Business school costs a lot of money. Period.
But when you're factoring in the cost of business school, it's not the tuition alone—which costs more than $60,000 an average—that you have to consider.
You also have to think about everything from the cost of health insurance to books, a computer, and other supplies. Then there are the hidden fees that you probably don't factor in, like loan fees, transportation, business attire, and networking costs (taking people out to lunch, attending conferences, and more).
Add in the cost of living (which can be quite high in a city like New York), and you've got yourself a lot of debt.
We looked at each school's total cost estimate for the first year of business school—most of which assume that students are living a very modest lifestyle. We didn't even include extras like study abroad costs—which are popular add-ons in business school—or miscellaneous fees like club dues. Schools that provided tuition costs for the entire duration of the program were excluded.
We found that the cost of tuition pales in comparison to the total cost of these MBA programs—in fact, the true cost of a MBA is often double the cost of tuition.
#11 McDonough School of Business, Georgetown
Tuition: $53,600
Room & Board: $20,100
Health Insurance: $2,325
Books, Supplies, Computer: $2,620
Miscellaneous Fees (including program fees, clothing, transportation, loan fees, networking costs): $2,580
Total: $81,225
#10 Yale School of Management
Tuition: $57,200
Room & Board: $14,800
Health Insurance: $2,000
Books, Supplies, Computer: $2,005
Miscellaneous Fees (including program fees, clothing, transportation, loan fees, networking costs): $8,000
Total: $84,005
#9 Kellogg, Northwestern University
Tuition: $59,085
Room & Board: $15,711
Health Insurance: $3,067
Books, Supplies, Computer: $2,847
Miscellaneous Fees (including program fees, clothing, transportation, loan fees, networking costs): $6,480
Total: $87,190
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