Tuition and Aid
The tuition amounts and financial aid opportunities of the Smeal College of Business MBA program are outlined.
Tuition and Aid
A Penn State Smeal MBA pays for itself within 2.6 years, the fourth shortest payback of all MBA programs according to Forbes’ 2005 rankings. As a land-grant institution, Penn State offers competitive tuition and is also recognized by BusinessWeek as one of the top schools in return on investment (ROI). Our costs are comparatively low, and our graduates yield competitive salaries, making the Smeal MBA a great investment. Furthermore, many of our MBA students receive assistantships and scholarships, making their MBA degrees even more affordable.
Tuition and Expenses
Below are estimated tuition expenses for the current academic year. Estimated housing expenses are based on on-campus graduate housing fees, which may be lower than off-campus options.
| Estimated Expenses for the 2007 - 2008 Academic Year | ||||
|---|---|---|---|---|
| Expenses | PA Residents | Out-of-state Residents | ||
| Tuition | $17,110 | $28,712 | ||
| Fees | $760 | $760 | ||
| Room, Board, & Personal (estimated) | $14,600 | $14,600 | ||
| Laptop Computer | $1,500 to $3,000 | $1,500 to $3,000 | ||
| Books & Supplies | $1,500 | $1,500 | ||
| Global Immersion (first-year only) | $1,500 | $1,500 | ||
Financial Aid & Scholarships
The Penn State Smeal MBA program offers scholarships and assistantships to many MBA students each year. All scholarships and assistantships are awarded based on merit using the same criteria that is used for the admission decision. All applicants are automatically considered for funding and there is no additional application for these awards. To ensure full consideration, candidates should apply by the February 1st application deadline.
Scholarships
Funded by University alumni & friends to attract outstanding students, these one-time awards typically range from $5,000 to $12,000. In recent years, approximately 20 percent of the incoming students have received a scholarship.
Assistantships
Assistantships are two year awards funded by the University to attract outstanding students and to provide support to fulfill the University's Mission. Recipients work ten hours per week for the Smeal College with responsibilities ranging from assisting faculty to working in one of Smeal’s research centers. In return, students receive a 100 percent waiver of tuition, subsidized health insurance, and a stipend of approximately $6,000/academic year. In a student’s second year, the assistantship is normally adjusted to twenty hours per week with a corresponding doubling of the stipend to approximately $12,000.
Each year, approximately forty to forty-five assistantships are awarded in a typical incoming class. If a student is not awarded an assistantship for their first year, there are additional opportunities to obtain a position in their second year. For the 2006/2007 academic year, eighteen assistantships were awarded in this manner.
Other Financial Aid Opportunities
Additional need-based financial aid, including student loans, is available for U.S. citizens through the Penn State Office of Student Aid. Additional financial aid information for international students is available online through the Penn State Office of International Student Services.
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