervisor in various sectors. The leadership, analytical, and strategic planning skills gained from the MBA degree program can support career growth in areas such as project management, financial analysis, and human resources management.
Mode: Fully online
Number of Credits: 30
Cost per Credit: $380
Estimated Total Tuition: $11,400 (including fees)
Financial Aid:
The university offers scholarships to graduate students on a competitive basis (through its foundation and donor-funded programs). For example, awards are given for academic excellence and to members of underrepresented groups. Many students take advantage of employer tuition assistance and graduate assistantships.
Answering Affordable Online MBA Degree Program FAQs
Are these programs credible and respected by employers?
Yes; as long as it is properly accredited, an online MBA degree holds the same value as a degree earned on campus. Many schools with online MBA programs offer curricula and diplomas that are identical to their in-person counterparts. Approximately 60% of global recruiters surveyed in 2022 said they view online MBA graduates equal to traditional graduates. Choosing a reputable school is important so that an affordable price tag doesn’t reduce a program’s credibility.
What are the admissions requirements for an online MBA degree program?
Most admissions departments require a bachelor’s degree and official transcripts for these programs. You’ll likely need to submit a resume that details any work experience, letters of recommendation, and a statement of purpose. Some schools with these programs ask for a GMAT or GRE score, but many waive these tests or make them optional — especially for students who have relevant professional experience or a strong academic record.
How long does it take to complete an online MBA degree program, and what is the workload like?
This type of program typically takes approximately two years of full-time study to complete. Part-time students (who often work while studying) might take three to four years to finish, although some programs offer accelerated tracks and can be completed in 12 to 18 months. The workload is significant but flexible; students should expect to spend approximately 15 to 20 hours per week on coursework if they work while attending school. Good time management can help students keep up with classes and assignments.
Can I get financial aid or scholarships for an online MBA degree program?
Yes; online MBA students might qualify for financial aid. They should fill out a FAFSA form to access federal student loans. (Graduate students are eligible for federal loans that can help with tuition costs.) Many schools offer scholarships or tuition discounts for MBA students. You can also seek external scholarships or employer tuition assistance programs. All of these options can significantly reduce the out-of-pocket cost of an online MBA degree program.
Is an affordable online MBA degree program worth the investment?
Absolutely; this type of program is often worth the cost, especially if it’s affordable. An MBA degree program usually leads to higher earnings and new career opportunities. MBA graduates typically see a significant salary increase (approximately 46% on average), which helps offset the cost of tuition. You’ll also gain valuable skills and expand your professional network. Choosing a lower-cost program further improves your ROI, since you’ll spend less money upfront and can recoup your investment faster.
Exploring Ways to Save on an Online MBA Degree Program
Though a program might be budget-friendly, the cost of an MBA degree can add up. Fortunately, smart ways to save are available. From taking advantage of financial aid and scholarships to leveraging employer tuition benefits, the tips below can help you reduce your expenses and make your online MBA degree program as affordable as possible.
1. Fill Out a FAFSA Form
Students should submit a Free Application for Federal Student Aid (FAFSA) form to see if they qualify for federal financial aid for graduate school. Master’s degree students might qualify for federal loans (and sometimes work-study programs). File a FAFSA form before the deadline to ensure that you don’t miss any eligible aid that can help fund your MBA degree program.
2. Apply for Scholarships and Grants
Reduce your out-of-pocket costs by securing “free money.” Look for scholarships for MBA students and grants from schools, companies, and industry organizations. Use databases like Scholarships.com to find awards that are designed for graduate students. Every scholarship dollar is one less dollar you’ll need to borrow, so apply widely.
3. Use Employer Tuition Reimbursement
Check if your employer offers tuition assistance. Nearly half of organizations offer a tuition reimbursement program that can cover part of your program’s costs. Many companies pay up to $5,250 per year for your education. If your job offers this benefit, take advantage of it.
4. Finish Your MBA Degree Program Faster
The longer you stay in school, the more tuition you’ll need to pay. Many online programs offer accelerated tracks or let you take extra courses so you can graduate early. Some one-year MBA degree programs let students finish in 12 to 18 months, which lowers the total cost of tuition.
5. Claim Education Tax Breaks
Use tax benefits to save on your MBA degree program. For example, the Lifetime Learning Credit can give you up to $2,000 back at tax time for your tuition costs. Other education-related credits can help reduce expenses as well, so claim any tax breaks that you qualify for.
Ranking the Most Affordable Online MBA Degree Programs
We ranked the most affordable online MBA degree programs to help you find a quality program that won’t put you in debt. Our analysis incorporated data from the U.S. Department of Education and over 7,700 colleges and universities.
We considered factors like tuition costs, financial aid, accreditation, number of online offerings, and student support services. The result is a list of accredited MBA degree programs that offer a top-notch education at a budget-friendly price.