Funding an MBA is expensive and a big cause for concern. GMAC’s 2017 Prospective Students Report revealed 52% of prospective MBA students are worried about not being able to afford the cost of an MBA, and 47% are troubled by large student loans.
With the opportunities generated by an MBA, return on investment (ROI) is often used as a justification for the high price of the degree. Still, for some, the initial price-tag acts as a barrier to higher business education.
There are however, many initiatives which help ease the financial pressures. These range from a variety of scholarships offered by different business schools to novel, pay-as-you-study initiatives like that offered by Edinburgh Business School, the Graduate School of Business of Heriot-Watt University in the UK.
For those studying abroad, organizations like Prodigy Finance—a borderless, peer-to-peer lending platform—provide international, post-graduate loans.
Student Loan Hero looked at 116 of the top American business schools to identify which programs are most financially affordable, taking into account the average debt of graduates, average starting salaries, and annual tuition fees.
Big-name institutions like UC Davis (ranked 48th for affordability) and Temple University’s Fox School Of Business (ranked 27th) feature in the top 50.
Here’s Student Loan Hero’s top 10 most affordable MBA programs in the United States: