The cost of an MBA program is a critical factor for many prospective students, and the George Mason University (GMU) MBA program is no exception. Located in Fairfax, Virginia, GMU’s School of Business offers a highly regarded MBA program that is designed to provide students with the knowledge, skills, and networking opportunities needed to succeed in today’s fast-paced business environment.
Tuition and Fees
The tuition and fees for the GMU MBA program vary depending on the student’s residency status and the number of credits taken per semester. For the 2022-2023 academic year, the estimated tuition and fees for the GMU MBA program are as follows:
- Virginia residents:
- Tuition: $747 per credit hour
- Fees: $147 per credit hour
- Total: $894 per credit hour
- Non-Virginia residents:
- Tuition: $1,485 per credit hour
- Fees: $147 per credit hour
- Total: $1,632 per credit hour
The GMU MBA program requires a minimum of 48 credit hours to complete, and most students complete the program in two years. Based on these estimates, the total tuition and fees for the GMU MBA program would be:
- Virginia residents: 42,912 (48 credit hours x 894 per credit hour)
- Non-Virginia residents: 78,336 (48 credit hours x 1,632 per credit hour)
Additional Costs
In addition to tuition and fees, GMU MBA students should also consider the following additional costs:
- Books and materials: 1,000 - 2,000 per year
- Parking and transportation: 1,000 - 2,000 per year
- Living expenses: 15,000 - 25,000 per year (depending on lifestyle and location)
- Healthcare insurance: 1,500 - 3,000 per year (optional)
Financial Aid and Scholarships
GMU offers a range of financial aid and scholarship opportunities to help MBA students fund their education. These include:
- Merit-based scholarships: GMU offers scholarships to highly qualified MBA students based on their academic achievement, work experience, and other factors.
- Need-based financial aid: GMU offers need-based financial aid to MBA students who demonstrate financial need.
- Graduate assistantships: GMU offers graduate assistantships to MBA students who are interested in working as research or teaching assistants.
- Loans: GMU offers loans to MBA students who need additional funding to complete their program.
Return on Investment
While the cost of an MBA program is a significant investment, it can also provide a strong return on investment (ROI) in terms of career advancement and salary potential. According to GMU’s career services, the average salary for GMU MBA graduates is around 80,000 - 100,000 per year, with some graduates earning salaries upwards of $150,000 per year.
In terms of ROI, a study by Forbes found that the GMU MBA program offers a strong return on investment, with graduates earning an average ROI of 25% - 30% per year.
Conclusion
The GMU MBA program offers a high-quality education and strong career prospects, but it also comes with a significant price tag. Prospective students should carefully consider the costs and benefits of the program, as well as their own financial situation and career goals, before making a decision. With careful planning and financial management, however, the GMU MBA program can provide a strong return on investment and a lifelong career advantage.
What is the tuition for the GMU MBA program?
+The tuition for the GMU MBA program varies depending on residency status and the number of credits taken per semester. For the 2022-2023 academic year, the estimated tuition and fees for Virginia residents are 894 per credit hour, and for non-Virginia residents, the estimated tuition and fees are 1,632 per credit hour.
How long does it take to complete the GMU MBA program?
+The GMU MBA program requires a minimum of 48 credit hours to complete, and most students complete the program in two years.
What are the additional costs associated with the GMU MBA program?
+In addition to tuition and fees, GMU MBA students should also consider the costs of books and materials, parking and transportation, living expenses, and healthcare insurance.
