MBA FEES IN THE USA

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MBA Fees in the USA – There are approximately 553 MBA institutions in the United States.  Out of these approx 288 are publicly funded, while the remaining are profit-oriented (private). The MBA program in the United States is among the most popular globally. According to the US Department of Education, the United States has the world’s biggest market for B-Schools, with over 1,25,000 students attending MBA each year. The large number should not deter you, as the US economy can accumulate many MBA graduates seeking better prospects.

An MBA enhances the technical, administrative, and leadership abilities and ensures a prosperous future and develops a student’s overall individuality. MBA fees in the United States of America, for Indian students could reach up to $10 million also.

 

                FACTORS                       PARTICULARS
No. of MBA Colleges in the USAApproximately 550
Cost of MBA in the USALiving Expenses: 10 Lakhs approx. (annually)
Tuition Cost: 20 Lakhs to 60 Lakhs (per year)
Top SpecializationsFinance, Entrepreneurship, Operations Management, Consulting, Information Systems/Technology
Exams RequiredGMAT/GRE, TOEFL/IELTS

 

MBA eligibility requirements may differ from one college to the next. The following are the basic admission criteria for MBA programs:

  • A bachelor’s degree or similar course from an esteemed university in any discipline.
  • A bachelor’s degree or equivalent with a minimum score of 75% GMAT score of 600+ CGPA
  • A minimum of two to three years of work experience is required or recommended by most universities.

For some, studying MBA in the United States can be prohibitively expensive; however, numerous well-known scholarships provide tuition aid. Since many universities in the USA do not give a fee waiver, Indian students apply for scholarships (the tuition fee can be too out of budget for some families). A student visa in the United States costs around 38,084 INR. To study a program that needs at least 18 or more hours of study in a week, students typically need an F1 visa. An F1 visa costs around 16,300 INR in SEVIS. This visa also permits Indian students to work part-time or on-campus jobs while pursuing their MBA.

Students with F1 visas can stay in the United States for an additional 60 days after completing their course. IELTS and TOEFL are the most commonly accepted language ability tests by American Universities. Some colleges and universities accept PTE also. IELTS, TOEFL, and PTE registration fees average 17,922, 14,935, and 13,300, respectively.

For MBA programs in the United States, the GMAT is widely accepted. The minimum requirement is 600, but some schools may accept GRE scores. The GMAT registration fee is 18,700 INR, while the GRE registration fee is 19,000 INR.

 

Following are some of the Top Business/Management Schools in the USA with their fee structure (annually):

           UNIVERSITY              ANNUAL FEE (INR)   
             Stanford             55,75,125 
            Wharton            60,02,845
                 MIT            57,59,245
             Harvard            54,81,198
                 Haas            51,08,321
                Booth            54,81,198
              Kellogg            55,85,039
            Anderson            48,57,957
                  Yale            53,99,661
                 Ross            53,01,282

 

Some of the well-known scholarships that benefit Indian Students are:

  • Havard MBA scholarship
  • Wharton fellowship program
  • Chicago Booth MBA scholarship
  • Kellogg MBA scholarships
  • MIT Sloan MBA scholarship
  • JN Tata Endowment for the higher education of Indians

Students who enrol in universities such as Harvard, MIT Sloan, University of Chicago (BOOTH), Wharton, University of Michigan (Ross), UC Berkeley, UCLA (Anderson), and others can apply for loans from Prodigy Finance. They can also borrow money from banks and non-bank financial institutions with low-interest rates for students.


Also read

STEM MBA in USA | List of programs

Best MS in Business Analytics programs in the USA



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