In searching for an online Master of Business Administration program, one of the first things prospective students want to know is how much it will cost. Tuition rises regularly at U.S. private universities and public universities. In fact, the Education Data Initiative reports that college tuition increased nearly 750% between 1963 and 2022, after adjusting for inflation. Of course, tuition increase figures over the last decade are not quite as dramatic, but the cost of college still trends upward.
The good news is that Texans do not have to look far to find an affordable MBA program. Better yet, those who enroll in an online MBA program from Texas A&M International University (TAMIU) will benefit from additional savings and can continue to work while completing their degree.
What Is the Average Cost of an Online MBA?
The price tag for an online MBA varies as much as on-campus programs, ranging from less than $10,000 to upwards of $200,000.
The average graduate tuition and required fees in 2021-2022 for postsecondary institutions was $20,513 per year, according to the National Center for Education Statistics. The average cost was $12,596 per year for public schools and $28,017 per year for private schools. Graduate programs typically take two years to complete, placing the average cost of a full-time graduate degree in 2021-2022 at $25,192 for public institutions and $56,034 for private institutions.
The online model can help students save on costs in numerous ways. Online classes are generally exempt from on-campus facility fees. Students with parenting duties can study at their convenience and save on the childcare costs incurred while attending on-campus programs. Students save on commuting costs, as they can complete their studies from anywhere with internet. Online students also can avoid the costly — and often inflated — room and board expenses associated with on-campus programs. When students enroll in an online MBA program, they mainly pay for the classes and books, if applicable.
Plus, one of the most expensive aspects of traditional, on-campus programs is the opportunity cost, in this case being the income from work and other opportunities a student must give up attending scheduled courses in person. In an online program, students have the flexibility to continue working and making a living while earning their degree — a vital component of securing a rapid return on investment in one’s education.
Affordable Online MBA Program in Texas
TAMIU offers steeply discounted tuition for in-state students enrolled in the school’s online MBA programs. Students pay by the course, with per-credit-hour tuition costing a fraction of what many other Texas universities charge. Further, determined students can complete the accelerated programs in as few as 12 months, allowing them to put their degree to work quickly.
TAMIU currently offers six online MBA programs:
- MBA in Management
- MBA in International Banking and Finance
- MBA In International Business
- MBA in International Trade and Logistics
- MBA in Criminal Justice
- MBA in Healthcare Administration
TAMIU’s 100% online MBA programs are accredited by the Association to Advance Collegiate Schools of Business (AACSB).
Hazlewood Act for Qualified Veterans and Their Family Members
Another savings option for Texas residents is the Hazlewood Act, which provides qualified and eligible veterans, their spouses and dependent children with up to 150 hours of tuition exemption at public higher education institutions in Texas. TAMIU’s Veterans Affairs Office can help students navigate various tuition assistance options for veterans.
In addition, because TAMIU’s online MBA programs are fully accredited, students can search and apply for numerous other financial aid opportunities, from grants and scholarships to low-interest loans. With affordable in-state tuition, access to funding sources and many financial benefits, TAMIU’s accelerated online MBA programs provide an excellent path toward an advanced business education for the cost-conscious student.
Learn more about Texas A&M International University’s online MBA programs.
