written by: Ivy N. McQuain MBA•edited by: Amanda Grove•updated: 4/16/2011
Getting your MBA can be a costly endeavor but there are universities and colleges out there that allow for you to return to school and get your MBA for less and these schools are accredited.
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Getting a Master of Business Administration or MBA can be one of the most expensive educational endeavors you invest in. But the key word is invest. When you are finally committed to returning to college to complete a MBA degree then you also know there is a pricey financial obligation waiting for you. MBA hopefuls spend countless hours looking for accredited MBA programs for less and often with no success. Time eventually weighs on them and the research alone makes them put off their dream of completing their MBA. Fortunately, there is hope for those looking to get their MBA and advance their career goals.
When looking into MBA programs at the multitude of colleges and universities it is important to check for accreditation. According to AACSB, only 30 percent of MBA programs receive their accreditation. To start your MBA program search you have to know if the program is accredited or not by checking with these agencies:
Association to Advance Collegiate Schools of Business (AACSB) – National
Distance Education and Training Council (DETC) - National
Southern Association of Colleges and Schools (SACS) - Alabama, Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee, Texas and Virginia
Middle States Association of Colleges and Schools (MSA) - Delaware, District of Columbia, Maryland, New Jersey, Pennsylvania, Puerto Rico and Virgin Islands
Western Association of Schools and Colleges (WASC) - California, Hawaii and the Pacific Basin
New England Association of Schools and Colleges (NEASC-CIHE) - Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island and Vermont
North Central Association of Colleges and Schools (NCA-HLC) - Arizona, Arkansas, Colorado, Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, New Mexico, North Dakota, Ohio, Oklahoma, South Dakota, West Virginia, Wisconsin and Wyoming
Northwest Association of Accredited Schools (NAAS) - Alaska, Idaho, Montana, Nevada, Oregon, Utah Washington
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Traditional MBA Programs
Now let’s move on to the affordable MBA program. When looking for a school that is affordable, students should consider the cost of travel, books, admissions, course or sessions, the time to complete the MBA and other factors including personal costs. Many traditional colleges advise students to budget for each year they are working towards completing their MBA.
Here are a few MBA programs as reported by BusinessWeek:
University of Tennessee at Martin College of Business MBA program costs approximately $14,000 for the entire program and takes about 12 months to complete.
Boise State University College of Business & Economics MBA program costs approximately $15,548.00 for the entire program and takes about 20 months to complete.
Florida State University College of Business MBA program costs approximately $14,490.00 for the entire program and takes about 12 months to complete.
Kansas State University – MBA costs approximately $17,940.00 for the entire program and takes about 21 months to complete.
San Francisco State University College of Business costs approximately $6,839.00 for the entire program and takes about 24 months to complete.
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Finding accredited MBA programs for less can be a challenge but it can be done. Remember to start with nationally and regionally accreditation institutions as a start. Once the targeted school is identified then set a realistic budget and search for schools within that budget. There are many affordable traditional MBA programs available for students but finding the right one is the key!
Association to Advance Collegiate Schools of Business. 2011. http://www.aacsb.edu/