How much do the best online MBA programs cost?

The Online MBA market is growing. While the Covid pandemic increased demand for online programs, the trend continues with 56% of programs reporting an increase in 2024, according to the Graduate Management Admission Council (GMAC). 

This year, the annually published US News Online MBA Program ranking showcases 366 business schools, reflecting the widespread availability of Online MBA programs.

Online MBAs tend to cost less than full-time MBAs, as outlined in our Online MBA Guide 2024, and they can be studied without requiring students to quit their jobs or forfeit their salaries. Here, we look at how much the best Online MBA programs in the US cost today. 

Best Online MBA programs

There were a few slight changes in the Online MBA programs listed among the best by US News in 2025, although the top 10 schools largely remained consistent.

In 2025, Indiana University’s Kelley School of Business retained its position at the top of the ranking for the fourth consecutive year, while University of North Carolina's Kenan-Flagler Business School rose from third to second place. Carnegie Mellon’s Tepper School of Business finished in third, down one place from last year. The University of Florida Warrington Graduate School of Business and the University of Washington Foster School of Business were ranked joint fourth by US News. 

This year's significant change was the University of Michigan's Ross School of Business, which climbed 10 positions to rank sixth, up from sixteenth place in 2024.

As in previous years, the 2025 list features several schools tied for places. In the past, this has led to questions over whether the methodology used by US News can sufficiently differentiate schools. Within the top 10, both the University of Florida Warrington Graduate School of Business and the University of Washington Foster School of Business claimed joint fourth. Seventh place was shared by four schools; Arizona State University’s W. P. Carey School of Business, the University of Arizona’s Eller College of Management, the University of Kansas School of Business, and the University of Southern California (USC) Marshall School of Business.  

Unlike other MBA rankings, US News does not survey students or graduates to compile its list, with the data instead collected from business schools themselves. 

US News Online MBA Program Ranking 2025

Online MBA cost

Prices for the top five Online MBA programs range considerably, with Warrington offering an affordable course at $58,000, while Tepper costs substantially more at $147,648. Despite a price increase of 22%, Kelly remains one of the cheaper options at $94,944, while Foster and Kenan-Flagler cost $96,000 and $125,589, respectively. 

Enrolling at USC Marshall also costs a premium, with fees amounting to $125,589. But there are still more affordable options among the rest of the top 10. 

The University of Kansas Business School’s total program cost comes out at $37,590. The fact this school is ranked among the best in the US suggests that price is not indicative of quality when it comes to Online MBAs. 

When choosing a program, students should also consider career progress in terms of salary achieved and salary increase after the program; the strength of the faculty’s teaching and research; and the quality and diversity of the cohort. 

Cheaper tuition fees may increase the return on investment of the degree, which can be calculated by taking the average salary achieved by graduates and deducting the tuition fee. This, of course, will stack up over time.

Beyond Online MBA rankings

There are many affordable Online MBA programs available, both in the US and around the world. Since Online MBAs have become a well-established option in business education, it is likely that more cost-effective options will continue to emerge in the future. 

The cheapest programs to be included in the US ranking this year were Texas A&M University-Corpus Christi Business School at $6,016 and the University of Texas Permian Basin College of Business at $8,246. 

While the pandemic initially elevated Online MBAs to new heights, it's clear that they remain a viable option for students looking for flexibility and more manageable funding options. If you want a cheaper, more flexible MBA experience, an Online MBA could be your best option.

This article was first published in January 2020 and updated in January 2025.