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Earning an MBA can yield great returns professionally and financially. Business school graduates regularly see six-figure salaries with opportunities for sign-on bonuses and promotions. But fronting the initial cost of the degree can be challenging, with the costs of some programs totaling tens of thousands—or even hundreds of thousands—of dollars. For those seeking more inexpensive ways to earn their MBA, Fortune has compiled a list of the 25 most affordable online MBA programs. This list was compiled using data provided by schools for our Best Online MBA Programs in 2022 list. For schools that provided the cost per credit instead of the annual or total tuition, we multiplied cost per credit by the number credit hours required to graduate from that program.
With tuition of slightly less than $9,000, Louisiana Tech University ranked as the most affordable online MBA—or best budget online MBA—among Fortune’s ranking. Another 10 schools offer tuition of less than $15,000 and the University of Dubuque also recently announced an online MBA program that costs less than $15,000.
The average cost of an online MBA can vary widely, from just under $9,000 to nearly $80,000. When considering the most affordable online MBA programs, however, there are 25 options that all come in with tuition of less than $20,000. Because many online MBA programs are designed to be completed while working part- or full-time, that allows students to continue earning while enrolled—potentially reducing some of the financial burden of going back to school.