<div class="edu-card" data-widget-id="1" data-cy="edu-card"> <div class="edu-card-banner" data-cy="edu-card-banner"> Advertisement </div> <div class="edu-card-container" data-cy="edu-card-container"> <div class="edu-card-content" data-cy="edu-card-content"> <div class="edu-card-title" data-cy="edu-card-title"> <h1 class="edu-card-title-heading" data-cy="edu-card-title-heading"> UNC Kenan-Flagler’s top-ranked online MBA </h1> <p class="edu-card-title-subheading" data-cy="edu-card-title-subheading"> STEM-designated. Tar Heel ROI. No compromises. </p> </div> <div class="edu-card-content-description" data-cy="edu-card-content-description"> <div class="edu-card-content-description-content"> <p>UNC Kenan-Flagler’s top-ranked online MBA is designed for experienced professionals looking to take their career to the next level. Students have access to lifelong career benefits and a global network of 51,000+ business school alumni. Earn your MBA online in as few as 18 months or up to three years. MBA Fellowships Available.</p> </div> <span class="edu-card-content-description-readmore"> <input type="checkbox" id="edu-card-content-description-readmore-input-1" class="edu-card-content-description-readmore-input" /> <label for="edu-card-content-description-readmore-input-1" class="edu-card-content-description-readmore-label"> <span class="edu-card-content-description-readmore-label-arrow"></span> </label> </span> </div> <a class="edu-card-content-button" target="_blank" href="https://onlinemba.unc.edu/requestinfo/index/">Learn More</a> <span class="edu-card-content-caption"> </span> </div> <div class="edu-card-action" data-cy="edu-card-action"> <picture class="edu-card-picture" data-cy="edu-card-picture"> <img src="https://fortune.com/img-assets/wp-content/uploads/2024/07/UNC2UadCURRENT.png?w=250&amp;h=165" class="" alt=""> <span class="edu-card-picture-label"> </span> </picture> <div class="edu-card-action-cta" data-cy="edu-card-action-cta"> <a class="edu-card-action-button" target="_blank" href="https://onlinemba.unc.edu/requestinfo/index/">Learn More</a> <span class="edu-card-action-caption"> </span> </div> </div> </div></div><script> function checkWidgets() { document.querySelectorAll('.edu-card-content-description-content').forEach((content) => { const readMoreBtn = content.nextElementSibling; if (!readMoreBtn) { return; } if (content && content.clientHeight === content.scrollHeight) { readMoreBtn.style.display = 'none'; } else { delete readMoreBtn.style.removeProperty('display'); } }) } window.removeEventListener('resize', checkWidgets); window.addEventListener('resize', checkWidgets); checkWidgets();</script>

<div class="edu-card" data-widget-id="71" data-cy="edu-card"> <div class="edu-card-banner" data-cy="edu-card-banner"> Advertisement </div> <div class="edu-card-container" data-cy="edu-card-container"> <div class="edu-card-content" data-cy="edu-card-content"> <div class="edu-card-title" data-cy="edu-card-title"> <h1 class="edu-card-title-heading" data-cy="edu-card-title-heading"> The Online MBA From Rice Business </h1> <p class="edu-card-title-subheading" data-cy="edu-card-title-subheading"> Rethink Your Approach to Business </p> </div> <div class="edu-card-content-description" data-cy="edu-card-content-description"> <div class="edu-card-content-description-content"> <p>GMAT waivers are available for the online MBA from Rice Business, ranked a Top-20 Online MBA by U.S. News & World Report. Ranked #1 in graduate entrepreneurship in the U.S. by the Princeton Review for 2024, aspiring entrepreneurs can earn their MBA in as few as 24 months.</p> </div> <span class="edu-card-content-description-readmore"> <input type="checkbox" id="edu-card-content-description-readmore-input-71" class="edu-card-content-description-readmore-input" /> <label for="edu-card-content-description-readmore-input-71" class="edu-card-content-description-readmore-label"> <span class="edu-card-content-description-readmore-label-arrow"></span> </label> </span> </div> <a class="edu-card-content-button" target="_blank" href="https://onlinebusiness.rice.edu/requestinfo/index/">Learn More</a> <span class="edu-card-content-caption"> </span> </div> <div class="edu-card-action" data-cy="edu-card-action"> <picture class="edu-card-picture" data-cy="edu-card-picture"> <img src="https://fortune.com/img-assets/wp-content/uploads/2024/07/Rice2UadCURRENT.png?w=250&amp;h=165" class="" alt=""> <span class="edu-card-picture-label"> </span> </picture> <div class="edu-card-action-cta" data-cy="edu-card-action-cta"> <a class="edu-card-action-button" target="_blank" href="https://onlinebusiness.rice.edu/requestinfo/index/">Learn More</a> <span class="edu-card-action-caption"> </span> </div> </div> </div></div><script> function checkWidgets() { document.querySelectorAll('.edu-card-content-description-content').forEach((content) => { const readMoreBtn = content.nextElementSibling; if (!readMoreBtn) { return; } if (content && content.clientHeight === content.scrollHeight) { readMoreBtn.style.display = 'none'; } else { delete readMoreBtn.style.removeProperty('display'); } }) } window.removeEventListener('resize', checkWidgets); window.addEventListener('resize', checkWidgets); checkWidgets();</script>

<div class="edu-card" data-widget-id="2" data-cy="edu-card"> <div class="edu-card-banner" data-cy="edu-card-banner"> Advertisement </div> <div class="edu-card-container" data-cy="edu-card-container"> <div class="edu-card-content" data-cy="edu-card-content"> <div class="edu-card-title" data-cy="edu-card-title"> <h1 class="edu-card-title-heading" data-cy="edu-card-title-heading"> UNC Kenan-Flagler’s top-ranked online MBA </h1> <p class="edu-card-title-subheading" data-cy="edu-card-title-subheading"> STEM-designated. Tar Heel ROI. No compromises. </p> </div> <div class="edu-card-content-description" data-cy="edu-card-content-description"> <div class="edu-card-content-description-content"> <p>UNC Kenan-Flagler’s top-ranked online MBA is designed for experienced professionals looking to take their career to the next level. Students have access to lifelong career benefits and a global network of 51,000+ business school alumni. Earn your MBA online in as few as 18 months or up to three years. MBA Fellowships Available.</p> </div> <span class="edu-card-content-description-readmore"> <input type="checkbox" id="edu-card-content-description-readmore-input-2" class="edu-card-content-description-readmore-input" /> <label for="edu-card-content-description-readmore-input-2" class="edu-card-content-description-readmore-label"> <span class="edu-card-content-description-readmore-label-arrow"></span> </label> </span> </div> <a class="edu-card-content-button" target="_blank" href="https://onlinemba.unc.edu/requestinfo/index/">Visit Website</a> <span class="edu-card-content-caption"> </span> </div> <div class="edu-card-action" data-cy="edu-card-action"> <picture class="edu-card-picture" data-cy="edu-card-picture"> <img src="https://fortune.com/img-assets/wp-content/uploads/2024/07/UNC2UadCURRENT.png?w=250&amp;h=165" class="" alt=""> <span class="edu-card-picture-label"> </span> </picture> <div class="edu-card-action-cta" data-cy="edu-card-action-cta"> <a class="edu-card-action-button" target="_blank" href="https://onlinemba.unc.edu/requestinfo/index/">Visit Website</a> <span class="edu-card-action-caption"> </span> </div> </div> </div></div><script> function checkWidgets() { document.querySelectorAll('.edu-card-content-description-content').forEach((content) => { const readMoreBtn = content.nextElementSibling; if (!readMoreBtn) { return; } if (content && content.clientHeight === content.scrollHeight) { readMoreBtn.style.display = 'none'; } else { delete readMoreBtn.style.removeProperty('display'); } }) } window.removeEventListener('resize', checkWidgets); window.addEventListener('resize', checkWidgets); checkWidgets();</script>

ad_Business

cat_Graduate

Low Intent

ptype_Explainer

Kayla Solino

<p>Students are increasingly flocking to a lower-cost option for pursuing an MBA degree: online programs. In fact, enrollment in online MBA programs in the U.S. totaled 45,038 students during the 2020-2021 academic year, surpassing the 43,740 who enrolled in <a href="https://fortune.com/education/business/best-mba-programs/">traditional full-time MBA programs</a>, according to the Association to Advance Collegiate Schools of Business (AACSB).</p><div class="paywall-selector"></div><div class="paywall">



<p><a href="https://fortune.com/education/articles/uncovering-the-real-cost-of-an-online-mba-and-we-arent-just-talking-money/">The costs associated</a> with attending an MBA program can deter some students. The total cost to attend top-ranked full-time programs—such as Harvard University or the University of Chicago—exceeds $200,000, and even online programs, which traditionally cost less, can easily run into the six figures. For example, some top schools on <em>Fortune’</em>s newly published <a href="https://fortune.com/education/business/best-online-mba-programs/">ranking of the best online MBA programs</a> have a total price tag in excess of $100,000—including Carnegie Mellon University, the University of Southern California, and the University of North Carolina-Chapel Hill. </p>



<p>That said, those high-priced programs are the exception rather than the rule. Many more affordable options exist—and students can complete an MBA for a fraction of the cost. At almost a dozen online programs, including Missouri State University, West Texas A&amp;M University, and the University of Southern Indiana, it <a href="https://fortune.com/education/articles/10-online-mba-programs-that-cost-less-than-16k/">costs less than $16,000</a> to complete an MBA degree. Many state schools may offer an attractive value for in-state residents.</p>



<p>“Our rationale for our price point is that we are the provider that has a high-quality program, but doesn’t add in a lot of extra fees for the kind of premium nature,” says Robert King, an associate dean of graduate business programs and associate professor of marketing at <a href="https://www.wtamu.edu/academics/college-business/about-us/mmgb-department/robert-king-bio.html">West Texas A&amp;M University</a>.</p>



<p>Regardless of whether your budget is $16,000 or $200,000-plus, it’s important to consider a program’s expense. The cost of an MBA degree will be determined by several factors, such as whether you attend school full-time vs. <a href="https://fortune.com/education/business/best-parttime-mba-programs/">part-time</a>, the program’s format (online, hybrid, on-campus), and the specific program you choose. Here’s what you need to know about the cost of an MBA degree.</p>



<h2 class="wp-block-heading" id="h-how-to-reduce-the-cost-of-an-mba-program">How to reduce the cost of an MBA program</h2>



<p>When weighing the costs of pursuing an MBA, you need to understand exactly what you’re getting for your money. <a href="https://fortune.com/education/business/most-affordable-online-mba-programs/">Low-cost online options</a> will inherently provide a different experience than the higher-priced traditional programs.</p>



<p>That’s why, when assessing a school’s affordability, you need to consider more than just the normal expenses and instead evaluate what a school can provide, says Esther Magna, the principal MBA admissions consultant at <a href="https://www.stacyblackman.com/">Stacy Blackman Consulting</a>, an organization that helps prospective MBA students get into high-ranking graduate programs. That’s because a school that appears expensive on paper may become affordable to the right candidates.</p>



<p>“The best way we define affordability for MBA programs for a typical applicant would be to build a quality, competitive differentiated application so that the admissions readers on the MBA program side are so moved and clearly see that applicants unique value for the incoming student class such that they decide to give a lot of scholarship money,” Magna says. “That’s the best route towards an affordable business program that has a brand that is sustainable and respectable and credible for a young professional.” </p>



<h2 class="wp-block-heading" id="h-consider-opportunity-costs">Consider opportunity costs</h2>



<p>Besides the obvious tuition expenses, Magna says prospective students should consider the “opportunity cost” of a degree if they plan on leaving a salary behind to continue their education full-time. It’s also important to factor in where the program is based, because rents and other costs can be expensive in large cities like New York or London. </p>



<p>“Opportunity costs are a factor, but also living costs,” Magna says. “So those are things to factor in and certainly they can be offset or even washed away by full-ride tuition offers because then young professionals don’t have to be burdened with those tuition bills.”</p>



<p>Magna recommends applying to an array of “rigorous” and “reputable” schools to maximize financial options. </p>



<p>“If you keep a wider net for programs, then maybe that program will see that you’re really a value add enough to warrant granting a partial or full scholarshi<strong>p,”</strong> Magna tells <em>Fortune</em>. “So school flexibility is a way to handle the cost consciousness.” </p>



<h2 class="wp-block-heading" id="h-other-ways-to-offset-the-costs-of-an-mba-program">Other ways to offset the costs of an MBA program</h2>



<p>While scholarships and student loans are common ways to offset the cost of pursuing an MBA program, there are other options available to prospective students. First, it’s a good idea to check in with your current employer to see what policies might be in place to potentially offset or even completely cover the financial costs associated with an MBA program. Some companies work directly with specific schools, while others reimburse up to a certain amount, if not the entire cost, of tuition. </p>



<p>Some large corporations like Chipotle, Starbucks and <a href="https://fortune.com/education/articles/walmart-launches-program-to-pay-100-of-employee-tuition-for-in-demand-degrees/">Walmart even offer to pay </a>100% of employee tuition for in-demand degrees according to <a href="https://www.peoplekeep.com/blog/education-benefits-you-should-be-offering">People Keep,</a> an organization that helps employers develop employee benefit plans. In 2019, the International Foundation of Employee Benefit Plans found that 92% of organizations surveyed in the U.S. and Canada offered some amount of education assistance, tuition reimbursement, or student loan repayment benefits. </p>



<p>Military employees<strong> </strong>can count on tuition reimbursement under various government programs or the <a href="https://www.va.gov/education/about-gi-bill-benefits/post-9-11/">post-9/11 GI Bill.</a></p>



<p>Finally, the U.S. tax code caps tuition reimbursement at $5,250 per semester, and depending on the school you attend, that could pay for one or two courses a semester of either graduate or undergraduate work. Any amount above that $5,250 is generally considered taxable income.</p>



<div class="wp-block-group pro-tip-box-widget"><div class="wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained">
<h3 class="wp-block-heading pro-tip-box-heading">Pro tip:</h3>



<p>Another important factor to consider is the costs and time it takes to earn a solid GRE or GMAT score. Fortunately, some MBA programs <a href="http://Another%20essential%20factor%20is%20the%20costs%20and%20time%20it%20takes%20to%20earn%20a%20solid%20GRE%20or%20GMAT%20score.%20Fortunately,%20some%20MBA%20programs%20do%20not%20require%20standardized%20testing.">do not require standardized testing</a>. </p>
</div></div>



<h2 class="wp-block-heading" id="h-how-much-an-mba-will-cost-you">How much an MBA will cost you<strong> </strong></h2>



<p>Even if you review the range of costs of various types of programs—including online, part-time, full-time, advanced, and executive MBAs—so many factors will play into the amount you actually pay, depending on the school you attend. And while cost is a big consideration in the decision process, Magna says it’s important to remember that MBA program selection is a personal choice that’s based on your individual values and criteria. </p>



<p>“So it’s always a framework, and it’s always a hierarchy and there’s always a cost factor, right? If there are those that do have to look at trade-offs of the cost of tuition compared to their mortgage of their house and their expenses for raising their kids, then there is education everywhere which is really cost-effective,” Magna says. “But we prefer applicants to optimize for multiple factors, not just cost.” </p>



<p><em>Check out all of </em>Fortune’<em>s </em><a href="https://fortune.com/education/" target="_blank" rel="noreferrer noopener"><em>rankings of degree programs</em></a><em>, and learn more about specific </em><a href="https://fortune.com/education/careers/" target="_blank" rel="noreferrer noopener"><em>career paths</em></a><em>.</em></p>



<div class="wp-block-group pro-tip-box-widget"><div class="wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained">
<h3 class="wp-block-heading pro-tip-box-heading">Read more</h3>



<li>Choose from our rankings of the <a href="https://fortune.com/education/business/best-mba-programs/">best MBA programs</a> to find the next phase of your educational journey.</li>
<li>This list helps those looking for <a href="https://fortune.com/education/business/best-mba-programs/no-gmat-gre-required/">MBA program options that do not require submission of test scores</a> to apply.</li>
<li>Our directory of the <a href="https://fortune.com/education/business/most-affordable-online-mba-programs/">most affordable online MBA programs</a> can help you find the school that best fits your budget.</li>
<li>You can work towards your career goals on your own time by selecting from our list of the <a href="https://fortune.com/education/business/best-parttime-mba-programs/">best part time MBA programs</a>.</li>
<li>To help you pick the program that’s the best fit for you, we made this list of the <a href="https://fortune.com/education/business/best-executive-mba-programs/">best executive MBA programs</a>.</li>
<li>Interested in earning your MBA online? Here’s our ranking of the <a href="https://fortune.com/education/business/best-online-mba-programs/">best online MBA programs</a>.</li>
</div></div>
</div>

The cost of an MBA can range from less than $12,000 to over $200,000, depending on your program.

How much does an MBA cost?

F-Search

Education

Education Articles

Jasmine Suarez

Business

Fortune earns a commission for purchases made from affiliate partners via some links on our site; other links are not affiliate partner links. <a href='/affiliate-disclosure/'>Click here</a> to read the full Fortune advertiser disclosure and how we earn commissions.

We have independently evaluated the products and services below. We may earn affiliate revenue from links in the content.

Fortune Editors

Fortune Education is designed to be your guide to navigating this new, rich and somewhat overwhelming world of education. Our team of experienced editors is committed to scouring the universe of online offerings in order to rank, rate, provide comparisons and recommend the right solutions for you and your career.

Fortune Education

Uncategorized

homepage

articles

Articles Hub

By Region

By State

By Cost

Career Hub

Health and Wellness

Tech

EDUCATION

EDUCATION ARTICLES

HOW MUCH DOES AN MBA COST?

How much does an MBA cost? | Fortune Education

Rich Griset

10 free data analytics courses you can take online

https://fortune.com/education/articles/free-data-analytics-courses/?itm_source=parsely-api

Preston Fore

2024 real estate school review: AceableAgent

https://fortune.com/education/articles/real-estate-school-review-aceableagent/?itm_source=parsely-api

Brad Haft

Best real estate schools for 2024

https://fortune.com/education/articles/best-real-estate-schools/?itm_source=parsely-api

Brit Morse

A law associate making $300,000 a year at Skadden Arps quit over the firm’s deal with Donald Trump

/article/rachel-cohen-making-300k-year-law-associate-skadden-arps-quit-protest-firms-deal-trump/

Get ready to pay more than $2,000 for a new iPhone: Experts say Trump’s 125% tariff on China is a ‘complete disaster for Apple’ akin to ‘Armageddon’

/2025/04/10/apple-iphone-16-price-complete-disaster-china-trump-tariffs/

It’s about to get a lot harder for job seekers as tariffs are set to make the hiring landscape even more daunting

/2025/04/07/trump-tariffs-labor-market-more-challenging-job-seekers-economists-say/

This company does peer performance reviews—And then lets everyone read each other’s evaluations

/2025/03/24/performance-review-process-company-allows-all-workers-read-garner-health-workplace-culture/

2024 health coach certification review: Catalyst Coaching Institute

/education/articles/health-coach-certification-review-catalyst-coaching-institute/

A guide to a nurse’s salary: Broken down by all 50 states and industry type

/education/careers/nurse-salary/

2024 health coach certification review: Institute for Integrative Nutrition

/education/articles/health-coach-certification-review-institute-for-integrative-nutrition/

10 high-paying public health jobs right now

/education/careers/public-health-jobs/

Jason Del Rey

Is eBay actually sexy again as the ecommerce old-timer’s stock surges to an all-time high?

/2025/07/31/ebay-earnings-live-sports-cards-trading-pokemon/

Erik German

Meet the CIA-backed venture fund behind Palantir, Anduril—and a spy tool that might be on your phone

/2025/07/29/in-q-tel-cia-venture-capital-palantir-anduril/

Dana Hull

Kiel Porter

Bloomberg

Tesla engineering VP Moravy says company in ‘big swing moment’

/2025/07/27/tesla-engineering-vp-lars-moravy-big-swing-moment-musk-robotaxi-optimus-semi/

Christiaan Hetzner

Volkswagen seeks audience with Trump, dangling more than $10 billion in U.S. investments in exchange for tariff exemptions

/2025/07/25/volkswagen-trump-tariffs-exemptions/

Whether you’ve just completed your undergraduate degree or you are a professional with years of experience, Fortune is here to guide you on the next step of your educational journey.

How much does an MBA cost?

About the Contributors

Top Articles

10 free data analytics courses you can take online

2024 real estate school review: AceableAgent

Best real estate schools for 2024

UNC Kenan-Flagler’s top-ranked online MBA