Articles

Why MBAs Are Significantly Less Expensive From Online Schools

2011-07-05

Education is expensive, that is a fact of life that the new generation has to get used to know. The average cost of a bachelor's degree in the United States is $25,000 per year at a private college, and $6,000 per year at a public university. Around 40% of all students pay anywhere from $9,000-$30,000 a year and the prices are said to be rising. Although the United Kingdom had placed the maximum charge for Universities at £3,290 a year ($5,268), this is set to rise in 2012 to £9,000 ($14,411). An MBA, which is a Masters of Business Administration, costs $40,000 a year on average. Students who are eager to save money are now considering an online MBA school, as this less expensive MBA option has recently become very appealing.

Online MBA degrees are much cheaper. A regionally accredited school charges an average of around $22,900 for the entire program. A university that is accredited by the AACSB (Association to Advance Collegiate Schools of Business) costs an average of around $32,000. This is in stark contrast to the average University charges of $80,000-$100,000 (for the entire program). There are several reasons that distance learning is a cheaper alternative. Those who have looked over University charges will note that, besides tuition, the charges also include maintenance and utility charges for the entire building and all of its facilities. Running a University is not cheap, and the burden is upon the student to pay for it.

Tuitions themselves are costly, and include the Professor's salary, which is around $73,000 over a 9 month period. Books and reading materials are very expensive too, costing around $120-$150 per book. Attending a University means that a lot of money will have to be spent on conveyance. Alternatively one could choose to live on campus; however, this is an expensive choice in itself. On the other hand, online schools do not charge students for building and structure costs, tuition charges are significantly lower, textbooks are cheaper (usually being in an electronic format) and there is no need to spend money on either conveyance or boarding.

There are other advantages to attending an online MBA School, besides the obvious cost difference. Studying at home affords one the opportunity to be able to work at their own pace, especially if they keep irregular schedules. Online universities offer a lot of their media content in a format which can be comfortably viewed on a Smartphone or the iPad. These less expensive MBA courses are recognized around the United States and are a simple alternative to regular college.