MBA students will step out of business school with a degree that will hopefully propel them into a successful career. They will also walk out the door, like many other advanced-degree grads, with a mountain of debt, so much so that some entrepreneurs are urging aspiring students to skip business school altogether.
In an effort to guide graduating undergrads and would-be students eager to get an MBA despite the cost, The U.S. News and World Report published a short list of the 10 priciest private business schools. The list shows that on average, full-time students paid $44,066 per year in 2011-2012 for tuition and required fees. The cost of public business schools was much lower—$22,136 for in-state students and $34,101 for out-of-state students.
Here are the top 10 most expensive schools:
- Harvard University (MA) $60,610
- Columbia University (NY) $58,350
- University of Pennsylvania (Wharton) $58,244
- Dartmouth College (Tuck) (NH) $56,555
- Stanford University (CA) $55,200
- Carnegie Mellon University (Tepper) (PA) $54,800
- Babson College (Olin) (MA) $54,450
- University of Chicago (Booth) $54,252
- Northwestern University (Kellogg) (IL) $54,225
- Yale University (CT) $53,900
The article notes that all the schools on the top 10 list raised the cost of tuition and fees by at least a few thousand dollars last year. Dartmouth was the leader. The business school raised their tuition by $5,500.
Do you think getting an MBA from one of these schools is worth the cost? Share your thoughts in the comments below.
Jenny is the Education Editor at TakePart. She has been writing for TakePart since 2009 and previously worked in film and television development. She has taught English in Vietnam and tutors homeless children in Los Angeles. Email Jenny | @jennyinglee