Getting an international MBA degree will be costlier affair

If you are planning to get enrolled in any of the international B-school get ready to spend some more money. Some of the leading B-Schools have decided to increase their tuition fee. These selective management institutes plan to increase tuition fee for the class of 2016 nearly 4 percent or more, building on a 37 percent rise in the degree’s sticker price over the last six years.

The increase in the fee would be around 4 percent and the average cost for a year of tuition fee was nearly $ 60,000. Duke University’s Fuqua School of Business had the highest percentage jump, 4.9 percent, and the Harvard Business School had increased the minimum fee of 2.7 percent. These fees are for one year and two years programmes. With living expenses and other expenses, MBA students at the top schools can easily clear $ 150,000 in costs by the time they graduate.

Most of the aspirants assume that generally institutes increase the fee from two percent to six percent on an average and it can be as high as 15 percent in a year. However, there are many students who apply to various B-schools abroad, the change in fee might increase the overall study budget of many students. At many U.S. schools, the total cost of MBA tuition fee was $ 44,476 in 2012, on average a jump of more than a third over the $ 32,473 it cost in 2007 according to the most recent numbers. At private schools, the cost of an MBA education rose 27 percent to $ 55,451.