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 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.
This ranking was last updated September 2022.
Whether it’s 10 or 10,000 miles from Boston, earn your BU Questrom MBA wherever you are.
Accessibly priced at $24,000, the online MBA from Boston University’s Questrom School of Business is a highly engaging, digitally delivered program designed for ambitious global business leaders. The program can be completed 100% online in as few as 24 months.
Accessibly priced at $24,000, the online MBA from Boston University’s Questrom School of Business is a highly engaging, digitally delivered program designed for ambitious global business leaders...
Earn Your MBA from Maryville University - a faster, more convenient, and affordable way to earn an MBA.
Earn your Master of Business Administration online from Maryville University in as few as 12 months. Prepare to advance into a management-level role. Choose from 12 optional concentrations/built-in certificates.
Earn your Master of Business Administration online from Maryville University in as few as 12 months...
Louisiana Tech University decides admissions based on an applicant’s academic history and test scores. GMAT scores are required, but some applicants can submit GRE scores. Applicants can receive unconditional admission if they have an undergraduate GPA of at least 2.75 and a GMAT score of at least 450. Applicants don’t have to submit letters of recommendation. Last year, Louisiana Tech admitted 78% of online MBA applicants to its program, which currently enrolls 141 students. To graduate from the program, online MBA students need to complete 30 credits.
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Louisiana Tech University decides admissions based on an applicant’s academic history and test scores...
The University of Texas of the Permian Basin requires applicants to submit a GMAT or GRE score if an applicant’s undergraduate GPA is below 2.5. Applicants also need to submit two letters of recommendation to be considered. Incoming online MBA students, on average, had an undergraduate GPA of 3.5. Last year, the University of Texas of the Permian Basin accepted 82% of applicants. Students need to complete 30 credits to graduate.
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The University of Texas of the Permian Basin requires applicants to submit a GMAT or GRE score if an applicant’s undergraduate GPA is below 2...
Southeast Missouri State University (Harrison) requires applicants to submit a GMAT or GRE score for admission to its online MBA program, but offers waivers. To determine admission, the university uses a formula based on GMAT scores and GPA. Applicants don’t have to submit any letters of recommendation. Last year, the public university admitted 47% of applicants to its online MBA program. Applications to Southeast Missouri State University (Harrison)’s online MBA program are due August 1. The school currently enrolls 63 online MBA students. The program’s one-year retention rate is 76.2%. Online MBA students need 33 credits to graduate.
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Southeast Missouri State University (Harrison) requires applicants to submit a GMAT or GRE score for admission to its online MBA program, but offers waivers...
Skip the GMAT and earn a world-class MBA online from Syracuse University’s AACSB-accredited Martin J. Whitman School of Management. The program features a rigorous curriculum with six career-focused specializations. Upon graduation, 59% of graduates report receiving a raise or promotion.
Skip the GMAT and earn a world-class MBA online from Syracuse University’s AACSB-accredited Martin J...
The University of Louisiana–Lafayette BI Moody III College of Business Administration requires a GMAT or GRE to apply to its online MBA program. Applicants can request a testing waiver if they fall into one of the following categories: a 3.0 undergraduate GPA or higher; 2.75 to 2.99 GPA with three years of work experience; or 2.5 to 2.74 GPA with five years of work experience. Last year, incoming students had an average undergraduate GPA of 3.07. The acceptance rate to the University of Louisiana’s online program was 61.4% last year. The school enrolls 1,487 online MBA students who must complete 30 credits to graduate.
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The University of Louisiana–Lafayette BI Moody III College of Business Administration requires a GMAT or GRE to apply to its online MBA program...
West Texas A&M University requires online MBA applicants to submit a GMAT or GRE score unless the student has an undergraduate GPA of 3.0 or higher, has a graduate or postgraduate degree with a cumulative GPA or 3.0 or higher, or has 10 years of post-graduation, professional experience that shows significant, upward career progression. Applicants need three letters of recommendation to apply, and incoming online MBA students had an average undergraduate GPA of 3.55 last year. The school admitted 83% of applicants to its online MBA program last year, and the program had a graduation rate of 94% within three years. Students need to complete 31 credits to graduate.
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West Texas A&M University requires online MBA applicants to submit a GMAT or GRE score unless the student has an undergraduate GPA of 3...
The University of Southern Indiana requires prospective online MBA students to submit a GMAT or GRE score. Waivers are available if the applicant earned a graduate degree, has an undergraduate GPA of 3.0 or above, has an undergraduate GPA of 2.5 or above along with three years of full-time professional work experience, or is a member of Beta Gamma Sigma. Letters of recommendation are not required. On average, incoming online MBA students have an undergraduate GPA of 3.28. The University of Southern Indiana offered admission to 96% of online MBA applicants last year and students need to complete 30 credits to graduate.
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The University of Southern Indiana requires prospective online MBA students to submit a GMAT or GRE score...
Texas A&M University, Kingsville requires all online MBA applicants to submit GMAT or GRE scores, but the requirement may be waived according to academic excellence, work experience, and unique certificate completion. If a student has a previous graduate degree, then they don’t have to submit test scores. Incoming online MBA students at Texas A&M University, Kingsville had an average undergraduate GPA of 3.28 and an average GMAT score of 460. The school accepted 92% of online MBA applicants last year, and the program had a graduation rate of 85% in three years. Students need to complete 30 credits in order to graduate.
Texas A&M University, Kingsville requires all online MBA applicants to submit GMAT or GRE scores, but the requirement may be waived according to academic excellence, work experience, and unique certificate completion...
All online MBA applicants to Missouri State University College of Business’ online MBA program need to submit either a GMAT or GRE score or receive a waiver, which are granted on an individual basis. The testing requirement has been suspended through the fall 2022 term, however. Incoming students at Missouri State University had an average 3.34 undergraduate GPA and GMAT score of 560. Missouri State University admitted 100% of online MBA applicants last year. The school offers admissions on a rolling basis and currently enrolls 303 online MBA students.
All online MBA applicants to Missouri State University College of Business’ online MBA program need to submit either a GMAT or GRE score or receive a waiver, which are granted on an individual basis...
GMAT waivers are available for the online MBA from Rice Business, which enables aspiring entrepreneurs to earn their MBA in as few as 24 months. Students amplify their technical and leadership skills and can select from electives such as finance, marketing, entrepreneurship, strategy and operations. Located in the energy industry hub of Houston, Texas, Rice Business also features specialized electives focused on the energy field.
GMAT waivers are available for the online MBA from Rice Business, which enables aspiring entrepreneurs to earn their MBA in as few as 24 months...
GMAT or GRE scores aren’t required to apply to Delta State University’s online MBA program. Incoming students to the program last year had an average undergraduate GPA of 3.14. To be considered for admission, international students don’t have to submit a TOEFL or IELTS scores. Applications are due August 23, and applicants aren’t required to submit any letters of recommendation. Delta State University admitted 85% of online MBA applicants last year. The online MBA program currently enrolls 190 students and has a one-year retention rate of 66%.
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GMAT or GRE scores aren’t required to apply to Delta State University’s online MBA program...
Troy University requires online MBA program applicants to provide scores from the GMAT or GRE. Incoming students also must submit one letter of recommendation. On average, incoming online MBA students had an undergraduate GPA of 3.108. Troy University accepted 49% of applicants to its online MBA program last year, and the program had a graduation rate of 60% in three years. Students need to complete 31 credits to graduate.
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Troy University requires online MBA program applicants to provide scores from the GMAT or GRE...
The University of Louisiana–Monroe doesn’t require GMAT or GRE scores for admission to its online MBA program, and letters of recommendation are also not required. Incoming online MBA students last year had an average undergraduate GPA of 3.066. Last year, the University of Louisiana–Monroe admitted 84% of online MBA applicants, and students need to complete 30 credits to graduate.
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The University of Louisiana–Monroe doesn’t require GMAT or GRE scores for admission to its online MBA program, and letters of recommendation are also not required...
GMAT or GRE scores aren’t required for admission to Dakota Wesleyan University’s online MBA program. The school also does not require letters of recommendation, but international students need to submit TOEFL scores of at least 71. Last year, Dakota Wesleyan University admitted 94% of applicants to its online MBA program. Admissions are made on a rolling basis, and Dakota Wesleyan University currently enrolls 61 online MBA students.
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GMAT or GRE scores aren’t required for admission to Dakota Wesleyan University’s online MBA program...
Prospective students applying to Auburn University–Montgomery’s online MBA program don’t have to submit test scores if they have an undergraduate GPA of 3.0 or higher, or have a graduate degree. Those applicants with a GPA between 2.75 and 2.99 may be admitted into the program, but they are required to earn a 3.0 GPA during the first 12 credit hours in the program. Letters of recommendation are not required, but international students must submit TOEFL scores of at least 76. The program has 29 students currently enrolled, and incloming online MBA students had an average undergraduate GPA of 3.1.
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Prospective students applying to Auburn University–Montgomery’s online MBA program don’t have to submit test scores if they have an undergraduate GPA of 3...
UNC Kenan-Flagler’s top-ranked online MBA is a top choice for experienced professionals with strong undergraduate performance. You can earn your degree at your own pace—in 18 to 36 months—without sacrificing academic quality and rigor. Access lifelong career benefits and join a global community of over 42,000 alumni with an AACSB-accredited online MBA from UNC-Chapel Hill. GMAT waivers available. Learn more today.
UNC Kenan-Flagler’s top-ranked online MBA is a top choice for experienced professionals with strong undergraduate performance...
GRE and GMAT scores aren’t required nor considered with applications to Shippensburg University of Pennsylvania (Grove)’s online MBA program. TOEFL scores are required from international students seeking to apply. Last year, the acceptance rate to the program was 90% and the average undergraduate GPA for incoming students was 3.17. The program’s one-year retention rate is 70%, and currently 141 online MBA students are enrolled.
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GRE and GMAT scores aren’t required nor considered with applications to Shippensburg University of Pennsylvania (Grove)’s online MBA program...
Southern Utah University’s online MBA program allows prospective students to complete a waiver to fulfill testing requirements. Last year, students admitted to the online program had an average undergraduate GPA of 3.3 and the acceptance rate was 89.5%. Students are required to complete a minimum of 33 credits to graduate, and no letters of recommendation are required.
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Southern Utah University’s online MBA program allows prospective students to complete a waiver to fulfill testing requirements...
The University of Central Missouri (Harmon) doesn’t require standardized test scores from applicants to its online MBA program. Last year, incoming students had an average undergraduate GPA of 3.4 and the acceptance rate was 57%. Within three years of starting the program, 64% students had graduated. No letters of recommendation are required and incoming online MBA students and students complete 33 credits to graduate.
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The University of Central Missouri (Harmon) doesn’t require standardized test scores from applicants to its online MBA program...
The University of Alabama, Birmingham’s online MBA program waives test score requirements for qualified applicants with relevant work and academic experience. However, scores are considered if applicants submit then. The acceptance rate was 80.8% and the program had a one-year retention rate of 82%. Last year, incoming online MBA students had an average undergraduate GPA of 3.13.
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The University of Alabama, Birmingham’s online MBA program waives test score requirements for qualified applicants with relevant work and academic experience...
No letters of recommendation are required to apply to Morehead State University’s online MBA degree program. Last year, incoming students had an average undergraduate GPA of 3.4 and the acceptance rate was 62.5%. Students must complete 30 credits to graduate. GMAT or GRE scores must be submitted to apply, but there are waivers available for those who qualify.
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No letters of recommendation are required to apply to Morehead State University’s online MBA degree program...
Skip the GMAT and earn a world-class MBA online from Syracuse University’s AACSB-accredited Martin J. Whitman School of Management. The program features a rigorous curriculum with six career-focused specializations. Upon graduation, 59% of graduates report receiving a raise or promotion.
Skip the GMAT and earn a world-class MBA online from Syracuse University’s AACSB-accredited Martin J...
The University of Southern Mississippi’s online MBA program doesn’t require GMAT or GRE scores from applicants, but three letters of recommendation are required. Incoming students had an average undergraduate GPA of 3.5 and an average of 13 years of work experience. Students are required to complete 33 credits to graduate and the acceptance rate was 75% last year. Within three years of beginning the program, 89% of students had graduated.
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The University of Southern Mississippi’s online MBA program doesn’t require GMAT or GRE scores from applicants, but three letters of recommendation are required...
Incoming students to Campbellsville University’s online MBA program had an average undergraduate GPA of 3.26 last year. The acceptance rate to the private university was 55%, and applicants aren’t required to submit a GMAT score. The program has a one-year retention rate of 100% and currently has 62 students enrolled, who are required to complete 36 credits to graduate.
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Incoming students to Campbellsville University’s online MBA program had an average undergraduate GPA of 3...
The University of North Carolina–Wilmington Cameron School of Business’s online MBA program currently enrolls 623 students. The program is waiving GMAT and GRE requirements due to the COVID-19 pandemic. Among admitted students, the average undergraduate GPA was 3.28 and the average reported GMAT score was 503. Last year, the acceptance rate into the public university’s online program was 87% and students must complete 36 credits to graduate.
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The University of North Carolina–Wilmington Cameron School of Business’s online MBA program currently enrolls 623 students...
Applicants to Fayetteville State University’s online MBA program must submitt two letters of recommendation and either a GMAT or GRE score, but some people may qualify for a waiver. Last year, the acceptance rate into the university’s online program was 55%, and the program has a one-year retention rate of 85%. Incoming students had an average undergraduate GPA of 3.2 and eight years of work experience.
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Applicants to Fayetteville State University’s online MBA program must submitt two letters of recommendation and either a GMAT or GRE score, but some people may qualify for a waiver...
Applicants to Lindenwood University’s online MBA program aren’t required to submit GMAT or GRE scores, and letters of recommendation also aren’t required. The acceptance rate was 89% last year and 70% of students graduate the program within three years of starting. Incoming online MBA students had an average undergraduate GPA of 3.34 and an average of six years of work experience.
Courtesy of Lindenwood University
Applicants to Lindenwood University’s online MBA program aren’t required to submit GMAT or GRE scores, and letters of recommendation also aren’t required...
UNC Kenan-Flagler’s top-ranked online MBA is a top choice for experienced professionals with strong undergraduate performance. You can earn your degree at your own pace—in 18 to 36 months—without sacrificing academic quality and rigor. Access lifelong career benefits and join a global community of over 42,000 alumni with an AACSB-accredited online MBA from UNC-Chapel Hill. GMAT waivers available. Learn more today.
UNC Kenan-Flagler’s top-ranked online MBA is a top choice for experienced professionals with strong undergraduate performance...
Applicants to the University of Maine’s online MBA program with five or more years of experience in professional leadership roles or U.S. military service may request a GMAT test waiver. Additionally, no letters of recommendation are required. Students must complete 30 credits to graduate. Incoming online MBA students had an average undergraduate GPA of 3.33 and last year, the acceptance rate into the university’s online program was 85%.
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Applicants to the University of Maine’s online MBA program with five or more years of experience in professional leadership roles or U...
Currently, the University of Massachusetts, Lowell’s online MBA program is waiving its GMAT or GRE score requirement for applicants, but three letters of recommendation are required. Students are required to complete 30 credits to graduate and applicants had an average undergraduate GPA of 3.43. Last year, the acceptance rate into the online program was 88%.
Blake Nissen—The Boston Globe/Getty Images
Currently, the University of Massachusetts, Lowell’s online MBA program is waiving its GMAT or GRE score requirement for applicants, but three letters of recommendation are required...
Skip the GMAT and earn a world-class MBA online from Syracuse University’s AACSB-accredited Martin J. Whitman School of Management. The program features a rigorous curriculum with six career-focused specializations. Upon graduation, 59% of graduates report receiving a raise or promotion.
Skip the GMAT and earn a world-class MBA online from Syracuse University’s AACSB-accredited Martin J...
Which is the best budget online MBA?
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.
What is the average cost of an online MBA?
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.
