One of the main questions asked by aspirants of a management program is about its cost. Most management programs are quite expensive and require the students to save money or take a bank loan. This could be a regular program or a distance education one. It is important to note that the cost of different MBA programs offered by different college can vary significantly. Also, the fee for a regular MBA course and a distance MBA fee can be significantly varied.
Usually, distance MBA fee is less than the regular ones. These programs are conducted through the online mode and hence are cheaper than regular courses. Online courses do not include the cost of maintaining. For example, the cost of maintaining furniture, building and other infrastructure utilised in a classroom teaching, is not included. It also does not require traveling to a college campus. Living closer to a campus also involves rental costs as well as costs related to food and other extra expenses. Online course’s students are exempt from paying charges such as library fee etc. A student therefore ends up saving on all the above parameters making distance MBA fee far more affordable.
However, many other factors also contribute to online business degree costs. The cost of these courses from prestigious universities and business schools is significantly higher than the others. The program duration can impact the course fee as well as the format of the program. A degree course may be more expensive than a certificate course. Similarly, some online MBA programs may also charge for course related textbooks additionally.
Some online courses in this field are completely available through the internet and can be accessed on a laptop. These courses are provided through MOOCs (Massive Open Online Courses). Other online management courses require students to go to a common classroom available in their city. This may also incur additional commuting and parking costs.
While cost-saving is also a deciding feature which makes many students take up an online MBA, it is important to note that saving costs should not be the only criteria worth considering. This type of course requires both time and energy from the students and therefore picking an MBA course with a higher quality of coursework with increase the likelihood of the students finding a good job after the completion of the course.
It is important that a student clarifies all doubts and asks the college offering the course about the total costs of their online course. He can also check about any extra costs apart from the distance MBA fee, from the previous or current students of the program.