Online business degrees can open up new career opportunities for you and boost your earnings. But the cost of tuition can be a significant barrier to entry, especially if you’re already working full time or are an adult learner with other responsibilities.
Fortunately, there are many affordable online business degrees that you can earn entirely from home and at a low cost. This article covers some of the most affordable online business degrees along with their average costs so that future students can make informed decisions. Read on to learn more about these affordable business degrees from home and what related fields you should consider instead if money is extremely tight.
What’s the Difference Between an Online and Campus-Based Degree?
Online degrees and campus-based degrees are both valid forms of academic credentials that lead to career advancement. However, there are some key differences between the two, including how they are delivered, the cost, the amount of time it takes to complete, the culture at the school, and the possible career paths that the degree can open up.
First, online degrees have a wider reach and appeal to a wider range of students by facilitating participation regardless of location. But, online degrees do miss out on some of the social and cultural benefits of a campus-based degree. Online degrees also typically cost less than campus-based degrees due to reduced administration and lower real estate costs. Online degrees average around $20,000 while campus-based degrees are closer to $40,000.
The time it takes to complete an online degree is often shorter due to less intensive general education requirements. Campus-based degrees, on the other hand, require more time to complete due to the more intensive nature of in-person courses and the need to attend class on a regular basis.
Finally, online degrees tend to be more focused and targeted towards specific industries and occupations. Campus-based degrees, on the other hand, draw from a wider range of disciplines and offer more generalist fields of study. Some campus-based degrees also provide more flexibility when it comes to choosing your specialization.
Online Business Degree Disrupter Programs
Online business degree programs that have disrupted the traditional model of higher education include the following:
1. Arizona State University: ASU Online Business Analytics: This program allows you to earn a Bachelor of Science in Business Analytics (BSBA) online without ever having to set foot in a classroom.
2. Stevens Institute of Technology: Hybrid MBA- Executive MBA: This MBA-EMBA hybrid degree program combines online coursework with on-campus residencies where you can apply what you’ve learned and build valuable industry connections.
3. Indiana University: iMBA: The iMBA program offers a flexible, online business master’s degree that is designed to meet your busy lifestyle.
4. University of Wisconsin-Madison: Online MBA: This 36-credit MBA program is offered completely online and can be completed in as little as 18 months.
5. University of Illinois: Online MBA: The University of Illinois offers an affordable, online MBA with a base tuition cost of just $9,000.
6. University of Florida: Online MBA- Healthcare: This online MBA-Healthcare degree program is designed to equip students with the tools to lead in the evolving healthcare industry.
7. Arizona State University: Online MBA- Data Science: This online MBA-Data Science degree program equips students with the skills and tools to utilize data and analytics to make better decisions in the business world.
8. University of Maryland: Online MBA- Financial Risk Analytics: This 36-credit online MBA program equips students with the tools to analyze risk and make better business decisions.
9. University of Denver: Online MBA- Health Care Management: This online MBA-Health Care Management degree program equips students with the tools to lead in the healthcare industry.
10. Virginia Tech: Online MBA- HR: This online MBA-HR degree program equips students with the tools to lead in the Human Resources industry.
Costs for Online Business Degrees
Tuition and costs for online business degrees vary significantly by program but can be as low as $5,000. This is significantly cheaper than the average campus-based degree which costs around $40,000. Keep in mind, however, that online business degrees usually don’t have the same level of financial aid as campus-based degrees.
To find out the cost of individual online business degrees, you can either contact the school directly or use a tool like the U.S. Department of Education’s College Affordability and Transparency Center.
Keep in mind that while online degrees tend to be less expensive, they aren’t always free. Some online business degrees also offer a significant amount of flexibility and may be able to be completed in as little as two years. Online business degrees are also available in a wide range of areas, including business, management, marketing, and entrepreneurship.
Top 5 Cheap Online Business Degrees
Here are some cheap online business degrees that are available to students who are financially challenged.
1. Colorado State University: Online MBA:
This 36-credit, online MBA degree program charges $13,000 for Colorado residents and $16,000 for non-residents.
2. Bellevue University: MBA- Healthcare Management:
This MBA-Healthcare Management degree program costs $10,000.
3. Virginia Tech: Online MBA- Human Resources:
This online MBA-Human Resources degree program charges $16,000.
4. University of Denver: Online MBA- Health Care Management:
This online MBA-Health Care Management degree program charges $12,000.
5. Stevens Institute of Technology: Hybrid MBA- Executive MBA:
This MBA-EMBA hybrid degree program charges $41,000.
2 Cheap B-schools with Flexible Scheduling and Low Costs
Students looking for cheap online business degrees may also want to consider the following two B-schools.
1. University of Wisconsin: MBA-Online: This MBA-Online degree program charges $9,000 and has a flexible, asynchronous format.
2. University of Maryland: MBA-Executive: This MBA-Executive degree program charges $15,000 and has a flexible, asynchronous format.
3 Cheaper B-schools with Traditional Semesters
Some students may prefer an online business degree that uses traditional semesters for scheduling courses. Here are three such B-schools and their costs.
1. University of Cincinnati: MBA-Online: This MBA-Online degree program charges $16,000 and uses traditional semesters.
2. Indiana University: MBA-Online: This MBA-Online degree program charges $19,000 and uses traditional semesters.
3. University of Massachusetts: MBA-Online: This MBA-Online degree program charges $14,000 and uses traditional semesters.
2 Cheapest B-schools Without Semesters
Some online business degrees don’t use traditional semesters. Here are two B-schools that don’t use traditional semesters and their costs.
1. Arizona State University: MBA-Online: This MBA-Online degree program charges $16,000 and doesn’t use traditional semesters.
2. Stevens Institute of Technology: MBA-Online: This MBA-Online degree program charges $38,000 and doesn’t use traditional semesters.
These are some of the most affordable online business degrees that you can earn entirely from home. Online degrees have a wider reach and appeal to a wider range of students by facilitating participation regardless of location.
Online degrees also often cost less due to lower administration and real estate costs. Online degrees may be less expensive but they don’t lack in quality. In fact, some online business degrees provide students with the tools to lead in the evolving business world.