When working professionals back in 2005 wanted to enroll in business school, they had to overcome formidable barriers in order to do so. Before state universities began to offer AASCB-accredited MBA programs online, prospective students had to consider the following sacrifices:
- Resign from a current position or take time away (if allowed).
- Forgo steady income in order to pursue an MBA.
- Uproot the family to move near a campus with an MBA program.
- Save for years before having the funds to enroll.
If only these working professionals could have traveled in time to the near future, they would have seen the difference technology and just a few years can make. Today, some of the most respected state university business schools in America are offering their MBA programs online. Many of the top online programs, including the University of South Carolina Aiken’s Master of Business Administration programs, offer the same curricula and prestige of their on-campus counterparts, with an impressive list of advantages.
Today, the sacrifices students made just over a decade ago no longer apply. Working professionals can keep their jobs and their incomes while they pursue their postgraduate degrees. They can earn their degrees from home, wherever that may be, in any state in the U.S., or even overseas. Families can remain in place, spouses can continue working, kids can continue attending the same schools and life can go on — business as usual.
The University of South Carolina Aiken Eliminates the Traditional Costs
According to Investopedia, in just a two-year period, MBA students can accumulate between $100,000 and $200,000 in debt and expenses, especially in private schools. Poets & Quants reports that students in North American programs pay an average of $222,000 in tuition and fees. For working professionals who have yet to break the six figure income mark, this is a tremendous financial burden to bear — but the expenses do not end there!
Then there are the opportunity costs of forgoing a paycheck and putting a career on hold for two years or more. The lost income portion of the equation may exceed the common $60,000 in annual tuition, board and books for on-campus programs. Lost income is a back-breaking strain for most working professionals in their 20s through 40s. That is compounded again by lost opportunities for promotions and raises, not to mention the interest that could be accrued in 401(k) accounts and other investments.
Students who drive to a campus also incur commuting costs including tolls, fuel, higher insurance premiums, maintenance, repairs, vehicle depreciation and meals on the road. These charges can easily exceed $2,000 each year.
Comparatively, the University of South Carolina – Aiken offers an exceptional online MBA value. USC Aiken offers four accelerated MBA programs:
- Master of Business Administration General Online – Tuition: $13,948
- Master of Business Administration with a Specialization in Accounting Online – Tuition: $16,800
- Master of Business Administration with a Specialization in Finance Online – Tuition: $16,800
- Master of Business Administration with a Specialization in Project Management Online – Tuition: $16,800
The general MBA program is 30-34 credit hours, and students can complete it in as few as 12 months. The specialized programs are 36-40 credit hours apiece, and students can complete either in as few as 16 months. All four programs save students time when compared with traditional two-year programs.
AACSB Accreditation Is the MBA Hallmark of Excellence
Less than 6 percent of the world’s business schools have earned the AACSB International assurance of educational quality. This distinction is awarded after a rigorous process of internal review, engagement with an AACSB-assigned mentor and peer review. AACSB International 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 an MBA program. The University of South Carolina Aiken is proud to be counted among this elite group.
For working professionals in South Carolina and across the U.S. who are seeking an MBA experience and degree that will serve them well, the USC Aiken online MBA programs offer a value proposition that is hard to beat.
Learn more about the University of South Carolina Aiken’s online MBA programs.
Sources:
Investopedia: The Real Cost of an MBA
Bloomberg Businessweek: The Real Cost of an MBA
Poets & Quants: How Much Does an MBA Really Cost?
U.S. News & World Report: University of South Carolina-Aiken
