If you’re considering pursuing an MBA degree but are concerned about the cost or the prospect of taking the GMAT, plenty of programs can accommodate your needs.
While many MBA programs require you to take the GMAT, it’s becoming increasingly common for universities to waive this requirement to make higher education more accessible to more people. With careful planning and a proactive approach, you can pursue an online MBA program without taking the GMAT and achieve your academic and career goals.
To help you get started, here’s an overview of the cheapest online MBA programs that don’t require GMAT scores.
How To Get Into an Online MBA Program
While the GMAT is often a requirement for admission into MBA programs, many schools have waived it, making admission more accessible for aspiring students. However, it’s important to note that these programs still have other admission requirements that applicants must fulfill.
Typical admissions requirements for online MBA programs include:
- Bachelor’s degree: Most programs require applicants to hold a bachelor’s degree from an accredited institution. The field of study is often flexible, allowing applicants from diverse academic backgrounds to apply, but generally, it should be related to business or finance.
- GPA requirements: Many schools have a minimum GPA requirement for admission. This requirement varies among institutions, but a competitive GPA is generally expected. Admissions committees consider the GPA to indicate an applicant’s academic preparedness and ability to handle the program’s rigor.
- Work experience: Some online MBA programs prefer applicants with professional work experience, while others may not have strict requirements. Work experience can demonstrate practical skills, leadership abilities, and industry knowledge, enhancing the learning experience and contributing to a diverse cohort.
- Letters of recommendation: Online MBA programs often require letters of recommendation from individuals who can attest to an applicant’s academic abilities, work ethic, and potential for success in the program. These letters should come from supervisors, professors, or professionals who know the applicant well. Strong letters of recommendation can provide insights into an applicant’s skills and achievements.
Some programs may also require a statement of purpose or a personal essay where applicants can explain their career goals, motivations for pursuing an MBA, and how the program aligns with their aspirations.
Another important note — some universities make submitting GMAT scores optional, meaning that you may be competing against other students who have submitted test scores for admission if you don’t submit test scores. As a result, if you haven’t or don’t plan on taking the GMAT, take your time to make sure the rest of your application materials are as good as they can be to improve your chances for admission.
By ensuring you meet these requirements and submitting a compelling application, you’ll be better positioned to get accepted into an online MBA program, even if it doesn’t require the GMAT.
How To Reduce the Cost of Your MBA Program
Attending an online MBA program can be a significant financial investment. Education-related expenses, from tuition and fees to books and supplies, can add up quickly.
In addition to attending an affordable online college, there are various things you can do to reduce the cost and make your education more affordable.
Find scholarship opportunities
Scholarships are a valuable resource for funding your MBA program. Several organizations and institutions offer scholarships specifically for MBA students. These scholarships help offset the cost of tuition and other expenses associated with pursuing an MBA degree.
Here are a few examples:
- Forté Foundation Scholarships: The Forté Foundation offers scholarships for women pursuing MBA degrees. These scholarships aim to increase gender diversity in business education and support women in pursuing leadership roles in the business world.
- The Consortium for Graduate Study in Management: This organization offers merit-based scholarships for underrepresented minorities pursuing MBA programs. The Consortium partners with prestigious business schools to provide these opportunities and promote diversity and inclusion in business education.
- Military MBA: Military MBA offers scholarships to any U.S. resident who has an undergraduate degree and served in the military. These scholarships recognize the unique experiences and leadership qualities that veterans bring to the business world and support their transition into civilian careers.
Researching and identifying scholarship opportunities that align with your background, goals, and circumstances is important. Explore additional scholarships through your chosen MBA program, professional organizations, and external sources to maximize your chances of securing financial assistance.
Remember to apply for scholarships as early as possible, as scholarship funds are often limited.
Enroll full-time
While many online MBA programs offer flexible schedules to accommodate working professionals, it’s worth considering enrolling as a full-time student. Some schools provide lower tuition rates for full-time students compared to part-time students.
By dedicating yourself to full-time studies, you may complete the program more quickly and save on overall tuition costs. However, carefully considering your ability to balance the demands of full-time studies with your other commitments, such as work and family responsibilities, is essential.
Take advantage of work-study programs
Work-study programs offer an excellent opportunity to gain practical experience and earn income while pursuing your online MBA. These programs typically involve part-time work within the university or affiliated organizations. By participating in a work-study program, you can gain valuable insights, apply classroom knowledge to real-world situations, and establish professional connections. The compensation received can help offset the cost of tuition and living expenses, making your education more affordable.
It’s important to note that work-study opportunities may vary depending on the online MBA program and the resources available. Research your chosen program’s work-study options and explore how they can benefit your educational journey.
By implementing these strategies, you can significantly reduce the cost of your online MBA program and make your education more affordable. Remember to thoroughly research and compare different programs to find the one that aligns with your goals, budget, and preferred learning format.
How we rank schools
This list features some of the cheapest online MBA (no GMAT) programs in the country. Each school featured is a nonprofit, accredited institution — either public or private — with a high standard of academic quality for post-secondary institutions.
We evaluated each school’s program on tuition costs, admission, retention and graduation rates, faculty, and reputation. Then, we calculated the Intelligent Score on a scale of 0 to 100. Read more about our ranking methodology.
Next, we compared this comprehensive list of the cheapest online MBA (no GMAT) programs to a list of aggregated college rankings from reputable publications, such as U.S. News & World Report, to simplify a student’s college search. We pored through these rankings so students don’t have to.
Best 43 Cheapest Online MBA (No GMAT) Programs
Institution Type
Status
- Intelligent Score
- Alphabetically By University Name
- Acceptance Rate
- Enrollment
- In-state Graduate Tuition
- Out-of-state Graduate Tuition
- In-state Undergraduate Tuition
- Out-of-state Undergraduate Tuition
University of North Carolina at Chapel Hill
Intelligent Score: 99.46In-state: $7,019
Out-of-state: $34,198
In-state: $10,552
Out-of-state: $10,552
SAT: 1280-1490
ACT: 28-33
$2,026
Online
Association to Advance Collegiate Schools of Business
62
University of Florida
Intelligent Score: 99.11In-state: $4,477
Out-of-state: $25,694
In-state: $10,770
Out-of-state: $10,770
SAT: 1290-1460
ACT: 29-33
$1,208 - $1,500
Online, On-Campus
Association to Advance Collegiate Schools of Business
32-48
Fitchburg State University
Intelligent Score: 98.75In-state: $970
Out-of-state: $7,050
In-state: $3,420
Out-of-state: $3,420
SAT: N/A
ACT: N/A
$436
Online
International Accreditation Council for Business Education
30
Ashland University
Intelligent Score: 98.33In-state: $22,000
Out-of-state: $22,000
In-state: $6,444
Out-of-state: $6,444
SAT: 1000-1208
ACT: 19-24
$1,010
Online, On-Campus
Accreditation Council for Business Schools and Programs
30
Anderson University
Intelligent Score: 98.07In-state: $26,820
Out-of-state: $26,820
In-state: $10,140
Out-of-state: $10,140
SAT: N/A
ACT: N/A
$580
Online, Hybrid
Accreditation Council for Business Schools and Programs
45
Colorado State University
Intelligent Score: 97.53In-state: $9,426
Out-of-state: $28,147
In-state: $10,520
Out-of-state: $10,520
SAT: 1070-1280
ACT: 23-29
$998
Online
Association to Advance Collegiate Schools of Business
42
Southeastern Oklahoma State University
Intelligent Score: 93.27In-state: $6,240
Out-of-state: $14,880
In-state: $4,716
Out-of-state: $4,716
SAT: 880-1090
ACT: 17-23
$345
Online
Association to Advance Collegiate Schools of Business
36
West Texas A&M University
Intelligent Score: 93.01In-state: $5,748
Out-of-state: $7,195
In-state: $4,968
Out-of-state: $4,968
SAT: 920-1130
ACT: 18-23
$500
Online
Association to Advance Collegiate Schools of Business
31
William & Mary
Intelligent Score: 92.76In-state: $17,168
Out-of-state: $40,089
In-state: $10,516
Out-of-state: $10,516
SAT: 1300-1490
ACT: 30-34
$1,425
Online
Association to Advance Collegiate Schools of Business
49
Florida Atlantic University
Intelligent Score: 89.89In-state: $2,522
Out-of-state: $14,374
In-state: $5,467
Out-of-state: $5,467
SAT: 1060-1220
ACT: 21-26
$800
Online
Association to Advance Collegiate Schools of Business
40-46
Murray State University
Intelligent Score: 89.51In-state: $7,968
Out-of-state: $17,148
In-state: $7,981
Out-of-state: $7,981
SAT: 1020-1230
ACT: 21-27
$565
Online
Association to Advance Collegiate Schools of Business
30
University of Nebraska - Lincoln
Intelligent Score: 89.17In-state: $7,770
Out-of-state: $24,900
In-state: $6,138
Out-of-state: $6,138
SAT: 1110-1320
ACT: 22-28
$700
Online
Association to Advance Collegiate Schools of Business
48
Bay Path University
Intelligent Score: 88.04In-state: $35,781
Out-of-state: $35,781
In-state: $19,235
Out-of-state: $19,235
SAT: 940-1170
ACT: 23-31
$855
Online, On-Campus
New England Commission of Higher Education
30
University of South Dakota
Intelligent Score: 86.65In-state: $7,697
Out-of-state: $11,172
In-state: $6,062
Out-of-state: $6,062
SAT: 1000-1245
ACT: 20-25
$470
Online
Association to Advance Collegiate Schools of Business
33
West Liberty University
Intelligent Score: 84.24In-state: $8,150
Out-of-state: $16,090
In-state: $6,780
Out-of-state: $6,780
SAT: 900-1120
ACT: 17-23
US: $510 International: $625
Online
International Accreditation Council for Business Education
30
Maryville University
Intelligent Score: 84.24In-state: $24,766
Out-of-state: $24,766
In-state: $14,346
Out-of-state: $14,346
SAT: N/A
ACT: N/A
$774
Online
Accreditation Council for Business Schools and Programs
36-39
Xavier University
Intelligent Score: 83.18In-state: $42,230
Out-of-state: $42,230
In-state: $12,060
Out-of-state: $12,060
SAT: 1060-1250
ACT: 22-28
$919
Online
Association to Advance Collegiate Schools of Business
39-45
Liberty University
Intelligent Score: 82.79In-state: $14,791
Out-of-state: $14,791
In-state: $7,935
Out-of-state: $7,935
SAT: 1040-1250
ACT: 21-29
$565
Online
Accreditation Council for Business Schools and Programs
36-45