If you are one of the candidates looking for detailed information about Average Cost of MBA from USA, then go through the article below.
Many students dream to study in a country like the USA. But many times students kill their dreams as they are scared of the expenses that they are going to face while studying in the USA. Costs involved in doing MBA from the USA is considered to be an important criterion for those students who are nurturing their dream to pursue higher education in America. It must be noted that the total cost is a sum of tuition fee charged by the university along with living expenses. The average total cost of pursuing two-year masters in business administration is about U.S. $40,000.
Average Cost of MBA from USA: Now Calculate total Expenses
This figure cannot be considered to be an exact one as it may vary from one college to another. The cost of studying is largely variable in case of public and private institutions. In the case of private institutions, the average annual tuition fee ranges between U.S. $15,000 and U.S. $25,000. In-state colleges, figures go down by U.S. $5,000 each.
Apart from spending on education, you are supposed to take into consideration the living expenses. The cost of MBA from USA varies on the basis of place and school chosen for going. Most internationals who study MBA reside with friends by sharing apartments. The cost of living for a month may vary anywhere from U.S. $300 to U.S. $1,000 on the basis of the way you lead your life.
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Living Expenses in the USA
- Apartment Rent – $75 to $200/month (Can’t avoid it. More roommates = less rent)
- Electricity – $10 to $25/month
- Food – 150+/month (Depends on Eating Habits)
- Laptop – $450 – $1,500 (One time investment)
- Cell phone – $35 to $70(iPhone costs more, landline not required)
- Public transportation – $30 (usually for students it’s free)
- Books/Textbooks – $50 – $150/quarter (Get books from friends or buy used books)
- Shopping/travel – $20 to $50/month (It varies)
- Calling cards – $5 to $20/month (free – Skype, GTalk, etc.)
- Car – $1,500 – $3,000
- Car maintenance – $80 to $100/month (Includes – insurance, gas, service, parking)
Moderate Lifestyle – Lead towards a Moderate Cost
If you lead a moderate lifestyle, the cost will definitely be a moderate one and vice versa. In general, it has been found that the living expenses vary from U.S.
- $1,500 to U.S. $5, 000 for a semester. A semester consumes a time of about five months to get concluded in a proper manner. To save money on living expenses, you need to apply to those schools that are situated in smaller towns rather than going for big cities.
Far from City, Less the Living Cost
You may also prefer to have a roommate as the living rent may get divided. But try your best not to have a number of companions as it leads to chaos. The financial situation must be deeply considered while going for preferences. To apply for cheaper schools, it is good to be confident enough to score well for availing scholarships.
Also, at the time of applying, it is good to compare the tuition fees of the chosen institution with that of others. Totally avoiding private schools are not recommended. But to get MBA degree at less cost, it is better to go for scholarship offers. You may apply to state schools in smaller towns or suburbs of cities. Far from the city, less is the cost.
So, now that you have got the idea of the cost of MBA in the USA, you can prepare yourself to grow your seeds of dreams into big ones.
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