Best Online MBA Programs: No GMAT Required
Not all online MBA programs require you to take the GMAT.
We rank the best-value online MBA programs with GMAT waiver options or no GMAT requirement.
The online MBAs with the lowest graduate debt are also listed.
If you’re applying to online master’s of business administration (MBA) programs, you’ll probably know about the Graduate Management Admission Test (GMAT). A growing number of quality business schools have removed their GMAT requirement altogether or are waiving it for applicants who fulfill other admissions criteria. This is great news for anyone with bad GMAT scores or a lack of time and money to take the test.
What is the GMAT?
- Costs $250 to register.
- Takes around 3 hours and 30 minutes to complete.
- Made up of 79 questions spread across quantitative, verbal, and integrated reasoning sections; it also includes an analytical writing assessment.
- Scores range between 200 and 800.
- The average GMAT score in 2021 was 658.
- You’ll need a higher GMAT score if you want to attend a more prestigious school.
Here we rank the top accredited online MBAs with GMAT waiver options or no GMAT requirements at all. We used our economic score metric to find the best-value programs. We found 255 online MBA programs that are accredited by the AACSB or the ACBSP, which are the two main business school accreditation councils. 201 of these programs have enough information about graduate outcomes to generate an economic score.
How we compare value
We use these 3 key metrics to analyze the return on investment offered by different master’s programs:
- Debt-to-earnings ratio compares total debt against annual earnings 3 years after graduation – a ratio of 0.5 would indicate a debt level of 50% of their earnings, and so on.
- EarningsPlus tells you how much more graduates at a certain master’s program earn compared to the average MBA grad, or “benchmark”.
- Economic score (ES) combines debt-to-earnings ratio and EarningsPlus into a single figure – the lower, the better.
For more details, see our methodology.
What is an MBA with no GMAT?
Some colleges will not consider your GMAT scores at all, while others make submitting them optional. It’s becoming more common for MBA programs to not ask applicants for their GMAT scores, which is why in 2021 there were roughly 40,000 GMAT test takers in the US, compared to 80,000 in 2017.
There are, however, some benefits to submitting a GMAT score if a particular school makes this an option, and you have the time and money to take the test. Submitting a strong GMAT score can:
- Strengthen an application if you have a low GPA.
- Pay off financially, as some colleges, like Florida Southern University, offer financial incentives for applicants who submit their GMAT score (even though it’s optional).
Top 10 online MBA programs: no GMAT requirements
Virginia Polytechnic Institute and State University
Blacksburg, Virginia
The Economic Score is the combination of debt-to-earnings ratio and earningsplus. We use the economic score to determine a graduate program’s rank. The lower the economic score the better. For an analysis of how we arrive at the economic score, and a description of our data sources, please visit our methodology page.
Median earnings of all students 3 years after graduating.
EarningsPlus compares student earnings after college against a benchmark of all students with the same graduate degree, adjusting for the in-state / out-of-state composition of the student body.
The total debt accrued by the median student at the time of graduation.
The debt-to-earnings ratio is calculated by dividing student debt upon graduation by the annual salary. A debt to earnings ratio of 1 means that annual educational debt is the same as annual earnings.
Virginia Tech, a renowned public research university, offers an online MBA tailored for working professionals. The program combines 50% asynchronous coursework and 50% synchronous virtual meetings. Students can choose from a variety of tracks, including cybersecurity, healthcare IT, and entrepreneurship. Degree completion requires a capstone project or global immersion experience. The program is entirely online but students are encouraged to join the wider Virginia Tech community at in-person events on campus.
Western Governors University
Millcreek, Utah
The Economic Score is the combination of debt-to-earnings ratio and earningsplus. We use the economic score to determine a graduate program’s rank. The lower the economic score the better. For an analysis of how we arrive at the economic score, and a description of our data sources, please visit our methodology page.
Median earnings of all students 3 years after graduating.
EarningsPlus compares student earnings after college against a benchmark of all students with the same graduate degree, adjusting for the in-state / out-of-state composition of the student body.
The total debt accrued by the median student at the time of graduation.
The debt-to-earnings ratio is calculated by dividing student debt upon graduation by the annual salary. A debt to earnings ratio of 1 means that annual educational debt is the same as annual earnings.
Western Governors University (WGU) is a private, non-profit, online university founded by 19 U.S. governors in 1997. It is among the most respected online universities in the country. The WGU online MBA program covers essential business topics such as financial management, data-driven decision-making, organizational leadership, and strategic innovation. WGU’s competency-based approach allows students to progress through the program by demonstrating their knowledge and skills in specific areas, providing a personalized and efficient learning experience.
WGU is known for its affordable tuition and flexibility, offering a flat-rate tuition model that allows students to complete as many courses as they can within a 6-month term.
George Mason University
Fairfax County, Virginia
The Economic Score is the combination of debt-to-earnings ratio and earningsplus. We use the economic score to determine a graduate program’s rank. The lower the economic score the better. For an analysis of how we arrive at the economic score, and a description of our data sources, please visit our methodology page.
Median earnings of all students 3 years after graduating.
EarningsPlus compares student earnings after college against a benchmark of all students with the same graduate degree, adjusting for the in-state / out-of-state composition of the student body.
The total debt accrued by the median student at the time of graduation.
The debt-to-earnings ratio is calculated by dividing student debt upon graduation by the annual salary. A debt to earnings ratio of 1 means that annual educational debt is the same as annual earnings.
George Mason University’s online MBA program focuses on developing essential business skills in a flexible format. Accredited by the AACSB, the curriculum covers key disciplines while offering elective options tailored to individual interests.
The following 4 areas of study are emphasized:
- collaborative communication and leadership
- knowledge of functional business disciplines
- analytical decision making
- contemporary issues in business
GMU’s online MBA offers an asynchronous format, personalized academic advising, and networking opportunities. Students may also participate in global residency programs to gain international perspectives.
Drake University
Des Moines, Iowa
The Economic Score is the combination of debt-to-earnings ratio and earningsplus. We use the economic score to determine a graduate program’s rank. The lower the economic score the better. For an analysis of how we arrive at the economic score, and a description of our data sources, please visit our methodology page.
Median earnings of all students 3 years after graduating.
EarningsPlus compares student earnings after college against a benchmark of all students with the same graduate degree, adjusting for the in-state / out-of-state composition of the student body.
The total debt accrued by the median student at the time of graduation.
The debt-to-earnings ratio is calculated by dividing student debt upon graduation by the annual salary. A debt to earnings ratio of 1 means that annual educational debt is the same as annual earnings.
Drake University’s online MBA program offers a comprehensive and flexible education, designed for working professionals seeking to enhance their business skills. Students can tailor their learning experience by choosing from a range of areas of emphasis to match their career goals.
Key areas of emphasis include:
- Accounting
- Business Analytics
- Health Care Management
- Cybersecurity
- Leadership & Human Capital Development
- Public and Nonprofit Management
The program’s asynchronous format allows students to access course materials and engage in discussions at their convenience. Drake University provides personalized academic advising, networking opportunities, and access to various resources.
University of South Dakota
Vermillion, South Dakota
The Economic Score is the combination of debt-to-earnings ratio and earningsplus. We use the economic score to determine a graduate program’s rank. The lower the economic score the better. For an analysis of how we arrive at the economic score, and a description of our data sources, please visit our methodology page.
Median earnings of all students 3 years after graduating.
EarningsPlus compares student earnings after college against a benchmark of all students with the same graduate degree, adjusting for the in-state / out-of-state composition of the student body.
The total debt accrued by the median student at the time of graduation.
The debt-to-earnings ratio is calculated by dividing student debt upon graduation by the annual salary. A debt to earnings ratio of 1 means that annual educational debt is the same as annual earnings.
The University of South Dakota’s online MBA program delivers a versatile and well-rounded education, created for working professionals aiming to advance their business expertise. Learners can adapt their educational experience by selecting from an array of specializations, including:
- Business Analytics
- Finance
- Health Services Administration
- Marketing
- Operations & Supply Chain Management
The program’s asynchronous structure permits students to access learning materials and join discussions at suitable times. The University of South Dakota fosters student achievement by providing customized academic guidance, opportunities for networking, and a variety of resources.
Johns Hopkins University
Baltimore, Maryland
The Economic Score is the combination of debt-to-earnings ratio and earningsplus. We use the economic score to determine a graduate program’s rank. The lower the economic score the better. For an analysis of how we arrive at the economic score, and a description of our data sources, please visit our methodology page.
Median earnings of all students 3 years after graduating.
EarningsPlus compares student earnings after college against a benchmark of all students with the same graduate degree, adjusting for the in-state / out-of-state composition of the student body.
The total debt accrued by the median student at the time of graduation.
The debt-to-earnings ratio is calculated by dividing student debt upon graduation by the annual salary. A debt to earnings ratio of 1 means that annual educational debt is the same as annual earnings.
As a distinguished private research university, Johns Hopkins offers an online MBA program tailored to accommodate the schedules of working professionals. The curriculum balances asynchronous coursework with synchronous virtual interactions and maintains the high standards associated with the prestigious Johns Hopkins name. Students can pursue diverse concentrations, including financial businesses, healthcare management, or entrepreneurship. Degree completion involves undertaking a capstone project or an immersive learning experience. Although the program is entirely online, students have the opportunity to engage with the wider Johns Hopkins community through in-person events held on campus.
Worcester Polytechnic Institute
Worcester, Massachusetts
The Economic Score is the combination of debt-to-earnings ratio and earningsplus. We use the economic score to determine a graduate program’s rank. The lower the economic score the better. For an analysis of how we arrive at the economic score, and a description of our data sources, please visit our methodology page.
Median earnings of all students 3 years after graduating.
EarningsPlus compares student earnings after college against a benchmark of all students with the same graduate degree, adjusting for the in-state / out-of-state composition of the student body.
The total debt accrued by the median student at the time of graduation.
The debt-to-earnings ratio is calculated by dividing student debt upon graduation by the annual salary. A debt to earnings ratio of 1 means that annual educational debt is the same as annual earnings.
The WPI Business School provides a 2-year online MBA program that is tech-focused and designed to teach you the core principles of business leadership at the intersection of business and technology. With a choice of 7 focus areas and 18 specializations, including analytics, finance, marketing, and operations, you can customize your education to meet your career goals. The program is flexible and fully online, allowing you to balance your studies with your professional and personal commitments.
Rowan University
Glassboro, New Jersey
The Economic Score is the combination of debt-to-earnings ratio and earningsplus. We use the economic score to determine a graduate program’s rank. The lower the economic score the better. For an analysis of how we arrive at the economic score, and a description of our data sources, please visit our methodology page.
Median earnings of all students 3 years after graduating.
EarningsPlus compares student earnings after college against a benchmark of all students with the same graduate degree, adjusting for the in-state / out-of-state composition of the student body.
The total debt accrued by the median student at the time of graduation.
The debt-to-earnings ratio is calculated by dividing student debt upon graduation by the annual salary. A debt to earnings ratio of 1 means that annual educational debt is the same as annual earnings.
Rowan University’s online MBA program is designed for busy professionals who seek a flexible and convenient way to advance their business careers. The program allows students to choose two related concentrations for significant depth, two distinct concentrations for broader knowledge, or one concentration and three elective courses to gain a wide perspective from varying disciplines. Concentration options include cannabis commercialization, entrepreneurship, and finance. The MBA is also available in face-to-face format via evening classes on Rowan’s main campus in Glassboro, NJ.
Kettering University
Flint, Michigan
The Economic Score is the combination of debt-to-earnings ratio and earningsplus. We use the economic score to determine a graduate program’s rank. The lower the economic score the better. For an analysis of how we arrive at the economic score, and a description of our data sources, please visit our methodology page.
Median earnings of all students 3 years after graduating.
EarningsPlus compares student earnings after college against a benchmark of all students with the same graduate degree, adjusting for the in-state / out-of-state composition of the student body.
The total debt accrued by the median student at the time of graduation.
The debt-to-earnings ratio is calculated by dividing student debt upon graduation by the annual salary. A debt to earnings ratio of 1 means that annual educational debt is the same as annual earnings.
Kettering University’s online MBA offers a rigorous curriculum that emphasizes innovation and entrepreneurship, providing students with the knowledge and tools to identify and capitalize on new business opportunities. The 40-credit hour program includes 7 core courses and 6 graduate certificates, such as Global Leadership or Supply Chain Management. The program is 100% online, and students can begin at any of the eight starting points throughout the year. Financial aid and military benefits are available to qualifying students. The program can be completed in 18 months.
University of Southern Indiana
Evansville, Indiana
The Economic Score is the combination of debt-to-earnings ratio and earningsplus. We use the economic score to determine a graduate program’s rank. The lower the economic score the better. For an analysis of how we arrive at the economic score, and a description of our data sources, please visit our methodology page.
Median earnings of all students 3 years after graduating.
EarningsPlus compares student earnings after college against a benchmark of all students with the same graduate degree, adjusting for the in-state / out-of-state composition of the student body.
The total debt accrued by the median student at the time of graduation.
The debt-to-earnings ratio is calculated by dividing student debt upon graduation by the annual salary. A debt to earnings ratio of 1 means that annual educational debt is the same as annual earnings.
The online MBA at University of Southern Indiana offers an affordable and flexible option for students seeking to advance their careers in business. The programs are entirely online, and students can complete their degree in as little as 11 months. The program offers multiple business concentrations, such as accounting, data analytics, and engineering management, allowing students to tailor their education to their career goals.
What is a GMAT waiver?
Some colleges that ask you to submit a GMAT score may waive this requirement under certain conditions. These schools will either ask you to submit a GMAT waiver request yourself, or they’ll automatically waive it if you apply to the program with relevant transcripts and supporting documents. The circumstances in which they might waive the GMAT score requirement can include the following:
- You have a GPA of 3.0 or higher.
- You have experience working in business, usually 5 or more years.
- You qualify for a specific waiver condition at certain colleges, such as those offering GMAT waivers to workers who were laid off from their tech jobs.
Top 10 online MBA programs: GMAT waivers
Frostburg State University
Frostburg, Maryland
The Economic Score is the combination of debt-to-earnings ratio and earningsplus. We use the economic score to determine a graduate program’s rank. The lower the economic score the better. For an analysis of how we arrive at the economic score, and a description of our data sources, please visit our methodology page.
Median earnings of all students 3 years after graduating.
EarningsPlus compares student earnings after college against a benchmark of all students with the same graduate degree, adjusting for the in-state / out-of-state composition of the student body.
The total debt accrued by the median student at the time of graduation.
The debt-to-earnings ratio is calculated by dividing student debt upon graduation by the annual salary. A debt to earnings ratio of 1 means that annual educational debt is the same as annual earnings.
Frostburg State University’s online MBA provides students with a solid foundation in business administration. This program is designed to be completed in 18-24 months and can be taken entirely online. The curriculum covers a wide range of topics including accounting, finance, marketing, operations, and management. Students can also choose to specialize in one of three concentrations: Healthcare Management, Business Analytics, or Management. The program operates on a 7-week course model, with 6 intakes per year.
James Madison University
Harrisonburg, Virginia
The Economic Score is the combination of debt-to-earnings ratio and earningsplus. We use the economic score to determine a graduate program’s rank. The lower the economic score the better. For an analysis of how we arrive at the economic score, and a description of our data sources, please visit our methodology page.
Median earnings of all students 3 years after graduating.
EarningsPlus compares student earnings after college against a benchmark of all students with the same graduate degree, adjusting for the in-state / out-of-state composition of the student body.
The total debt accrued by the median student at the time of graduation.
The debt-to-earnings ratio is calculated by dividing student debt upon graduation by the annual salary. A debt to earnings ratio of 1 means that annual educational debt is the same as annual earnings.
James Madison University offers a comprehensive online MBA program designed to provide students with the knowledge and skills needed to succeed in today’s global business environment. This program features a flexible curriculum that covers topics such as accounting, finance, marketing, management, and more. Additionally, JMU’s online MBA program offers 3 concentrations:
- Executive Leadership
- Information Security
- Innovation
JMU is accredited by the AACSB, ensuring the highest quality of business education.
Emporia State University
Emporia, Kansas
The Economic Score is the combination of debt-to-earnings ratio and earningsplus. We use the economic score to determine a graduate program’s rank. The lower the economic score the better. For an analysis of how we arrive at the economic score, and a description of our data sources, please visit our methodology page.
Median earnings of all students 3 years after graduating.
EarningsPlus compares student earnings after college against a benchmark of all students with the same graduate degree, adjusting for the in-state / out-of-state composition of the student body.
The total debt accrued by the median student at the time of graduation.
The debt-to-earnings ratio is calculated by dividing student debt upon graduation by the annual salary. A debt to earnings ratio of 1 means that annual educational debt is the same as annual earnings.
Emporia State University’s online MBA is delivered in an accelerated, 7-week format. This program offers a flexible curriculum that covers core business topics such as accounting, finance, marketing, management, and more. Note that if you don’t hold an undergraduate business degree, you must take an additional 6 credit hours of foundation courses. Students can choose from three concentrations: Accounting, Information Systems, or Marketing.
University of Louisiana at Monroe
Monroe, Louisiana
The Economic Score is the combination of debt-to-earnings ratio and earningsplus. We use the economic score to determine a graduate program’s rank. The lower the economic score the better. For an analysis of how we arrive at the economic score, and a description of our data sources, please visit our methodology page.
Median earnings of all students 3 years after graduating.
EarningsPlus compares student earnings after college against a benchmark of all students with the same graduate degree, adjusting for the in-state / out-of-state composition of the student body.
The total debt accrued by the median student at the time of graduation.
The debt-to-earnings ratio is calculated by dividing student debt upon graduation by the annual salary. A debt to earnings ratio of 1 means that annual educational debt is the same as annual earnings.
The University of Louisiana at Monroe offers an online MBA program designed to prepare students for leadership roles in the business world. This program covers core business topics such as accounting, finance, marketing, management, and more, and is taught by experienced faculty members who are experts in their fields. The online format provides students with the flexibility to complete their degree at their own pace, while still receiving a high-quality business education.
Auburn University
Auburn, Alabama
The Economic Score is the combination of debt-to-earnings ratio and earningsplus. We use the economic score to determine a graduate program’s rank. The lower the economic score the better. For an analysis of how we arrive at the economic score, and a description of our data sources, please visit our methodology page.
Median earnings of all students 3 years after graduating.
EarningsPlus compares student earnings after college against a benchmark of all students with the same graduate degree, adjusting for the in-state / out-of-state composition of the student body.
The total debt accrued by the median student at the time of graduation.
The debt-to-earnings ratio is calculated by dividing student debt upon graduation by the annual salary. A debt to earnings ratio of 1 means that annual educational debt is the same as annual earnings.
Auburn University’s online MBA program includes 9 core business courses and 4 electives. Students can progress through the degree at their own pace up to 6 years. The program is AACSB-accredited, ensuring a high-quality education that meets the highest standards of business education. Several concentrations are available, including Finance, Information Systems, and Business Analytics, and students have access to a dedicated career services center that provides support with job search strategies and interview preparation.
University of Hartford
West Hartford, Connecticut
The Economic Score is the combination of debt-to-earnings ratio and earningsplus. We use the economic score to determine a graduate program’s rank. The lower the economic score the better. For an analysis of how we arrive at the economic score, and a description of our data sources, please visit our methodology page.
Median earnings of all students 3 years after graduating.
EarningsPlus compares student earnings after college against a benchmark of all students with the same graduate degree, adjusting for the in-state / out-of-state composition of the student body.
The total debt accrued by the median student at the time of graduation.
The debt-to-earnings ratio is calculated by dividing student debt upon graduation by the annual salary. A debt to earnings ratio of 1 means that annual educational debt is the same as annual earnings.
The University of Hartford’s online MBA program requires completion of 12 classes for a total of 36 credits. The program offers 11 concentrations:
- Accounting
- Business Analytics
- Entrepreneurial Studies
- Finance
- Healthcare Management
- International Business
- Management
- Marketing
- Project Management
- Risk Management and Insurance
- Supply Chain Management
Southeast Missouri State University
Cape Girardeau, Missouri
The Economic Score is the combination of debt-to-earnings ratio and earningsplus. We use the economic score to determine a graduate program’s rank. The lower the economic score the better. For an analysis of how we arrive at the economic score, and a description of our data sources, please visit our methodology page.
Median earnings of all students 3 years after graduating.
EarningsPlus compares student earnings after college against a benchmark of all students with the same graduate degree, adjusting for the in-state / out-of-state composition of the student body.
The total debt accrued by the median student at the time of graduation.
The debt-to-earnings ratio is calculated by dividing student debt upon graduation by the annual salary. A debt to earnings ratio of 1 means that annual educational debt is the same as annual earnings.
Southeast Missouri State University’s Online MBA program has a 33-credit hour curriculum with 6 concentrations: General Management, Sport Management, Healthcare Administration, Entrepreneurship, Marketing, and International Business. The program offers six start dates throughout the year, enabling students to begin their studies at their convenience.
Mississippi State University
Starkville, Mississippi
The Economic Score is the combination of debt-to-earnings ratio and earningsplus. We use the economic score to determine a graduate program’s rank. The lower the economic score the better. For an analysis of how we arrive at the economic score, and a description of our data sources, please visit our methodology page.
Median earnings of all students 3 years after graduating.
EarningsPlus compares student earnings after college against a benchmark of all students with the same graduate degree, adjusting for the in-state / out-of-state composition of the student body.
The total debt accrued by the median student at the time of graduation.
The debt-to-earnings ratio is calculated by dividing student debt upon graduation by the annual salary. A debt to earnings ratio of 1 means that annual educational debt is the same as annual earnings.
Mississippi State University’s Online MBA program, accredited by AACSB International, is designed to provide a flexible and engaging educational experience for working professionals. The 30-credit hour curriculum covers core business courses, and with 5 annual start dates, students can easily adapt their studies to their personal schedules.
Santa Clara University
Santa Clara, California
The Economic Score is the combination of debt-to-earnings ratio and earningsplus. We use the economic score to determine a graduate program’s rank. The lower the economic score the better. For an analysis of how we arrive at the economic score, and a description of our data sources, please visit our methodology page.
Median earnings of all students 3 years after graduating.
EarningsPlus compares student earnings after college against a benchmark of all students with the same graduate degree, adjusting for the in-state / out-of-state composition of the student body.
The total debt accrued by the median student at the time of graduation.
The debt-to-earnings ratio is calculated by dividing student debt upon graduation by the annual salary. A debt to earnings ratio of 1 means that annual educational debt is the same as annual earnings.
Santa Clara University’s Online MBA program, accredited by the AACSB, is tailored to meet the needs of Silicon Valley professionals, providing a dynamic and flexible learning experience. The curriculum includes core courses in business fundamentals, specifically designed for the region’s unique business environment. Students can further specialize by choosing from four concentrations: Data Science and Business Analytics, Leading Innovative Organizations, Marketing, and Finance.
University of North Texas
Denton, Texas
The Economic Score is the combination of debt-to-earnings ratio and earningsplus. We use the economic score to determine a graduate program’s rank. The lower the economic score the better. For an analysis of how we arrive at the economic score, and a description of our data sources, please visit our methodology page.
Median earnings of all students 3 years after graduating.
EarningsPlus compares student earnings after college against a benchmark of all students with the same graduate degree, adjusting for the in-state / out-of-state composition of the student body.
The total debt accrued by the median student at the time of graduation.
The debt-to-earnings ratio is calculated by dividing student debt upon graduation by the annual salary. A debt to earnings ratio of 1 means that annual educational debt is the same as annual earnings.
The University of North Texas offers a highly respected online MBA program designed to equip students with the skills needed to succeed in today’s business world. The program is fully accredited by the Association to Advance Collegiate Schools of Business (AACSB), ensuring high academic standards and quality. The online MBA is flexible and can be completed in as little as 14 months, depending on the pace of the student. The curriculum covers a wide range of topics, including accounting, finance, marketing, and management.
Online MBA programs: no GMAT vs GMAT waiver
There are very few downsides to enrolling in a program that does not require the GMAT vs one that does. Top programs in both categories boast average graduate outcomes that are very similar.
Top 10 online MBAs with no GMAT
Economic score: 0.20
Debt: $28,025
Graduate salary: $98,869
Debt-to-earnings ratio: 0.28
EarningsPlus: +$27,074
Top 10 online MBAs with GMAT waiver
Economic score: 0.19
Debt: $27,554
Graduate salary: $97,663
Debt-to-earnings ratio: 0.27
EarningsPlus: +$29,829
The very slight differences between earnings, economic scores, debt amounts, and debt-to-earnings ratios make the programs in both rankings almost equally good value for money on average.
What’s the cheapest online MBA?
The graduate debt for the 201 online MBAs we analyzed ranges from $13,235 to $105,828, with an average debt burden of $36,393. The most affordable programs (whose graduates emerge with the least amount of debt) are as follows:
5 cheapest online MBAs: no GMAT (lowest debt)
- Western Governors University (no. 2 in the ES rankings) – $13,2352.
- University of Dayton – $16,6783.
- University of Southern Mississippi – $17,5294.
- Southern Utah University – $17,5725.
- University of Southern Indiana (no. 10 in the ES rankings) – $17,856
5 cheapest online MBAs: GMAT waiver (lowest debt)
- University of Tulsa – $13,2932.
- Emporia State University (no. 3. in the ES rankings) – $14,9733.
- Texas A & M International University – $15,3914.
- University of Maine – $16,2565.
- Southeast Missouri State University (no. 7 in the ES rankings) – $17,301
Nevertheless, while a cheap sticker price may be tempting, choosing a college based only on low graduate debt may not be the best choice in the long-term.
Why online MBAs with the least graduate debt aren’t always the best option
When we look at our rankings, the top 20 online MBAs with the lowest debt generally have worse graduate salaries compared to programs with the best economic scores.
Top 20 by ES (no GMAT and GMAT waiver)
Economic score: 0.20
Debt: $27,790
Graduate salary: $98,226
Debt-to-earnings ratio: 0.28
EarningsPlus: +$28,452
Top 20 by smallest debt burden (no GMAT and GMAT waiver)
Economic score: 0.33
Debt: $17,487
Graduate salary: $63,368
Debt-to-earnings ratio: 0.29
EarningsPlus: -$4,027
While the programs in our economic score rankings are not the cheapest option, they lead to better earnings on average down the road. This increases their investment value.
Graduates aren’t always worse off if they choose one of these more expensive online MBAs with a higher economic score. Plus, the massive $32,479 difference in EarningsPlus shows that the online MBA programs we’ve ranked by economic score are a better investment compared to the programs with the least graduate debt.
Final thoughts
Whether you’re looking for an accredited online MBA with no GMAT requirements, or you qualify for a GMAT waiver, there are plenty of accredited online programs to choose from. It’s worth keeping in mind though that some of these best-value programs don’t always result in less debt, as they lead to higher earnings. Use our rankings – based on each school’s economic score – to help you find the online GMAT-optional MBAs that offer you the best value for your money.
Our financial aid pages can help you decide how you will afford your MBA, which is one of the most worthwhile degrees you can obtain online.
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