This page highlights accredited online Master in Health Administration (MHA) programs that rank highly on affordability and discusses other ways to lower the cost of your master’s degree. Read on to learn if these affordable online master’s programs are right for you and find out how to fund your master’s degree.
Author: Kristina Brune
Expertise: Student SuccessGraduate Ed.Online LearningEditor: Jordan Cosselman
- Funding Options
Funding Your Online MHA: 5 Ways to Save
Read more - FAQs
FAQs about Affordable MHA Programs
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Most Affordable Online Master’s in Healthcare Administration (MHA) Programs
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Healthcare is growing quickly which means there are many opportunities for employment within the industry, including leadership roles. The BLS predicts a 16% employment growth in healthcare between 2020 and 2030, making it a great time to pursue an online Master of Healthcare Administration (MHA). An MHA builds on your previous education and advances your career by giving you detailed knowledge of healthcare systems. It prepares you for work in management and other leadership roles in healthcare facilities, as well as in business and financing organizations.
Since most MHA students are already employed, a flexible and affordable online class schedule is important. This guide reviews the most affordable online MHA programs and highlights how to find an accredited program that is also flexible.
Funding Your Online MHA: 5 Ways to Save
For most students who choose to pursue an MHA, affordability is key. Luckily, there are several ways that you can reduce the cost of obtaining your MH, including options for extra earning potential while you pursue your degree. Below are five of the main ways to reduce the cost of your online MHA.
Scholarships, grants, and fellowships created for MHA students.
Grants, scholarships, and fellowships are great ways to receive funds for tuition. They are awarded based on factors like academic performance, financial need, special interests, race, gender, identity, and more. You can find more information and a list of potential scholarships on Scholarships.com and information on fellowships at the American College of Healthcare Executives. You can also find more information in OMD’s scholarships and resources guide.
Work-Study or Assistantships
Work-study or graduate assistantships allow students to put the skills they’re learning to work in real-life settings while finishing their degrees. Interested students need to fill out the Free Application for Federal Student Aid (FAFSA). If you qualify, you’ll look for a job through the school. The University of Iowa is an example of a school offering graduate assistantships for MHA students.
Employer Tuition Reimbursement Programs
Some employers provide tuition reimbursement to employees interested in pursuing higher education. Employees with a graduate degree bring advanced knowledge and skills to the organization, and tuition reimbursement is a great way for companies to attract top talent. If you’re currently employed, ask your employer if it has a tuition reimbursement program. Many companies offer up to $5,250 per year, the maximum amount allowed by the IRS free of taxes. Advent Health University and BJC Healthcare are two examples of companies that offer tuition reimbursement.
Payment Plans
Many schools allow MHA students to pay their tuition on a payment plan, alleviating the burden of making large-sum payments at once. For example, Florida Atlantic University allows students to pay tuition in four installments. Another example, the University of Illinois, offers two payment plan options, monthly payments or six payments over the fall and spring semesters.
Paid Internships
A paid internship can offset the cost of school but also give hands-on knowledge and experience. MHA students can find Internships in hospitals, educational settings, clinics, healthcare organizations, or medical businesses. Many schools assist in placing students in internships, but students can also find paid internship opportunities on career sites like Indeed.
FAQs about Affordable MHA Programs
What impacts the affordability of an online master’s program?
Many factors impact the cost of an online MHA program. Whether a school is public or private and if a program is online or in-person can impact the cost. You can also look for ways to reduce costs through transfer credits and through grants, scholarships, or work-study opportunities.
What is the ROI of an online MHA degree?
An MFA can advance your career and earning options, and it’s important to understand the potential ROI (i.e., how much you will earn after the degree versus what the degree will cost). MHA tuition costs vary a great deal, anywhere from $15,000 to $36,000 based on the schools profiled above. According to the U.S. Bureau of Labor Statistics, medical and health services managers with master’s degrees can make over $100,000 a year. So, the ROI potential of an MHA is significant.
How can I ensure that an affordable MFT program is high-quality?
Choosing an online MHA program that meets your needs and provides a high-quality education involves choosing a program and school that is properly accredited, offers networking and career training and placement services, has experienced faculty, and provides student support. Looking at how many students are placed in jobs and how they perform on national certification exams can also indicate the quality of a program.
Is an online MFT more affordable than an in-person MFT?
Enrolling in an online MHA program is a great way to save money. Not only can online programs be slightly cheaper than in-person programs, there are other ways an online program reduces your education costs. An online program means you don’t have housing costs associated with living on campus, and you won’t have to commute to campus, saving on money and gas. You also won’t have to pay for parking on campus. Finally, you’ll save time and money by taking classes and completing homework when it works for you, which frees up time for other things.
Can job experience count towards a master’s degree and help cut costs?
While some schools offer credit toward their master’s programs based on an applicant’s previous work experience, MHA applicants typically won’t receive credit hours for work experience. However, prior relevant work experience can help MHA candidates in other ways, such as using experience during the application process to help offset a lower GPA in undergraduate classes. It can also help you stand out among other candidates and excel in internships or practicums.
How can I know if an affordable MFT program is right for me?
Choosing an online MHA program is a very personal and individual choice. Each student has different goals, experiences, and learning types. Only you can know what the most important factors are for you when choosing a program. Make a list of exactly what you must have in an online MHA program, then research schools to see how they fit your needs to help you choose the best program for you.
Most Affordable Online Master’s in Healthcare Administration (MHA) Programs
Choosing an online MHA program should be based on your needs and goals. Important factors include affordability, specialties available, accreditation, location, faculty, and learning format. For most students, though, cost is the deciding factor. We’ve compiled a list of the most affordable online MHA programs based on a combination of key affordability and quality metrics from the Integrated Postsecondary Education Data System (IPEDS). Learn more about how we calculated the rankings by clicking on the “About the ranking” button below.