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Home > MBA Program > MBA - USA > MBA Tuition Fee, Living Cost & Expenses

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MBA Tuition Fee, Living Cost & Expenses


Tuition Fee

US business schools fall under two major categories: 
  -  public (state supported), and 
  -  private (independent) institutions.

International students’ tuition expenses at state schools are based on nonresident costs, which are still usually less expensive than those of private universities. 

It is important to note that the cost of a program in a US school does not necessarily affect its quality. 

A brief idea can be got from the following table:

University Type Tuition Fees (annual in U.S. Dollars)
Private School (High Cost) $ 35,000
Private School (Low Cost) $ 15,000
State School (High Cost) $ 20,000
State School (Low Cost) $ 10,000

The tuition fee is different for different universities and varies widely with courses. It can vary from as low as $ 8000 a year for state universities to as much as $ 35000 per annum for some private universities.

For example, Colorado Technical University offers the MBA program for less than US $ 10,000 a year, while many top schools like Harvard Business School and Wharton Business Schools have a fee structure of around US $ 30,000 per year. 

For more specific details, please check out the university websites or contact the universities.

 

Living Expenses

The approximate annual living expenses during the MBA program is about $14,400, which includes accommodation as well as other daily expenses. However, the expenses are different for different people depending on the lifestyles and this is just a rough idea. The main expenses can be split up as:

Rent
$ 500 per month
(you can live alone with that amount in a place like Auburn or share an apartment with 6 people in NY)
Groceries $ 150 per month
Utilities $ 150 per month
Phone $ 150 per month  (if careful with international calls)
Sundry $ 250 per month

So, about $1200 per month is a good estimation.  Mostly people can survive between $700-$1000 a month.

The key here is to share apartments/houses so that you save on the utilities, fixed charge portion of phone and to some extent on groceries.

Note: The approximate currency exchange rate is: 1 US $ = Rs. 54
For the latest conversion rates, Check out http://finance.yahoo.com/m3

 



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