10 Most Affordable Online MBA Programs in Illinois – 2024

Governors State University's College of Business is one of the top colleges in Illinois, known for its great value and quality education. Their online MBA program, especially in Supply Chain Management, has earned national recognition, ranking 5th in the U.S. by Onlinemasters.com in 2023. This award shows the program's excellent academics, student success, and affordability. GSU's business programs are designed to fit well with Illinois' major industries, giving students the right skills and knowledge. The college offers flexible options with online and hybrid courses, perfect for working professionals and adult learners.

Affordable Education

GSU's College of Business offers one of the most budget-friendly business education options in Illinois. With some of the lowest tuition rates in the state, students can get a top-notch business education without piling up debt. The college also offers various scholarships and financial aid, making education accessible to many students.

Nationally Recognized Online Programs

GSU's online MBA program has received several awards. Besides being ranked 5th for Supply Chain Management, it was also ranked 18th for Best Value Online MBA Programs by OnlineMBAtoday.com. These rankings highlight the program's dedication to providing high-quality education in a flexible, online format.

Industry-Aligned Concentrations

GSU's business programs offer specializations that match closely with Illinois' main industries. This ensures students learn skills that are directly useful in the local job market. For instance, the Supply Chain Management concentration addresses the needs of Illinois' strong logistics and transportation sector.

Flexible Learning Options

GSU's College of Business understands the diverse needs of its students, offering flexible learning options. Students can choose from fully online, hybrid, or on-campus programs. This flexibility helps working professionals and adult learners balance their studies with other responsibilities, making it easier to advance their careers while studying.

Strong Industry Connections

Because of its Chicago location, the College of Business has strong ties with local industries. These connections offer students internships, networking opportunities, and real-world projects. The college focuses on practical experience, ensuring graduates are well-prepared for the business world.

The University of Illinois Springfield's College of Business and Management is a top choice for future business leaders in Illinois. With its focus on engagement, innovation, and making an impact, this AACSB-accredited school provides a student-centered education that sets graduates up for successful careers in the public, nonprofit, and private sectors. The college has strong ties with Illinois' key industries, which helps build connections with local and regional businesses. This was evidenced when UIS students and faculty won several awards at the 2023 Society for Advancement of Management International Business Conference, showing their skills in real-world business situations.

The College of Business and Management offers more than just traditional classroom learning. It emphasizes hands-on and online learning, focusing on personal learning outcomes, applied research, and active engagement with outside stakeholders. Located in the state capital, the college gives students unique access to government agencies, nonprofit organizations, and private companies, creating great opportunities for internships, networking, and careers.

Tailored Program Offerings

The College of Business and Management provides a select number of undergraduate and graduate programs tailored to the evolving needs of the business field. Students can major in fields like Accountancy, Business Administration, Economics, and Management Information Systems. These programs are designed to give a strong foundation for success in various careers. The curriculum is regularly updated to include the latest industry trends and technologies, ensuring graduates are ready for modern business challenges.

Experiential Learning Opportunities

At UIS, learning goes beyond the classroom. The college emphasizes practical experience, offering many opportunities for students to apply their knowledge in real-world settings. Through internships, case competitions, and projects with local businesses, students gain practical skills and build professional networks, giving them an edge in the job market.

Innovative Research Initiatives

The College of Business and Management promotes a culture of innovation and research. Faculty members are involved in cutting-edge research, often including students in their projects. This commitment to research not only improves the quality of education but also advances business knowledge and practices, benefiting both the academic community and industry partners.

Global Perspective

The college understands the importance of a global mindset in today's business world. It includes international perspectives in its curriculum, with opportunities for students to participate in study abroad programs, international case competitions, and cross-cultural business projects. This prepares them to succeed in diverse and multicultural work environments.

Personalized Career Development

The college is dedicated to student success with comprehensive career support services. Students receive personalized guidance through one-on-one career counseling, resume workshops, and networking events. The strong alumni network and connections with local businesses further enhance career prospects, offering valuable mentorship and job placement opportunities.

With its innovative programs, focus on experiential learning, and commitment to student success, the University of Illinois Springfield's College of Business and Management provides a transformative educational experience. It equips students with the knowledge, skills, and connections needed to excel in today's dynamic business environment, making it a top choice for those seeking a high-quality, affordable business education in Illinois.

Western Illinois University's College of Business and Technology (CBT) is a great pick for students who want a great, affordable business education in Illinois. With a variety of programs, including choices in Accountancy and Agriculture, CBT aligns with the state’s key industries. These gives the students the skills and knowledge needed in the business field. With a focus on practical experience and strong industry ties, CBT gives students the tools they need to thrive in Illinois' business environment. In fact, CBT's hands-on learning is supported by events like Supply Chain Management Day and the School of Agriculture Career Fair. These events connect students with industry leaders. Moreover, the college's innovative Business Analytics program prepares students for the data-driven business world. 

Affordable Excellence

Western Illinois University's College of Business and Technology makes quality education accessible. Tuition and fees are set at $12,848 for all students. With an average financial aid package of $17,238, CBT makes it easier for students to afford their education.

Industry-Aligned Programs

CBT's curriculum is tailored to meet the needs of Illinois' major industries. It offers concentrations in accounting, business analytics, economics, finance, and supply chain management/logistics. These programs prepare students for successful careers in Illinois' booming business sectors.

Experiential Learning Opportunities

The college emphasizes practical, hands-on learning. Events like the Supply Chain Management Day and the School of Agriculture Career Fair provide networking opportunities and field insights. Along with internships and industry partnerships, these initiatives let students apply classroom knowledge to real-world situations, boosting their job prospects after graduation.

Innovative Business Analytics Focus

CBT's Business Analytics program is a standout, meeting the growing need for data-driven decision-making in business. This program trains students in cutting-edge analytical tools and techniques, setting them up for success in a rapidly growing field.

Comprehensive Support Services

Western Illinois University offers a range of support services. With a student-faculty ratio of 13:1, CBT provides personalized attention and mentorship. The college also offers career services, academic advising, and student organizations to support students throughout their academic journey and beyond.

Eastern Illinois University's Lumpkin College of Business and Technology is also a fantastic choice for students in Illinois looking for a great business education. The college has a special Industry Partners Program that connects students with top companies. This program offers internships, guest lectures, and helps shape the curriculum to match what industries need. This way, students are learning what's relevant in the real world, especially in technology and business fields. The college also has a faculty awards program to honor outstanding teaching, research, and service. With a strong focus on practical experience and industry involvement, Lumpkin College prepares students for success in Illinois' active economy.

Industry-Driven Curriculum

At Lumpkin College, the curriculum is created through close cooperation with industry partners. This ensures that students learn skills and knowledge that are directly useful in today's job market. For example, special courses on topics like mainframe technology are developed with companies such as Levi, Ray & Shoup, Inc., giving students up-to-date insights and hands-on experience in high-demand areas.

Personalized Learning Experience

Lumpkin College emphasizes small class sizes and personalized attention. This means students get to interact more with their teachers and classmates, creating a supportive community that helps them succeed both academically and professionally.

Robust Internship Opportunities

The Industry Partners Program at Lumpkin College offers many internships with top companies. These internships give students real-world experience, help them build professional networks, and give them an edge when looking for jobs.

Innovative Technology Integration

Lumpkin College integrates technology throughout its business programs. Students have access to the latest software and tools used in the industry, ensuring they are ready for the technological demands of modern business environments.

Career Development Support

The college provides extensive career development services, working with EIU's Career Services to help students with job searches, resume writing, and interview preparation. This comprehensive support helps students transition smoothly from college to their careers.

Faculty Expertise and Recognition

Lumpkin College has a distinguished faculty made up of scholars and industry professionals. The faculty awards program recognizes excellence in teaching, research, and service. This ensures that students are learning from top experts who are committed to their success.

Illinois State University's College of Business is one of the top business schools in Illinois. It offers a unique mix of value, flexibility, and reputation. The college promises "big school resources and ranking at a budget price," giving students a strong start for success in the business world. The program's concentrations are tailored to key industries in Illinois, such as insurance, risk management, and professional sales. This helps students connect with local and national companies. The college's dedication to excellence is shown through its many awards, including being ranked among the top 4 undergraduate programs in insurance and risk management by A.M. Best, and being recognized as one of the best places to earn an MBA by Princeton Review.

Exceptional Value and Quality Education

Illinois State University's College of Business offers a great return on investment. The program provides high-quality education at an affordable price, making it a smart choice for students who want a respected business degree without too much debt. The college is committed to offering both value and academic excellence, ensuring students get a top-notch education that prepares them for successful careers in various business fields.

Industry-Aligned Concentrations

The College of Business offers concentrations that match major industries in Illinois and beyond. Students can specialize in areas like insurance and risk management, professional sales, and accounting, all of which are in high demand in the state's business scene. This means graduates have the skills and knowledge needed to be attractive to employers in their chosen fields.

Nationally Recognized Programs

Illinois State University's College of Business has several nationally recognized programs. The Professional Sales Program is regularly named one of the Top University Sales Programs in the United States by the University Sales Education Foundation. The Insurance and Risk Management Program is ranked among the top 4 in the country by A.M. Best, a leading insurance rating agency. These recognitions show the college's commitment to excellence and its ability to prepare students for success in specific business areas.

Strong Industry Connections

The College of Business has strong ties with local and national businesses, giving students valuable networking opportunities and real-world experience. Through partnerships with companies in various industries, students can access internships, guest lectures, and collaborative projects that boost their learning and career prospects. These connections also ensure that the curriculum stays relevant and up-to-date with current industry trends and practices.

Personalized Learning Experience

Even though it's part of a larger university, the College of Business offers a personalized learning experience. Students get the benefits of a big school with the individual attention of a smaller institution. They have close interactions with faculty members who are dedicated to their success. The college focuses on practical learning experiences and clear communication of school objectives, ensuring students are well-supported throughout their academic journey and beyond.

Southern Illinois University Carbondale's College of Business and Analytics offers a mix of affordability and value. The college's forward-thinking approach to education fits perfectly with the state's key industries, such as agribusiness, healthcare management, and data analytics. Students benefit from strong ties to local businesses, gaining real-world experience through internships and projects. Moreover, its focus on sustainability and social responsibility is clear in its curriculum and research. This is why its students are prepared to solve global problems and boost Illinois' economy.

Cutting-Edge Curriculum

SIU Carbondale's College of Business and Analytics has a modern curriculum that keeps up with the fast-changing business world. Students can choose from a variety of specializations, including Business Analytics, Supply Chain Management, and Financial Economics, all tailored to meet the needs of Illinois' job market. The college emphasizes data-driven decision-making and technology, ensuring graduates are ready for the digital age.

Experiential Learning Opportunities

The business school at SIU Carbondale focuses on hands-on learning. Through the Business Placement Center, students access internships, co-op programs, and networking events with industry leaders. Strong partnerships with local and regional businesses, especially in the booming Chicago area, provide students with real-world projects and case studies, linking theory to practice.

Global Perspective

Understanding the importance of a global outlook in today's business world, the College of Business and Analytics offers many study abroad programs and international partnerships. Students can join exchange programs with universities around the world, gaining valuable cross-cultural experiences and expanding their global network. This international exposure is particularly useful for those aiming to work in Illinois' diverse and globally connected business scene.

Innovation and Entrepreneurship Focus

The college encourages entrepreneurship through its Saluki Innovation Lab and various startup competitions. Students can develop their own business ideas, receive mentorship from successful entrepreneurs, and even secure funding for their ventures. This focus on innovation matches Illinois' growing status as a hub for startups and tech companies.

Personalized Learning Experience

With a student-to-faculty ratio of 15:1, the College of Business and Analytics ensures personalized attention and mentorship. The dedicated faculty, many with extensive industry experience, provide individualized guidance and support. This close-knit community fosters collaborative learning and the creation of strong professional networks that last beyond graduation.

Career Development and Alumni Network

The college's dedication to student success goes beyond the classroom. The Business Career Services office offers comprehensive support for job searches, resume building, and interview preparation. Additionally, the strong alumni network, with graduates in leadership roles across various Illinois-based companies, provides mentorship opportunities and a valuable professional community for students to connect with throughout their careers.

Northeastern Illinois University's College of Business and Management (CBM) is an excellent choice for students who want a high-quality yet affordable business education in Illinois. The college's diverse and inclusive environment, along with its strong focus on practical skills and industry connections, helps students succeed in Chicago's fast-paced business world. CBM's programs meet market demands because it matches major industries in the state, such as finance, healthcare, and technology. The college's commitment to diversity is shown in its high rankings for ethnic diversity, creating a rich learning environment similar to the global business world.

Exceptional Value and Affordability

Northeastern Illinois University's MBA program is a great value for students. It has one of the lowest tuition rates among AACSB-accredited programs in Illinois, providing high-quality education at a much lower cost than many other schools. This combination of affordability and quality has earned NEIU recognition as a "Best Value in Education" by Newsweek.

Diverse and Inclusive Learning Environment

NEIU's College of Business and Management has one of the most ethnically diverse student bodies in the country. This multicultural environment not only enhances the learning experience but also prepares students for the global business world. The diversity also includes the faculty, who bring a wide range of international experience and perspectives to the classroom.

Flexible Program Options

The MBA program at NEIU is designed for working professionals. Students can choose from full-time or part-time study options, with evening, weekend, and online classes available. This flexibility allows students to balance their education with work and personal commitments, making it a perfect choice for both career advancers and career changers.

Strong Industry Connections

CBM has strong relationships with Chicago's business community, giving students many opportunities for internships, networking, and real-world projects. The college's partnerships with professional organizations like ALPFA, CPA Society, and SHRM provide students with valuable industry insights and connections.

Personalized Learning Experience

With small class sizes, NEIU's MBA program ensures that students receive individual attention from faculty. This close-knit learning environment encourages meaningful discussions, collaborative projects, and personalized mentorship opportunities, enhancing the overall educational experience.

Northern Illinois University's College of Business offers the personal touch of a small, private college along with the resources and reputation of a top institution. Its dedication to diversity, academic excellence, and practical experience creates a setting where students can thrive and prepare for successful careers in the ever-changing business world. Just 65 miles west of Chicago, it benefits from being near a major business center. This is why students have convenient access to hands-on experience. Moreover, the programs at the college are tailored to fit Illinois' key industries like manufacturing, finance, and technology, ensuring students are ready for jobs in the state. With a focus on hands-on learning and innovation, NIU's College of Business is recognized nationally, ranking 55th for attracting and retaining high-quality students. The college's commitment to hands-on learning is exemplified through its Experiential Learning Center, where students work on real consulting projects for actual businesses,

Experiential Learning Center (ELC)

The Experiential Learning Center is a key part of NIU’s business education. Here, students become consultants—they work on real projects for companies, with the guidance of professors and business experts. This experience helps students develop important skills in project management, communication, and leadership while tackling actual business problems.

Cross-Functional Problem Solving

NIU’s business courses are designed to be challenging, with students often tasked with "running a company." This approach encourages collaboration across different business areas, simulating real-world business management. It helps students understand the complexities of global business operations and decision-making.

Strong Industry Connections

The College of Business has strong ties with over 300 companies in Chicago and the nearby areas, from big corporations to startups. These connections offer students networking opportunities, internships, and job prospects, giving them an edge in the competitive job market.

Innovative Programs and Certifications

NIU offers unique programs, specializations, and certifications. For example, management students can earn a Certificate of Undergraduate Study in Social Entrepreneurship, while marketing students can get a certificate in Retail Management. These specialized programs help students customize their education to match their career goals and stand out in the job market.

Office of Innovation

The NIU Office of Innovation helps turn ideas into reality. It offers resources for concept development, startup support, and innovation-focused events and programs. The office also provides flexible workspaces and commercialization services, promoting an entrepreneurial mindset among students.

Dominican University's Brennan School of Business is recognized as one of the best affordable and value-packed business programs in Illinois. It provides students with a unique mix of ethical leadership training and practical business education. For over 40 years, Brennan has been dedicated to creating ethics-focused leaders ready to face today's global business challenges. The school's emphasis on corporate partnerships and hands-on learning fits perfectly with Illinois' diverse economy, being home to 34 Fortune 500 companies and booming industries like advanced manufacturing, agribusiness, and information technology. Brennan's streamlined MBA program requires just 30 credits, making it a cost-effective path to career growth while maintaining small class sizes for personalized attention. As a Hispanic Serving Institution (HSI), Brennan offers a diverse and inclusive learning environment to help students thrive in today's multicultural business world.

Ethical Leadership Focus

The Brennan School of Business strongly emphasizes ethical leadership, weaving this principle throughout its curriculum. Students are encouraged to develop a strong moral compass along with their business skills, preparing them to make responsible decisions in complex business situations. This focus on ethics gives Brennan graduates a distinct advantage in the job market, as employers increasingly seek leaders who can handle ethical challenges at work.

Corporate Partnerships

Brennan has a wide network of corporate partnerships that give students exceptional access to real-world business experiences. The school collaborates with businesses of all sizes, both public and private, to meet market demands and exchange valuable resources, insights, and ideas. These partnerships provide students with opportunities for internships, case studies, and networking events with industry leaders, giving them a competitive edge in their careers.

Flexible Learning Options

Understanding the diverse needs of today's students, the Brennan School offers flexible learning options to fit various schedules and learning preferences. The part-time MBA program, ranked No. 210 out of 269 by U.S. News & World Report, allows working professionals to balance their education with career and personal commitments. Additionally, the school offers both online and on-campus options for its Business Essentials Certificate Program, allowing students to gain fundamental business skills in as little as one semester.

Industry-Aligned Concentrations

Brennan's MBA program offers concentrations that align closely with Illinois' key industries, ensuring students are well-prepared for the state's job market. Advanced Business Certificates are available in seven specialty areas, including Data Analytics, Healthcare Administration, and International Business. These concentrations let students develop expertise in high-demand fields, making them attractive to Illinois' leading companies in sectors like advanced manufacturing, agribusiness, and information technology.

Cohort Tuition Discounts

Brennan shows its commitment to accessibility and corporate partnerships by offering cohort tuition discounts of 20% to select corporate partners. This initiative not only makes a top-tier MBA more affordable but also encourages companies to invest in their employees' professional development. By offering high-quality continuing management education focused on practical application, Brennan ensures that both students and their employers benefit from this innovative program.

The Gies College of Business at the University of Illinois Urbana-Champaign is known for its innovative and excellent business education. It has an impressive iMBA program, which was named the 2022 MBA Program of the Year by Poets&Quants. This program offers a unique combination of affordability, flexibility, and quality, costing just $24,000. It's perfect for working professionals who want to advance their careers without having to stop working. Gies also makes education accessible through stackable programs, which means students can work towards advanced degrees by taking a mix of courses and certificates. The college's focus on purposeful education fits well with Illinois' diverse economy, which includes agriculture, manufacturing, technology, and finance. Gies has strong connections with top companies in these fields, giving students the chance to solve real-world problems and interact directly with clients. With over 8,000 students seeking degrees, including more than 7,000 online learners, Gies is a global leader in business education. In fact, the university has over 2.6 million online course enrollments worldwide.

Innovative Online MBA Program

The iMBA program at Gies College of Business offers the same education as traditional MBA programs but with greater flexibility and lower cost. Students from around the world collaborate, learn from top faculty, and apply what they learn directly to their jobs, often leading to higher pay and career growth.

Industry-Aligned Concentrations

Gies provides a variety of concentrations that match Illinois' main industries. Whether it's accounting, finance, technology management, or business analytics, students can customize their education to fit the needs of the state's growing economy. This alignment ensures that graduates are ready to lead and contribute to key sectors driving Illinois' economy.

Experiential Learning Opportunities

At Gies, learning goes beyond the classroom. The college emphasizes hands-on learning experiences, allowing students to apply what they learn to real-world business challenges. Through partnerships with local and global companies, students engage in projects, internships, and case studies that give them practical experience and industry connections.

Cutting-Edge Research Initiatives

The Illinois Strategic Organizations Initiative (ISOI) at Gies highlights the college's dedication to advancing business knowledge and practices. ISOI brings together top scholars from different fields to create new strategies and management practices. This initiative focuses on important areas like organizational purpose, digital technologies, and strategic adaptation, ensuring that Gies students are at the cutting edge of business innovation.

Global Perspective and Network

Gies College of Business offers a truly global educational experience. With students from many different countries and cultures, students gain valuable international perspectives. The college's extensive alumni network, spread across the globe, provides unmatched opportunities for networking, mentorship, and career advancement in an increasingly connected business world.