Not long ago, working professionals had to make considerable career and personal sacrifices in order to earn a Master of Business Administration (MBA) degree. They often had to leave jobs, uproot families to move near a campus and bear substantial financial strain. Yet, in terms of degrees conferred, business is consistently the most popular field of graduate-level study, according to the National Center for Education Statistics (NCES). Further, the Graduate Management Admission Council (GMAC) reports that the MBA is the most popular business management degree across the globe.
One of the internet’s positive impacts on people’s lives is the development of hybrid and fully online degree programs which offer flexibility, convenience and accessibility. Online degree programs can diminish the sacrifices required to attain the educational credentials employers demand. Many of the top online programs, including the online MBA program from Northern Kentucky University (NKU), offer the same curricula, prestige and professional and personal benefits as their on-campus counterparts — with an impressive list of cost advantages.
The NKU Online MBA Program Offers Exceptional Value for an AACSB-Accredited Program
According to AACSB International, “Approximately 6 percent of the world’s schools offering business degree education have achieved AACSB accreditation, demonstrating a commitment to high-quality rigorous standards, innovation, and continuous process improvement.” Achieving this distinction requires a process of rigorous internal review, engagement with an AACSB-assigned mentor and peer review.
AACSB standards “require excellence in areas relating to strategic management and innovation; student, faculty and staff as active participants; learning and teaching; and academic and professional engagement.” These are the standards employers value in a business education. NKU’s 100% online MBA program — and its faculty and students — are proud to be counted among this elite group.
NKU stands out from many other AACSB-accredited institutions when considering cost and investment. Tuition for this online MBA is surprisingly affordable, and tuition is the same for in-state and out-of-state students. Plus, all fees are included in “total tuition” figures listed on the program’s website. Students save valuable time as well with an accelerated program that they can complete in as few as 12 months. For some, this time savings can have an even greater impact than the difference in tuition fees.
Earning Your MBA Online Eliminates Many of the Traditional Costs
In just a two-year period, MBA students can accumulate hundreds of thousands of dollars in tuition expenses. Room and board, textbooks and materials, commuting and others costs can add tens of thousands of dollars to the “true cost” of earning an on-campus, in-person MBA.
Further, the opportunity costs of forgoing a paycheck and putting a career on hold for two years or more may exceed tuition, room and board and other costs for on-campus programs. Lost income is considerable for working professionals in their 20s through 40s. Lost opportunities for advancements and raises compound lost income from foregone wages, not to mention the interest that could be accrued in 401(k) accounts and other investments. All these expenses and costs are important to consider when calculating the potential return on investment of an MBA program.
Through attending an online MBA like NKU’s and continuing to work while completing the degree, students can avoid a great deal of the opportunity costs and other expenses associated with traditional, on-campus MBA programs. Granted, tuition for online programs at many schools is equivalent to (or higher than) on-campus programs. But tuition for some online MBAs — NKU’s being a prime example — can be considerably more affordable than average MBA tuition rates.
The Value of Your Time Is an Equally Worthy Consideration
Earning an MBA online enables students to balance academics with professional and personal responsibilities. Students can continue to work while attending online classes, whenever and wherever it is convenient. Degree candidates may study in the early morning hours, on lunch breaks or at night. For working professionals who are short on time, the online model is long on flexibility.
Reduce Your Expenses With Financial Aid
With accredited online programs like the NKU online MBA, students have access to the same financial aid options available on campus. The Office of Student Financial Assistance will work with students to locate funding opportunities including Pell grants, loans and other means to meet individual financial needs.
The NKU online MBA program delivers the prestige of a state university, the accreditation employers demand, the potential for career advancement opportunities and a value proposition that is difficult to match.
Learn more about the NKU online MBA program.
