Tech MBA Online Cost
The two-year Tech MBA Online price includes tuition, hotels, and most meals during the residencies, including the international residency. Our AACSB accredited program is taught by faculty members who also teach in our on-campus program and has additional benefits including: professional development, networking, lifetime access to career advisors, a technology specialist, and a communications coach. This program is competitively priced at $41,000 and cost is evenly divided over six semesters. Once you enroll in the program, the rate is locked in and will not increase. The Tech MBA Online gives you the same quality education you would receive from an on-campus program, with the convenience of distance learning.
Finance Your MBA
According to mba.com, “Students who enter an MBA program expect their degree to, among other things, expand their career options and enhance their earning power. So many variables make up the ROI determination, though, that the exact value of that degree for any given individual is impossible to accurately predict.” That being said, Michigan Tech was recently recognized by Bloomberg Businessweek as a university that “packs an ROI punch.”
Attending graduate business school is an investment in your career and your future. Here are several financial aid opportunities you can explore as you look for ways to pay for your MBA.
- Many graduate students are eligible for a new set of federal loans, up to $20,500 per academic year, as an independent student. Contact Linda Fontaine in Michigan Tech's Financial Aid office, (906) 487-2622, for more information.
- Many employers provide tuition reimbursement for MBA degrees. Contact your employer to see if this benefit is offered in your company and what terms and conditions may apply.
- Graduate students should be sure to seek advice from a tax professional, because they may be eligible for a tax credit for education and/or a business deduction for work-related education. IRS Publication 970 download. If you are currently working, you should be sure to look at the last one, on pages 77-84—Business Deduction for Work Related Education, "maintain or improve job skills." This deduction is up to $4000 per year (and our program runs across 3 years), and has been successfully taken by other MBA students. However, it is considered on a case-by-case basis. They can deduct tuition, travel, and other expenses.
- You may also want to consider putting some money into a 529 College Savings plan. In Michigan’s College Savings Plan, contributions are deductible from Michigan income tax up to specified limits. Withdrawals are federal and state income tax free if you use it for qualified withdrawals. If you are currently employed, your company may consider giving you an education benefit by contributing to the 529 on your behalf. All states have a 529 plan, find more information about 529 plans.
- Explore more options, including veteran's benefits and alternative loans, at the Michigan Tech Graduate School financial aid website.
- Financial assistance information is also available on the official GMAT website.