Top 25 Most Affordable Online MBA Programs for 2020



Students who are looking for the most affordable online MBA degrees can find some good deals if they know where to look and what resources are available to them. Earning an online degree makes it easy for a student to continue working at the same time they are continuing their education. MBA degree programs can be costly so finding ways to cut the cost is essential especially if you have other bills to pay. Many schools may offer a discount to students who are interested in pursuing their degrees online.

Value Colleges’ Top 5 Most Affordable Online MBA Programs are:

  • 1. Fayetteville State University
  • 2. Fort Hays State University
  • 3. Valdosta State University
  • 4. West Texas A&M University
  • 5. Southeast Missouri State University

Grants and scholarships are great ways to defray the cost of even the most affordable degree programs. Applying for multiple grants and scholarships is a great way to cut the cost of even the most affordable MBA degrees. Scholarships and grant programs offer single or multiple year gifts depending on the amount of money that is offered and how many years the gifts will be given per recipient. In some cases, scholarships and grants may offer gifts large enough to pay for all or at least the majority of your college expenses. Applying for several grants and scholarships at once will increase your chances of receiving assistance.

Employer reimbursement programs are also good ways to cover all or part of your educational costs. If you need assistance in paying for your college expenses, contact your employer. Companies who are trying to keep their employees on staff will often consider paying for at least a part of the educational costs they incur if they are wanting to return to school to earn their MBA. In order to participate in this type of reimbursement program, the student must carry a set grade point average and successfully complete the requirements of the agreement.

Methodology: Ranking the Most Affordable Online MBA Programs

For business students looking for the lowest-risk investment in an MBA program, Value Colleges editors researched online and hybrid programs from accredited, trusted colleges and universities across the US. With the many possible choices, we ranked programs according to one simple metric: tuition cost, according to current IPEDS data. 

1. Fayetteville State University

Fayetteville State University’s Broadwell College of Business & Economics offers an MBA – a Master of Business Administration program that is considered among the best affordable online MBA programs by the college ranking service – The Best Masters Degree. FSU’s affordable online MBA programs offer degree candidates several academic concentrations – Entrepreneurship, Data Analytics, International Business, Healthcare Management, Finance, General Business, Project Management, Marketing, Supply Chain Management, and Management. FSU’s MBA online program consists of 27 credit units.

Fayetteville State University is an HBCU and member school of the Thurgood Marshall College Fund that was established in 1867. The school’s 200-acre campus is home to more than 6,000 students. The school offers more than 65 undergraduate and graduate degree programs. Fayetteville State University holds the distinction as the 2nd oldest state supported institution of higher education in the Tar Heel state.

Degree: [email protected]

2. Fort Hays State University

Fort Hays State University offers a Master of Business Administration (MBA) degree program that is considered one of the most affordable online MBA programs available in the education marketplace. These best affordable online MBA programs from FHSU requires degree candidate to complete 34 credit units to meet graduation requirements. MBA students have the option of academic tracks including finance, accounting (on campus only), marketing, tourism, leadership, information systems, healthcare management human resources, information assurance, international business, sports management, and digital marketing.

Fort Hays State University (FHSU) was founded in 1902 as an agricultural school but soon became a teacher training school. The school’s campus is situated on a former military outpost only a few miles to the business district of Hays, KS. The university’s enrollment exceeds 16,000 students. Fort Hays State University operates a Museum of National History on campus with more than 3.5 specimens.

Degree: Online MBA

3. Valdosta State University

Valdosta State University’s Langdale College of Business offers a Master of Business Administration (MBA) degree program that GetEducated.com ranks among the best affordable online MBA programs in the nation. The online MBA program from Valdosta State University is has received accreditation from the AACSB. Degree candidates must finish 30 credit hours (over ten business classes) to meet the program’s requirements. Among the most affordable online MBA programs, VSU offers students an opportunity to finish the MBA program in only twelve months. GMAT scores are required for admission to Valdosta State University’s MBA program.

Valdosta State University is a public institution of higher education that was founded in 1906 as a teacher’s college. The university’s campus covers more than 150 acres and serves more than 11,100 students. Valdosta State University offers classes in at the Air Force base north of Lowndes County

Degree: Georgia webMBA

4. West Texas A&M University

West Texas A&M University’s Engler College of Business offers a Master of Business Administration (MBA) degree program that is recognized and accredited by the AACSB as one of the best affordable online MBA programs in the country. WT’s affordable online MBA programs are ranked among the best online MBA programs by the Princeton Review, TFE, and US News. Students enrolled in West Texas A&M University will find they have five MBA concentrations – Marketing, Management, Health Care Management, General, and Computer Information Systems. 

West Texas A&M University was established in 1910 as a state university as a normal teacher’s school. More than 9,900 students are enrolled in West Texas A&M University vying for degrees offered by the six schools/colleges organized as WT. West Texas A&M University proudly boasts that famed artist Georgia O’Keefe as the university’s art department chair. 

Degree: MBA Online

5. Southeast Missouri State University

Southeast Missouri State University’s Harrison College of Business offers an all-online Master of Business Administration (MBA) degree program that has been accredited by the Association to Advance Collegiate Schools of Business. SEMO’s best affordable online MBA programs offer a traditional MBA track or an accelerated option. The affordable online MBA programs from Southeast Missouri State University offer students nine concentrations – Sports Management, Accounting, International Business, Entrepreneurship, Industrial management, Health Administration, Finance, and General Administration.

Southeast Missouri State University (Harrison) was established as a teacher training school in 1873. The school’s main campus covers more than 320 acres and services more than 11,000 students. Students attend SMSU on regional campuses in southeast Missouri in Malden, Sikeston, Poplar Bluff, and Kennett. The most recent campus addition is the River Campus, which includes a college of arts & media.

Degree: Online MBA

6. Sam Houston State University

Sam Houston State University offers an all-online Master of Business Administration (MBA) degree program that is considered among the most affordable online MBA programs in the nation. SHSU’s online MBA program requires degree candidates to finish 36 credit units to earn a graduate management degree. SHSU offers these best affordable online MBA programs with three starting dates in the Summer, Fall and Spring seasons. Coursework includes marketing, accounting, statistics, leadership, operations, and finance, to name a few.

Sam Houston State University was founded as a teacher’s college in 1879. Sam Houston State University’s campus is located in a college town and serves more than 21,100 students. Sam Houston State University operates a rodeo arena, an observatory, an 18 hole golf course, a body farm, and a planetarium. Sam Houston State University is the first university in Texas specifically built to train teachers.

Degree: Online MBA

7. Florida Atlantic University

Florida Atlantic University offers a Master of Business Administration (MBA) degree program that is available 100% online. US News recognizes FAU’s best affordable online MBA programs can be completed in under two years, with the completion of 40 to 46 credit units, depending on the academic track. These affordable online MBA programs offer concentrations in finance, tourism, health, marketing, international business, accounting, information systems, operations, and general coursework, among others.

Florida Atlantic University was founded in 1961 and was the first public institution of higher education in the southern portion of Florida. Florida Atlantic University is one of twelve member schools that make up the State University System of Florida. Florida Atlantic University Business programs have received accreditation from the Association to Advance Collegiate Business Schools. More than 29,000 students attend classes on the main Boca Raton campuses plus six satellite facilities. The school offers more than 175 undergraduate and graduate degree programs. Florida Atlantic University established the first College of Medicine in 2010.

Degree: Online MBA

8. Texas A&M University-Commerce

The Texas A&M University Commerce College of Business offers an online Master of Business Administration (OMBA) that is recognized by GetEducation.com as one of the nation’s best affordable online MBA programs. In addition, Texas A&M University’s most affordable online MBA programs are also accredited by the Association for the Advancement of Collegiate Schools of Business. The online program from A&M Commerce does not require a thesis and can be completed in less than 24 months.

Texas A&M University was established in 1in 1889 as a teacher’s training school. Texas A&M University Commerce is the 3rd largest campus within the Texas A&M University System. More than 12,300 students attend classes offered by Texas A&M University-Commerce. Texas A&M University (A&M) Commerce partners with Collin College and Navarro College to provide its coursework. Additionally, A&M operates facilities in Dallas and Mesquite.

Degree: Online MBA

9. University of Utah

The University of Utah’s Eccles School of Business offers a Master of Business Administration (MBA) degree program that is recognized as one of Utah’s best affordable online MBA programs. This program may be completed online, except for a three day residency when the program begins. Students enrolled in the University of Utah’s affordable online MBA programs typically complete this graduate business program in about 24 to 26 months, when taking two classes at a time. Additionally, students enrolled in this MBA program may choose to spend a week abroad in South Africa, China, Argentina, and Vietnam.

The University of Utah was founded in 1850 and is currently the state of Utah’s flagship institution of higher education. U of U is a space-grant university with an urban campus that covers more than 1,500 acres and serves nearly 33,000 students. The University of Utah was established several years before Utah was adopted as a state.

Degree: Online MBA

10. University of Nebraska – Lincoln

The University of Nebraska—Lincoln’s College of Business offers a Master of Business Administration (MBA) degree program that is ranked by Financial Times, Us News, and Poets/Quants among the best affordable online MBA programs in the country. These affordable MBA programs require degree candidates to complete 18 elective credit units plus 30 core credit units to graduate. Coursework for this graduate online business degree includes financial accounting, organizational behavior, economics, marketing, business policy, and analytics, among others.

The University of Nebraska—Lincoln was founded in 1869 under the Morrill Land Grant Act. This public university is the flagship, largest and oldest of the campuses within the University of Nebraska system. Approximately 25,700 students study for degrees offered by the university’s colleges/schools. The library system at the University of Nebraska—Lincoln is home to more than 3 million volumes.

Degree: [email protected]

11. University of North Dakota

The University of North Dakota’s Nistler College of Business and Public Administration offers an MBA – a Master of Business Administration that is recognized among the country’s best affordable online MBA programs by US News and Poets & Quants. In addition, UND’s affordable online MBA programs are accredited by the AACSB. This MBA program requires students to complete 34 credit hours, typically, in about 18 months. Students graduate and enter the workforce as project managers, accountants, financial analysts, business developers, and strategists, to name a few.

The University of North Dakota (UND) was established in 1883, more than half of a decade before North Dakota became a state. The school’s urban campus in Grand Forks serves more than 13,400 students. The University of North Dakota proudly boasts its status as the oldest institution of higher education in the state of North Dakota.

Degree: Online MBA

12. University of Mississippi

The University of Mississippi offers an online MBA program ranked among the country’s best affordable online MBA programs. The MBA program from Ole Miss has received accreditation from the AACSB and ranks among the nation’s top online graduate business programs. Students attending Ole Miss must complete 36 credit hours. Full time students generally finish in about a year, with part-time students usually completing the coursework in about 24 months.

The University of Mississippi (Ole Miss) was founded in 1848. The campus of the University of Mississippi Miss in rural Oxford (voted one of the top college towns in the United States)serves more than 23,100 students. Ole Miss is a sea-grant and space-grant university that also has campuses in Southaven, Grenada, Tupelo, and Booneville. The school’s teaching hospital in Jackson, MS, is recognized as the state’s largest medical center.

Degree: Online MBA

13. Mississippi State University

Mississippi State University’s College of Business offers an MBA – a Master of Business Administration degree program that is available 100% online. MSU’s best affordable online MBA programs are accredited by the Association for Advancement of Collegiate Schools of Business. It is noted that for the summer and fall terms of 2020, MSU is waiving the GMAT requirement. These affordable online MBA programs an MBA – a Master of Business Administration require degree candidates to complete 30 semester hours to meet the MBA program requirements.

Mississippi State University was established in 1878 under the Morrill Land Grant Act by the Mississippi legislature. Mississippi State University’s rural campus is home to more than 21,800 students studying for academic degrees offered by twelve schools/colleges. Mississippi State University is a member school of a consortium of academic institutions in the southeastern conference.

Degree: Online MBA

14. Liberty University

Liberty University’s School of Business offers a Master of Business Administration (MBA) degree program that has received accreditation from the ACBSP. LU’s best affordable online MBA programs offer a generous transfer credit policy that allows for up to 50% of the total MBA program requirements. Liberty University’s affordable online MBA programs require students to complete a total of 45 credit hours, typically in 24 months. Students enrolled in Liberty University’s MBA program have more than 20 degree concentrations from which to select.

Jerry Falwell Sr established liberty University in 1971. Liberty University’s campus in Lynchburg is home to more than 14000 students; however, another 94,000+ students attend classes through the school’s distance learning arm. Students attending this evangelical institution of higher education are required to comply with the school’s honor code. Liberty University plays an essential role in the republican political system in the United States.

Degree: Online MBA

15. Concordia University St. Paul

Concordia University St. Paul offers an online MBA – Master of Business Administration degree program that is ranked as one of the nation’s best affordable online MBA programs. Students enrolled in Concordia University–St. Paul’s affordable online MBA programs must complete 36 credit hours in classes like managerial finance, marketing, leadership and development, operations, accounting, and managerial decision analysis, to name a few. CSP’s MBA online program offers working learners the flexibility required to complete the degree on their own time and at their own pace.

Concordia University – St. Paul was established in 1893. Concordia University–St. Paul is a member school of the Concordia University System. It is noted that the LCMS – the Lutheran Church, Missouri Synod. More than 4,900 graduate and undergraduate students attend classes on the school’s urban campus in St. Paul. There are nine campuses included in the Concordia University system located in the US.

Degree: Online MBA

16. University of Memphis

The University of Memphis’ Fogelman College of Business offers one of the country’s best affordable online MBA programs that is accredited by the Association to Advance Collegiate Schools of Business International.UM Fogelman’s affordable online MBA programs are also nationally ranked by several academic ranking services. Students attending the University of Memphis’ graduate business program must complete 30 credit hours – over ten classes: leadership and negotiation, business analytics, managerial accounting, operations, strategic marketing, global management, plus a capstone project.

The University of Memphis was established as a normal teacher’s school in 1912. The school’s urban Memphis campus serves more than 22,000 students on its 1,100-acre campus. As the home of FedEx, U of Memphis operates the FedEx Institute of Technology. The University of Memphis manages the national center for earthquake information & research.

Degree: Online MBA

17. Louisiana State University–Baton Rouge

Louisiana State University’s Ourso  College of Business offers one of the country’s most affordable online MBA programs only takes 1.5 years to finish. LSU Baton Rouge’s best affordable online MBA programs require students to finish 36 credit hours in classes that include strategic management, cost management, accounting, business legal environments, organizational behavior and finance/statistics, to name a few. Specializations for the MBA program from LSU include emerging technology and data analytics.

Louisiana State University-Baton Rouge was founded under the Morrill Land Grant Act in 1860. The school’s urban campus covers nearly 5,000 acres and serves more than 31,600 students. LSU Baton Rouge is recognized as the flagship campus (and most comprehensive school) of the Louisiana State University System

Degree: Flores MBA

18. University of Iowa

The University of Iowa Tippie College of Business offers a Master of Business Administration (MBA) degree program that is available entirely online. UI’s best affordable online MBA programs require degree candidates to finish 45 credit units over an anticipated two year timeframe. Coursework for these affordable online MBA programs from UI includes managerial finance, business integration, analytics, economics, marketing, corporate finance, and supply chain management, to name a few.

The University of Iowa was founded in 1847, only weeks after the state was adopted into the union. The University of Iowa is Iowa’s flagship school and a space grant institution of higher education. The school’s urban campus in Iowa City serves more than 23,800 students on the 1,800-acre campus.  The University of Iowa was the first state university to approve of the LGBT alliance in the early 1970s.

Degree: Online MBA

19. Ohio University

Ohio University’s College of Business offers a Master of Business Administration (MBA) degree that is ranked among the country’s best affordable online MBA programs.  OU’s online MBA program offers degree candidates a multitude of concentrations from which to choose – analytics, entrepreneurship, finance, health care, accounting, operations, and sales leadership. As one of the most affordable online MBA programs recognized by Forbes Magazine, Ohio University is accredited by the Association to Advance Collegiate Schools of Business.

Ohio University was founded in 1804 as a space grant university located in Athens, OH. The school holds the distinction of being one of the thirty oldest schools in the country. More than 33,000 students attend classes on Ohio University’s academic campuses. Ohio University (OU) holds the distinction of being the first institution of higher education that was chartered in the state and the first chartered by an act of Congress.

Degree: Online MBA

20. Missouri University of Science & Technology

Missouri University of Science & Technology offers a Master of Business Administration degree that US News recognizes as one of the best affordable online MBA programs in the education marketplace. Students enrolled in Missouri S & T’s affordable online MBA programs must meet program requirements that include 36 credit hours, of which 21 classes must be from the MBA dedicated curriculum. Additionally, MBA grad students may elect to earn a graduate certificate in addition to an MBA degree.

Missouri University of Science & Technology was established under the Morrill Land Grant Act in 1870. Missouri S & T is a space grant school that serves more than 8,000 students. US News recognizes many of the schools within Missouri S & T as quality programs. Missouri University of Science & Technology operates a nuclear reactor on campus for research and training purposes.

Degree: Online MBA

21. Campbellsville University

Campbellsville University offers an online Master of Business Administration degree program that is recognized by Christian Colleges as one of the best affordable online MBA programs available. Campbellsville University’s affordable online MBA programs offer students the choice of seven academic concentrations – marketing, information technology, accounting, church management, human resources management, health care management, and international business. Campbellsville University is the first graduate MBA program in Kentucky to be ranked nationally.

Campbellsville University was founded as Russel Creek, and as a private institution of higher education in 1906.  Campbellsville University maintains an affiliation with the Baptist Church but is open to students of all religious denominations. The school’s student enrollment exceeds 12,000 students and offers academic degrees at the associates, undergraduate, and graduate levels. Campbellsville University has received accreditation from IACBE – the International Accreditation Council for Business Education.

Degree: Online MBA

22. McKendree University

McKendree University offers a Master of Business Administration degree that is available 100% online and recognized as one of the nation’s most affordable online MBA programs. McKendree University’s MBA program has received accreditation from the International Assembly of Collegiate Business Education. These best affordable online MBA programs offered by McKendree University includes coursework including finance, leadership, economics, investments, accounting, and organizational behavior, among others, for a total of 36 semester credits. Students applying to transfer to McKendree’s MBA program are permitted to transfer up to 12 eligible credits.

McKendree University was established as the Lebanon Seminary by pioneer Methodists in 1828. The school’s suburban campus in Lebanon is home to nearly 2,500 students studying for academic degrees offered by the university’s four colleges/schools. McKendree University is recognized as the oldest of all schools and colleges in the Land of Lincoln state of Illinois.

Degree: MBA Online 

23. Concordia University Wisconsin

Concordia University Wisconsin’s Master of Business Administration offers one of the country’s best affordable online MBA programs. Students enrolled in CUW’s affordable online MBA programs must complete 36 semester units to graduate from the online graduate business program. Classes at CUW are 8-week formats, which allows degree candidates to complete Concordia University Wisconsin’s MBA program in less than 24 months. Students can opt for MBA concentrations in accounting, finance, management, public administration, sports entertainment, communications, health care, and innovation, among others. 

Concordia University Wisconsin was established by the Missouri Synod, Lutheran Church in 1881, Concordia University Wisconsin is a member school of the Concordia University System. The school’s campus in Mequon serves more than 7,600 students studying for academic degrees offered by the university’s 17  colleges/schools. Concordia University Wisconsin has dedicated ten academic centers to reach adults and working learners.

Degree: Online MBA

24. University of Wisconsin MBA Consortium

The University of Wisconsin MBA Consortium (of all UW campuses) offers an online Master of Business Administration degree program that is recognized as one of the most affordable online MBA programs available. UW Madison’s best affordable online MBA programs require degree candidates to complete 36 semester hours, which averages most students 2.5 to 3 years, part-time. This graduate business degree offered by UW Madison has received accreditation from AACSB. The school boasts class sizes that average  25 students or less.

The University of Wisconsin was established in 1848 under the Morrill Land Grant Act at the same time Wisconsin became a state. In addition, The University of Wisconsin is the flagship and official university of the state. More than 44,000 students attend classes at UW Madison. The University of Wisconsin is recognized as the state’s oldest and first public university.

Degree: MBA 

25. Ottawa University

Ottawa University’s Angell Snyder School of Business offers a Master of Business Administration degree that offers students the option of eight academic concentrations – innovation, operations, accounting, analytics, health care finance, human resources, and leadership development.  ACBSP has accredited Ottawa University’s affordable online MBA programs. Coursework for these best affordable online MBA programs includes organizational behavior, managerial accounting, marketing, managerial economics, finance, information systems, plus a capstone project in business strategy/policy. Students graduate and enter the workforce as administrators, managers, buyers, agents, executives, and cost estimators, to name a few.

Ottawa University was founded in 1865. The school maintains an ongoing religious affiliation with the American Baptist Church. More than 600 students attend classes at Ottawa University on campus, with more than 3,900 students studying online. Ottawa University operates a second campus in the state of Arizona.

Degree: Online MBA

How Is the Job Market for MBA Graduates?

The job market for MBA graduates is steadily increasing. With an affordable MBA degree program, each student can plan on entering the workforce in either an entry-level position or by taking on added responsibility in their current job as a manager or supervisor. As more and more companies are allowing individuals to work from home, having an MBA proves that the student has the skills to maintain an organized work environment as well as handle a variety of tasks that require complex problem-solving skills.

Jobs for recent MBA graduates include data analyst, Human Resources managers, Project managers, and marketing strategists to help their employees gain and maintain the competitive edge they need to succeed. MBA graduates are capable of using complex, problem-solving strategies to help every department stay on track and keep working on reaching their goals in terms of both production and sales.

The job market for new MBA graduates is improving across the board. With the latest technological advancements and students who are driven to succeed, almost every industry has been able to show some type of growth in terms of expanding management teams and an increase in overall productivity. Understanding what affects the job market and what many companies require in terms of education and experience.

How Do I Choose an Online MBA?

Choosing an affordable online MBA will require that you know what type of position you are looking for and how much experience you already have. If you are looking for the best MBA programs, you will want to look at what each program offers and then see which ones comply with the goals you have set for yourself. Knowing what your goals are and what time frame you are looking at will allow you to choose from a traditional MBA degree program or an accelerated program that can be finished in as little as 18 months.

Another thing that is important to look at is whether or not the affordable MBA degree program meets AACSB accreditation standards. Degrees that meet or exceed AACSB accreditation standards ensure that the degree you choose will include all of the skills and abilities that are required for positions that fall under the AACSB certification platforms. Maintaining these gives students the credibility they need to apply for the more advanced positions and also makes it possible for the graduate to earn a higher wage.

AACSB accredited online MBA programs offer the same degree of education as those offered in a traditional class setting. By choosing a degree program that has been accredited by the AACSB, the education you receive must meet or exceed their standards. This means that when you graduate and start to apply for jobs you will have every possible advantage.

Related Rankings:

Top 50 Best Value Online MBA Programs

Top 50 Best Value Accelerated Online MBA Programs