The cost of education varies depending on institution of higher education, location, type of program, length of time in school, and living and other expenses. Even though the method of distribution is different, online MBA programs’ costs also respond on many of these same factors, in terms of tuition/fees and books/supplies.
Fees
Online MBA programs usually do not have the same fees as on-campus ones have, and many traditional fees are waived. However, some fees are required. The technology fee is often the most prominent as no online program can function without hardware and software. Whether it’s charged per course or per semester, this fee covers the cost of providing technical support services, distance education software and course management systems.
Textbooks
Although all course work is completed on a computer, you still may be required to purchase textbooks and other types of educational materials. Some online MBA programs include the price of books in course price, so it’s important to read the fine print when comparing school costs. Students may have to purchase textbooks or e-books associated with each course, but most programs do include class material and software.
Online Versus Campus Costs
Online MBA students are not required to attend lectures on campus, so they will save a substantial amount of money when it comes to travel expenses such as gas, parking and car wear and tear. They also won’t have to worry about costs with campus life such as student housing and meal plans and activity fees for student health or recreation centers.
Computer
It is also important to take into consideration that as an online student it is your responsibility to furnish your virtual work space. The online student’s list of must-have supplies include a computer, printer, scanner, external hard drive, software, and most important, Internet service.
Residency and Tuition
One of the good things about distance programs is that the cost of tuition is generally the same whether you live in state or out. If you want to earn an MBA from a particular out-of-state school, the online way will likely be much less expensive in the long run than relocating to participate in an on-campus program as a nonresident. For example, if you want to get an MBA from Colorado State University, you may want to consider its online MBA program, which is known for its quality and affordability. The online program is identical to the on-campus one in terms of faculty and curriculum, but tuition is less.
Many online students do not pay the “sticker price” when it comes to their education. There are plenty of financial aid options available for distance learners.