MBA Study Expenses in US

For what is considered one of the most prestigious and sought after qualifications in the world today, the costs involved are big. An MBA in the US is costlier than in most other countries. While the annual tuition fees in top schools like Harvard, MIT, Kellogg, Wharton, NYU etc varies between $30,000 and $60,000, others cost between $15,000 and $30,000 per year. The tuition fee varies between private (which can cost $15,000 to $60,000 annually) and state schools (between $10,000 and $20,000)

Add to this the living expense which, according to the College Board, varies between $14,050 (low budget) to $20,970 (moderate budget) for a 12-month period in 2007-2008. The breakdown of the living expenses is as follows: housing - 54%, transportation - 20% and miscellaneous - 26%. Living expense cost according to region and metropolitan area are available for guidance.

Medical insurance is mandatory for foreign students. The total cost of an MBA in the US thus depends on the tuition fee of the business school you have chosen, your lifestyle which can make a big difference in the cost of living and the location both of your school as well as your residence.

The total approximate cost for an MBA in Boston University, Virginia, Duke, Yale, Stanford, New York and Columbia exceeds $50,000 for non-resident students. In universities such as Stetson University, the University of Tampa, University of Mississippi, North Carolina State University, Louisiana State University, Georgia Tech, SUNY Buffalo and Brigham Young University, the total costs vary between $15,000 and $20,000.