MBA News: Tuition Costs on the Rise at Top-Rated MBA Programs

Attending a high-ranking business school has just gotten a little pricier for some. According to Bloomberg Businessweek, approximately one-half of the MBA programs included in the top 20 of the publication’s ranking have announced tuition hikes for the 2015–2016 academic year. Of these programs, the Robert H. Smith School of Business at the University of Maryland reported the most notable tuition increase—up 9.9% for out-of-state students. The cost of pursuing an MBA at Indiana University’s Kelley School of Business and Duke University’s Fuqua School of Business has also grown. Candidates planning to attend Kelley will have to pay approximately 4.5% more than students did last year, and at Fuqua, tuition has risen by approximately 4.4%.

Of course, fairly significant variations in program costs already existed among the Bloomberg Businessweek top 20 schools. While the priciest of that group is the MIT Sloan School of Management—with a projected cost of $65,750 for the upcoming academic year—the school raised its tuition by a comparatively low 3.1%. Cornell University’s Samuel Curtis Johnson Graduate School of Management has thus far reported the smallest increase, 2.2%, bringing its tuition to $59,500 for next year. Yet as Bloomberg Businessweek notes, these escalating costs do not seem to have deterred applicants—the Graduate Management Admission Council reported that 62% of two-year, full-time MBA programs saw an increase in applications during the 2013–2014 admissions season.

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