2020 Most Affordable Online Colleges for MBA Programs

2020 Most Affordable MBA Masters Degrees Badge

With a median annual tuition rate of $7,500, the 25 colleges listed on this page offer the most affordable online MBA programs. Graduates of these programs have the opportunity to enter a growing field with a high salary potential. Of all the major occupational groups tracked by the U.S. Bureau of Labor and Statistics, management occupations have the highest median annual wage at $105,660. The bureau also expects 505,000 new management positions to emerge over the next decade. On this page, we've included information about common courses and concentrations, answers to frequently asked questions about online MBA degrees, and funding options for students.

You can read more about our ranked schools below or browse our rankings of the most affordable online master's programs. View our methodology or learn more about OnlineU.

Find an Online Degree:
OnlineU is supported by advertising. Schools that compensate us advertise via school search results and featured placements. This does not influence our college rankings or our content.
All tuition numbers were manually collected and verified
Rank School Annual Tuition
# 1 #1 $3,855
# 2 #2 $4,395
# 3 #3 $4,485
# 4 #4 $4,770
# 5 #5 $5,037
# 6 #6 $5,100
# 7 #7 $5,400
# 8 #8 $5,434
# 9 #9 $5,561
# 10 (tie) #10 (tie) $5,610
# 10 (tie) #10 (tie) $5,610
# 12 #12 $5,670
# 13 #13 $5,776
# 14 #14 $5,838
# 15 (tie) #15 (tie) $5,850
# 15 (tie) #15 (tie) $5,850
# 17 #17 $5,874
# 18 #18 $6,075
# 19 #19 $6,205
# 20 (tie) #20 (tie) $6,300
# 20 (tie) #20 (tie) $6,300
# 22 #22 $6,412
# 23 #23 $6,480
# 24 #24 $6,484
# 25 #25 $6,545
Find an Online Degree:
OnlineU is supported by advertising. Schools that compensate us advertise via school search results and featured placements. This does not influence our college rankings or our content.
  • Annual Tuition: $3,855
  • School Type: Non-Profit
  • School Accreditation: SACS COC
  • Total Graduate Enrollment: 440
  • Example Classes: HR Management; International Business; Managerial Control; Managerial Economics; Marketing Management; Strategic Management

Online Master's Degrees

  • Master of Business Administration
  • Annual Tuition: $4,395
  • School Type: Non-Profit
  • School Accreditation: SACS COC
  • Total Graduate Enrollment: 2,511
  • Example Classes: Entrepreneurship; Global and International Business; Human Behavior in Organizations; Managerial Accounting; Operations and Supply Chain Management

Online Master's Degrees

  • Master of Business Administration - Georgia WebMBA
  • Master of Business Administration - Healthcare Administration
  • Annual Tuition: $4,485
  • School Type: For-Profit
  • School Accreditation: DEAC
  • Total Graduate Enrollment:
  • Example Classes: Financial Management; Human Resource Management; International Business Management; Management Information Systems; Marketing Management; Organizational Behavior

Online Master's Degrees

  • M.B.A
  • M.B.A. Business Marketing
  • M.B.A. Health Care Management
  • M.B.A. Human Resource Management
  • M.B.A. Management
  • Annual Tuition: $4,770
  • School Type: Non-Profit
  • School Accreditation: SACS COC
  • Total Graduate Enrollment: 993
  • Example Classes: Accounting & Finance for Managers; Ethics for Decision Making; Management Processes & Information Systems; Market Structure & Competitive Analysis; Statistical Analysis; Strategic Management

Online Master's Degrees

  • Master of Business Administration - Accounting
  • Master of Business Administration - General Business
  • Master of Business Administration - International Business
  • Master of Business Administration - Management
  • Master of Business Administration - Project Management
  • Master of Business Administration - Strategic Leadership
  • Annual Tuition: $5,037
  • School Type: Non-Profit
  • School Accreditation: SACS COC
  • Total Graduate Enrollment: 2,653
  • Example Classes: Data and Information Management; Financial Management of Biotechnology and Health Care; Project Management for the Enterprise; Quantitative Analysis in Business; Seminar in Evolutionary Marketing; Seminar in Organizational Behavior

Online Master's Degrees

  • Master of Business Administration
  • Master of Business Administration - Computer Information Systems
  • Master of Business Administration - General Business
  • Master of Business Administration - Healthcare Management
  • Master of Business Administration - Management
  • Master of Business Administration - Marketing
  • Annual Tuition: $5,100
  • School Type: Non-Profit
  • School Accreditation: SACS COC
  • Total Graduate Enrollment: 214
  • Example Classes: Contemporary Economic Issues; Management Information Systems; Managerial & Leadership Analysis; Marketing for Results

Online Master's Degrees

  • Master of Business Administration
  • Annual Tuition: $5,400
  • School Type: Non-Profit
  • School Accreditation: SACS COC
  • Total Graduate Enrollment: 370
  • Example Classes: Accounting Analysis for Decision Making; Business Policy and Strategic Managment; Economics for Mangers; Municipal Accounting; Organizational Behavior and Effectiveness; Quantitative Methods for Managers

Online Master's Degrees

  • Master of Business Administration
  • Annual Tuition: $5,434
  • School Type: Non-Profit
  • School Accreditation: HLC
  • Total Graduate Enrollment: 2,772
  • Example Classes: Business Decision Making and Analysis; Consumer Decision-making Process; International Business and Competitiveness; Law and Ethics for Business; Operations Management; Organizational Behavior

Online Master's Degrees

  • Master of Business Administration
  • Master of Business Administration - Health Care Administration
  • Master of Business Administration - Human Resource Management
  • Master of Business Administration - Marketing
  • Annual Tuition: $5,561
  • School Type: Non-Profit
  • School Accreditation: HLC
  • Total Graduate Enrollment: 658
  • Example Classes: Decision Science; Financial Administration; Management Accounting; Managerial Communications; Managerial Economics; Marketing Administration

Online Master's Degrees

  • Master of Business Administration
  • Master of Business Administration - Public Accounting
  • Annual Tuition: $5,610
  • School Type: Non-Profit
  • School Accreditation: HLC
  • Total Graduate Enrollment: 3,559
  • Example Classes: Advanced Financial Management; Management Information Systems; Marketing Management; Organization Strategy and Policy; Organizational Behavior; Quantitative Methods in Business Decision Making

Online Master's Degrees

  • Master of Business Administration
  • Annual Tuition: $5,610
  • School Type: Non-Profit
  • School Accreditation: HLC
  • Total Graduate Enrollment: 1,752
  • Example Classes: Accounting for Management Decisions; Financial Decision Making; Information Technology for Managers; Marketing Strategy; Operations Management; Strategic Management

Online Master's Degrees

  • Master of Business Administration
  • Master of Business Administration - Finance
  • Master of Business Administration - Health Care Administration
  • Master of Business Administration - Information Management
  • Master of Business Administration - International Business
  • Annual Tuition: $5,670
  • School Type: For-Profit
  • School Accreditation: DEAC
  • Total Graduate Enrollment: 5,859
  • Example Classes: Advanced Marketing; Business Ethics; International Business; Management Information Systems; Organizational Research and Theory; Strategic Management & Business Policy

Online Master's Degrees

  • Master of Business Administration
  • Master of Business Administration-Entrepreneurship
  • Master of Business Administration-Finance
  • Master of Business Administration-Health Care Management
  • Master of Business Administration-Human Resource Management
  • Master of Business Administration-Marketing
  • Annual Tuition: $5,776
  • School Type: Non-Profit
  • School Accreditation: HLC
  • Total Graduate Enrollment: 1,748
  • Example Classes: Applied Business forecasting and Planning; Corporate Financial Reporting and Analysis; Corporate Information Systems; Decision Making for Global Markets; Economics for Managers; Financial Management: Theory and Practice

Online Master's Degrees

  • Bachelor of Business in Accountancy/Master of Business Administration
  • Bachelor of Business in Economics/Master of Business Administration
  • Bachelor of Business in Management/Master of Business Administration
  • Bachelor of Business in Supply Chain Management/Master of Business Administration
  • Bachelor of Science in Law Enforcement and Justice Administration/Master of Business Administration
  • Master of Business Administration
  • Annual Tuition: $5,838
  • School Type: Non-Profit
  • School Accreditation: HLC
  • Total Graduate Enrollment: 1,305
  • Example Classes: Accounting for Managers; Law, Ethics and Social Responsibility; Managerial Economics; Managerial Finance; Managerial Research Analysis; Strategic Management

Online Master's Degrees

  • Master of Business Administration
  • Master of Business Administration in Accounting
  • Annual Tuition: $5,850
  • School Type: For-Profit
  • School Accreditation: DEAC
  • Total Graduate Enrollment: 2,035
  • Example Classes: Business Ethics; Business Finance; Management; Managerial Accounting; Managerial Economics; Strategies for Change

Online Master's Degrees

  • M.B.A.
  • M.B.A. in Finance
  • M.B.A. in Information Management
  • M.B.A. in Project Management
  • Annual Tuition: $5,850
  • School Type: For-Profit
  • School Accreditation: WSCUC
  • Total Graduate Enrollment: 717
  • Example Classes: Cross-Cultural Management; Managing Organizational Change and Innovation; Marketing Strategy; Operations Management and Decision Models; Project Management Essentials; Talent Acquisition, Performance, and Behavior

Online Master's Degrees

  • Master of Business Administration
  • Master of Business Administration - Business Analytics
  • Master of Business Administration - Finance
  • Master of Business Administration - Human Resources
  • Master of Business Administration - Information Technology
  • Master of Business Administration - International Business
  • Annual Tuition: $5,874
  • School Type: Non-Profit
  • School Accreditation: SACS COC
  • Total Graduate Enrollment: 730
  • Example Classes: Advanced Applied Business Statistics; Cost Analysis and Control; Current Issues in Organizational Behavior; Financial Administration; Information Technology Management; Seminar in Marketing 

Online Master's Degrees

  • Master of Business Administration
  • Master of Business Administration - Accounting
  • Master of Business Administration - Energy Management
  • Annual Tuition: $6,075
  • School Type: Non-Profit
  • School Accreditation: SACS COC
  • Total Graduate Enrollment: 485
  • Example Classes: Business Policy and Strategy; Financial Institutions; Futures, Options and Other Derivative Securities; Marketing Analysis; Organizational Behavior and Development; Tax Planning for Management Decisions

Online Master's Degrees

  • Executive Master of Business Administration in Gaming and Hospitality Management
  • Master of Business Administration
  • Annual Tuition: $6,205
  • School Type: Non-Profit
  • School Accreditation: HLC
  • Total Graduate Enrollment: 1,030
  • Example Classes: Acquiring & Compensating Talent; Improving Team Performance; Integrated Decision Information Systems; International Business Strategies; Strategic Cost Management; Topics in Entrepreneurship

Online Master's Degrees

  • Master of Business Administration
  • Master of Business Administration - General Management
  • Master of Business Administration - Health Administration
  • Master of Business Administration - Sport Management
  • Annual Tuition: $6,300
  • School Type: For-Profit
  • School Accreditation: DEAC
  • Total Graduate Enrollment: 170
  • Example Classes: Business Ethics; Management; Managerial Accounting; Managerial Economics; Marketing Management; Strategies for Change

Online Master's Degrees

  • Master of Business Administration (MBA)
  • Master of Business Administration (MBA) - Concentration in Coaching
  • Master of Business Administration (MBA) - Concentration in Power Generation Management
  • Annual Tuition: $6,300
  • School Type: For-Profit
  • School Accreditation: DEAC
  • Total Graduate Enrollment: 1,352
  • Example Classes: Business Ethics; eBusiness; Management; Marketing Management; Quantitative Analysis; Strategies for Change

Online Master's Degrees

  • Master of Business Administration
  • Master of Business Administration - Information Management
  • Master of Business Administration - Project Management
  • Annual Tuition: $6,412
  • School Type: For-Profit
  • School Accreditation: MSCHE
  • Total Graduate Enrollment: 224
  • Example Classes: Human Capital Management; Human Resource Law; Legal Aspects of Management; Managing Change; Managing Organizational Diversity; Project Management Structure and Culture

Online Master's Degrees

  • Master of Business Administration
  • Master of Business Administration - Accounting
  • Master of Business Administration - Finance
  • Master of Business Administration - Geospatial Intelligence
  • Master of Business Administration - Health Care Administration
  • Master of Business Administration - Hospitality and Tourism
  • Annual Tuition: $6,480
  • School Type: Non-Profit
  • School Accreditation: HLC
  • Total Graduate Enrollment: 1,367
  • Example Classes: Entrepreneurial Planning and Design; Financial Decisions; Human Resources & Organizational Behavior; Legal Environment of Business, Goverment and Society; Management Systems; Managerial Ethics

Online Master's Degrees

  • Master of Business Administration
  • Master of Business Administration - Global Business
  • Master of Business Administration - Small Business
  • Annual Tuition: $6,484
  • School Type: Non-Profit
  • School Accreditation: SACS COC
  • Total Graduate Enrollment: 1,090
  • Example Classes: Analytical Models for Decision-Making; Business Research Methods; Financial Management; International Business; Legal Environment of Business; Strategic Management

Online Master's Degrees

  • MBA
  • MBA - Finance Concentration
  • Annual Tuition: $6,545
  • School Type: Non-Profit
  • School Accreditation: SACS COC
  • Total Graduate Enrollment: 441
  • Example Classes: Accounting for Managerial Decision Making; Corporate Finance; Decision Making Under Uncertainty; Global Strategic Management; Innovation and Design Thinking; Leadership and Organizational Behavior

Online Master's Degrees

  • Master of Business Administration
  • Master of Business Administration in Accounting
  • Master of Business Administration in Digital Marketing
  • Master of Business Administration in General Business
  • Master of Business Administration in Human Resource Leadership
  • Master of Business Administration in International Business

Common MBA Courses and Concentrations

The following are a list of common core courses for an online MBA degree. Many of these can be taken either as a standalone course or as a concentration.

  • Finance: Sometimes referred to as managerial finance, finance is a required course in most online MBA degree programs. Coursework focuses on the practical application of financial concepts, enabling future managers to make sound financial decisions. Topics covered include financial analysis, capital investment decisions, and the valuation of financial and real assets. The curriculum for an MBA with a concentration in finance might include core and elective courses in financial markets, quantitative modeling, and fintech (the application of technology to financial services).
  • Financial Accounting: At the master’s degree level, students taking this course learn to interpret numbers, evaluate the financial health of an organization, and predict likely outcomes for financial decisions. The program curriculum for a specialization in financial accounting includes courses in managerial accounting, taxation, and auditing. In some cases, the curriculum is designed to prepare students to become Certified Public Accountants (CPAs). According to PayScale, CPAs earn anywhere from $56,000 to $140,000 annually.
  • International Business: International business provides a broad survey of key concepts such as cultural and political forces, world economics, theoretical frameworks, and government involvement in business. Students pursuing an MBA in international business will study management, economics, finance, and marketing from the perspective of global organizations. Some programs may offer elective courses in business law, supply chain management, cultural studies, or global operations, and may require a capstone project.
  • Management Information Systems: A class in management information systems covers IT hardware and software, network administration, database administration, and telecommunications. People interested in assuming leadership roles in the field of technology may consider a concentration in this topic. The curriculum combines many elements of a general MBA program with specialized IT courses. The median annual salary for IT managers in 2019 was $146,360, according to the Bureau of Labor Statistics.
  • Marketing Management: The fundamentals of marketing are intertwined with many other facets of an organization’s operations, and this course offers students a broad overview of marketing management principles. Topics include strategic planning, buyer behavior, target markets, positioning, and pricing. Students pursuing an MBA in marketing may be required to take 12 or more credit hours of courses such as consumer behavior and market data analysis. According to the Bureau of Labor Statics, the current median annual salary for a marketing manager is about $136,000.
  • Operations Management: Operations management (OM) involves the systems and processes used to produce and deliver goods and services. Online OM courses focus on applying concepts like data analytics, lean management, and quality management to improving an organization’s operations. Students pursuing an OM concentration will also study topics such as supply chain management, forecasting, process design, and strategy. According to the Bureau of Labor Statistics, operations managers typically earn six-figure incomes with median annual salaries near $123,000.
  • Organizational Behavior: Organizational behavior focuses on people—how they interact with each other and their work environments. In general, a class on organizational behavior will look at the impact individuals, groups, and organizational structures have on human behavior in the workplace. Among the many topics covered are motivation, conflict, leadership, and change management.

Funding an MBA Degree

Students returning to graduate school to enroll in online MBA programs typically have the same financial aid options available to them as students of other programs. Financial aid types that do not have to be repaid, such as grants, scholarships, fellowships, and work-study programs, are preferred. If necessary, however, online students enrolled in reputable schools can consider applying for low-interest federal or private loans.

Some MBA students may also be eligible for full or partial tuition reimbursement programs through their employers. These programs may entail meeting certain criteria, such as maintaining minimum GPA requirements or committing to remain with the organization for a specified amount of time after completing the MBA. Some individuals who are currently or were formerly employed by the U.S. armed forces may also qualify for financial aid through scholarships, such as Military MBA Scholarships, or tuition discounts in honor of their military service.

Among the many scholarships and fellowships available to applicants pursuing online MBA degrees are the Golden Key Graduate Scholar Award and the Mary Elizabeth Lockwood Beneventi MBA Scholarship, which are open to all MBA students. Some private and professional organizations also extend funding to applicants who fit a certain demographic profile. The Forte Foundation, for example, offers MBA scholarships to women, and the Paul and Daisy Soros Fellowships for New Americans provides funding to immigrants and children of immigrants. Many scholarships offer awards in the range of $1,500 to $5,000, and these can be combined with other scholarships or forms of financial aid to offset the total cost of online education.


Frequently Asked Questions About Affordable Online MBAs

What is the cost of earning an MBA?

The cost of earning an MBA varies significantly depending on tuition rates and other factors. Students may consider an online program to help with affordability, as many schools charge lower in-state tuition rates for online students.

In some cases, students choosing a part-time course of study or needing to complete several prerequisites may extend the amount of time spent earning a degree from two years to three or four years, which may increase the total cost. Other factors to consider are fees charged to online students, such as technology fees, equipment rental, and physical or ebook purchase or rental programs.


What are the benefits of earning an MBA?

According to the National Center for Education Statistics, an MBA is the most popular of all master’s degree programs. Recent statistics available from the 2017-2018 school year show that more than 192,000 people earned MBAs in that year alone, a number that continues to increase. Earning an MBA degree equips graduates with specialized knowledge and skills that may give them a competitive edge in the job market.

Some business school students opt to study a particular area of concentration. Healthcare, marketing, and finance are the most popular specializations, followed by accounting, management, international business, supply chain management, and business analytics. Regardless of the type of MBA, one of the benefits of an online graduate degree is the potential to earn a higher income. PayScale shows that MBA graduates earn an average salary of $88,974, as compared to the average of $63,875 for bachelor’s degree holders.

Another significant benefit is the development of a network of people that can help with future job prospects. MBA students have the potential to establish valuable relationships with peers and faculty during the course of their studies. Later, when conducting job searches, they may be able to take advantage of relationships that their schools have developed with local businesses.

Our sister site provides additional insights into the value of online MBA programs, including career prospects for graduates, the quality of online and in-person programs, and the cost of an online MBA.


What factors should I consider when choosing an online MBA program?

Many factors go into selecting the best online MBA program for a student’s individual needs. For many, tuition is the most important consideration, but during a school search, students may also want to research each school’s financial aid options and other student resources. Additionally, students often select a school that offers the particular concentration or elective courses they are interested in pursuing to achieve their professional goals.

Students may have a preference for how their online courses are delivered. Some programs offer hybrid course delivery, with requirements completed online and in person. Other programs are fully online. In addition, students may have a preference about the style of their individual courses. Synchronous classes are live while asynchronous courses allow students to watch lectures and complete coursework on their own schedule.

Finally, accreditation is an important factor to consider. The Association to Advance Collegiate Schools of Business (AACSB) accredits online MBA programs and ensures that the curriculum and faculty meet predetermined standards of excellence in higher education.


Is it too late for me to go back and earn an MBA?

The right time to return to college is entirely dependent upon a person’s goals. Looking at return on investment (ROI), however, can help. ROI compares the amount of money a person is likely to earn by getting a degree to the amount of money spent on obtaining that degree. Younger college students can typically expect a higher ROI after completing a full-time MBA program. Once they return to the workforce, they have more years to leverage a graduate degree into career advancement and increase their earnings.

Professionals who earn their MBA at a later age may consider ROI more heavily, weighing how many more years they plan to be working and factoring that into potential earnings. Nevertheless, although the average starting age for all MBA students is 28, there is evidence to suggest that students in their 30s, 40s, and beyond are choosing to earn MBAs, especially through online programs.

For this reason, prospective students interested in pursuing an MBA while continuing full-time work may consider an Executive MBA program. Enrollment is usually limited to business professionals who’ve been in the workplace for at least five years. The accelerated coursework in these programs is specifically designed to capitalize on students’ first-hand work experience and contribute to their career goals.

There are additional factors to consider beyond ROI. A later-in-life degree may allow someone to pivot their career into something more rewarding and fulfilling. Further, some individuals are motivated to earn a graduate degree for the sake of specialized knowledge, personal interest, and a sense of accomplishment.