Top 50 Affordable Business Schools

Choosing an Affordable Business College

Choosing an affordable business college can be a decision that involves many financial considerations, both present and future. First, a student should decide the level of business degree they are looking to achieve. Typically, students will be deciding between an associate’s, bachelor’s, or master’s program. Important factors to weigh in this aspect are the tradeoff between being able to work in the business field sooner or potentially netting a higher annual salary and lifetime earnings with a higher degree.

Students should also be careful to attend schools that have accredited business programs, whether it is recognized by a regional or national accreditation organization. Then, the student will need to decide if they must take out student loans for attending their post-secondary education. Some students may have a difficult time qualifying for certain types of student loans, so answering this question will be paramount to helping one narrow down the most affordable and best-fit educational institution for them. This is a large factor in considering the overall cost of attendance while at school, which should also be considered in light of the student’s post-graduation business career path. For instance, students looking to build careers in more lucrative business roles, like finance and accounting, may be able to justify slightly more expensive tuition and student loan costs for attending a business program.

Afterward, students should decide if they are looking to attend an in-state or out-of-state college, as well as if they are thinking of applying to public or private schools. Generally, in-state public schools will be more affordable than out-of-state public schools. Students who attend private colleges will generally be quoted the same cost of attendance regardless of if they are in- or out-of-state residents. Students can also expect many private colleges and universities to be smaller than public colleges, so students may gain benefits in the form of smaller class sizes and a closer teacher-student relationship if they choose to attend these institutions. On the other hand, students may prefer to attend a larger public university for their business education as having a larger graduation class could also mean more networking opportunities within one’s own class year and a larger alumni base that they can tap into post-graduation. For business schools, location can also be important to facilitate networking and the interview process, so students should also consider if they prefer to attend business school in a more urban environment or if they prefer a quieter school life. It’s important to note, however, that companies will normally tend to recruit either more locally or send representatives to travel to schools in major metropolitan areas that have a well-marketed reputation. This could mean that students attending some smaller business programs or ones that are situated in more rural locales may need to take some extra steps to get connected with potential employers.

Online Options

Attending business programs online instead of in-person in a traditional school setting can be a viable and attractive option. Unlike many science programs where research and lab work are often a requirement for graduation, business programs typically focus on subjects that can be fully mastered through instruction and exams. Students will likely have plenty of flexibility to choose between online business programs at the associate, bachelor’s, and master’s levels since many institutions across the countries offer online options. Teamwork elements of business programs can also be done fully online through video programs like Zoom or Skype and email. Indeed, many business programs are working to train their students to be technologically savvy and to prepare them to work in global teams that may only be able to meet virtually. The content of business classes can vary from program to program, though, so it’s important that students who are thinking of getting their online business degree only attend programs offered by accredited institutions.

Studying business through an online program can provide many additional advantages. For one, many online programs offer flexible instruction times, meaning that students can choose to take classes in the evenings or even attend class asynchronously if they have conflicts during normal class time. This provides students with the ability to take charge of their schedules, taking classes while interning, working part-time, or even working full-time. This can help alleviate the financial burden for many students while also allowing them to gain important work experience that is also a key to standing out to employers after graduation. Furthermore, online programs can be more cost-effective overall, with students saving on both housing and tuition. Specifically, U.S. News found that online programs at private colleges cost an average of $488 per credit hour, while traditional programs cost $1240 per credit hour for the on-campus experience.

Business Graduates Earn More After College

One reason why business careers are so popular is because of the ubiquitous need for organizations around the world and those businesses needs for employees and leaders who understand the world of business, which prompts employers to pay desirable salaries to workers with the necessary management and leadership skills. Salaries in the business field will tend to vary by expertise and experience but starting salaries for positions that can be attained after college can tend to be strong indicators for the lifelong earnings potentials of certain fields. For starters, The Street reported that using data from the fourth quarter of 2019, the average American earns an average annual income of $48,672. In comparison, those with business degrees will tend to earn more, even right out of college. According to Payscale, the average student with a bachelor’s in business administration can expect to earn $65,509 upon graduation. Someone who has a bachelor’s degree in human resources management can expect to earn an average salary of $62,069, while someone who studied marketing in college can earn an average salary of $62,567. A bachelor’s in operations management will typically net a worker an average salary of $76,489 and a bachelor's in finance is also very lucrative, with the average salary coming out to $71,186. As such, it is clear that pursuing business education can lead to post-college employment options that pay well, regardless of the business function area one specializes in.