Just a few short years ago, it was common to see politicians gnash their teeth about the rising costs of higher education. Indeed, tuition, housing, books and the ancillary costs of pursuing a university degree had priced many people out of an education. Often, professionals who would have pursued an MBA could not afford the fees or the time away from work. Fortunately, the times are changing.
The Real Costs of a Traditional Healthcare Administration MBA
According to Bloomberg, the average MBA debt for new graduates is $53,000. That estimate is conservative, considering that the real cost of an average MBA is $248,000. This figure includes everything from foregone wages and the costs of tuition, room, board, meals and books to transportation costs including gas, tolls, higher insurance premiums, maintenance, repairs, depreciation and parking fees. Most of these expenses add no value to an education. These costs have been calculated by Investopedia, which estimates that debt rises into the six figures for many MBA students, especially those in private schools.
For working professionals, the opportunity costs of putting a career on hold, coupled with the outlays of commuting to school often exceed six figures. Lost income is significant for professionals in their 20s through their 40s. The absence of a paycheck for an on-campus MBA student is exacerbated by lost opportunities for promotions and raises, not to mention the loss of interest that could compound in 401ks and other investments. MBA students in traditional programs graduate into a field in which they have lost two years of career and financial advancement relative to their peers.
The Accelerated Online Option Reduces These Costs to a Fraction
If you are considering an MBA in Healthcare Administration, take a few minutes to calculate all of these costs and compare them with those of the Texas A&M University-Corpus Christi accelerated online program. Students with a Bachelor of Business Administration degree can complete the 10-course Healthcare Administration MBA program in just 12 months, which minimizes forgone wages. Up to four additional courses may be required for applicants with other undergraduate degrees. Furthermore, many students choose to work as they earn this degree, which eliminates loss of wages.
Courses are compressed into a seven-week time frame, and students typically take two courses at a time. Tuition is just $14,776.44 for in-state Texas students. Out-of-state students will get the same tuition rate thanks to a special voucher.
Reduce Your Expenses With Financial Aid
In accredited online programs, students have access to the same financial aid options available on campus. Texas A&M University-Corpus Christi works with students to locate financial aid opportunities, including scholarships and loans to meet their individual needs. Given the low cost of tuition and the availability of loans and scholarships, there is little need to wait to begin this program.
The TAMU-CC Online MBA with a Concentration in Healthcare Administration delivers the prestige of a state university, the accreditation industry employers seek, and a value proposition few traditional or online programs can match.
Learn more about the TAMU-CC online MBA with a Concentration in Healthcare Administration.
Sources:
Investopedia: The Real Cost of an MBA
Bloomberg Businessweek: The Real Cost of an MBA
U.S. News & World Report: Online Master’s Degree in Health Care Administration
U.S. News & World Report: Best Health Care Management Programs
