Earning an MBA in Healthcare Administration online saves working professionals time and money. The savings over on-campus programs can be significant.
Invest in the Core Expenses of Your Education and Nothing More
Just a few short years ago, professionals would have to leave their jobs for two years to complete an MBA in Healthcare Administration in an on-campus program. To support the overhead (buildings, utilities, and even sports and social programs that had little to do with academics) of on-campus programs, high tuition rates were the norm.
Due to high tuition, room, board, and other costs, on-campus MBA students today commonly accumulate between $100,000 and $200,000 in debt and expenses, according to Investopedia. These can include thousands of dollars in transportation expenses, including gas, tolls, repairs, maintenance and the depreciation of a vehicle. They may also include incidental expenses like eating out or stopping for coffee while traveling to and from school.
In many cases, the opportunity costs of leaving a job exceed students' annual educational expenses. Bloomberg Businessweek estimates the average forgone wages for professionals in on-campus programs to be $120,000. The absence of a paycheck for on-campus students is also compounded by lost opportunities for promotions and raises, as well as the interest that could be accrued in 401(k)s and other investments.
All told, the potential high rewards of earning an MBA on campus are offset by the high levels of risk involved, from financial losses to relocating families.
Online Delivery Is a Cost-Effective Option
The Texas A&M University-Corpus Christi Online Master of Business Administration with a Concentration in Healthcare Administration dramatically reduces the outlay of time and expense for working professionals. This accelerated 10-course program can be completed in as few as 12 months, which minimizes lost wages. Up to four additional courses may be required for applicants with non-business undergraduate degrees. Many students continue to work as they earn this degree, which eliminates the loss of wages.
Courses are compressed into a 7-week time frame, with students typically taking two courses at a time. Because of the strong state and regional need for graduates, tuition is just $14,184 for in-state Texas students and $28,764 for out-of-state students. All of the same financial aid opportunities available to on-campus students, including scholarships and loans, are available to students in this program.
The College of Business is accredited by AACSB International in both Accounting and Business, a distinction held by only 1 percent of business schools worldwide. This distinction applies to both on-campus and online degree programs. TAMU-CC was recently listed as a top one-year online master's program in a 2016 listing by Bestmastersdegrees.com. The academic quality and rigor that these accolades demonstrate make this program essential to the development of Texas' healthcare workforce, and it is highly valued among employers.
While many people worry about the rising costs of higher education pricing them out of their best chance for career advancement, the problem for healthcare professionals has been solved by TAMU-CC Online.
Learn more about the TAMU-CC online MBA with a Concentration in Healthcare Administration program.
Sources:Bloomberg Businessweek: The Real Cost of an MBA
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