Fall 2015 and Spring 2016 Cohorts: $7,414 per term (for each of the 8 terms); $59,312 for the 2-year program.
The cost of the online MBA program covers all tuition, books, course materials, fees, and room and board during the residency experiences. The only cost not covered is the transportation to the residency experiences. You must arrange and pay for your own travel to the residency sites. There is no additional charge for non-Pennsylvania residents.
A few highly competitive merit-based scholarships are available to iMBA students who have demonstrated extraordinary personal, professional, or academic achievements, or the ability to contribute a unique perspective to the class. Admitted applicants are automatically considered for merit-based scholarships. To be considered for a scholarship, you are encouraged to submit your completed application portfolio well in advance of the application deadline. Scholarship award decisions will be made by the iMBA admissions committee.
Personal Direct Payment
Students may elect to pay the total term's costs at the beginning of each new term, or opt for one of the following deferred payment plans described below.
Personal Deferred Payment
Students will be billed for the term charges at the beginning of each term, with 50% of the charges to be paid by the 4th week of the term.
The remaining 50% of the term charges will be billed approximately midway through the term and must be paid before the end of the respective term.
Employer Deferred Payment
The employer deferred payment plan is initiated with the completion of a Tuition Reimbursement Approval Form (TRAF) signed by both employee and employer. The TRAF indicates conditions for employer reimbursement and must be submitted to the iMBA office prior to each term (contact information for the TRAF will be provided). Submission prior to each term is needed to verify continued employment and eligibility for reimbursement.
Students are responsible for all payments. Each student must promptly submit payment to Penn State when reimbursement for expenses has been received from the employer, under the company's officially established tuition assistance program.
Students will be billed and will be held responsible for immediate payment of any amount determined to be ineligible for employer reimbursement.
Students will be billed for the employer reimbursement component of their fees two weeks prior to the end of a term. Students then have 45 days to submit payment. Registration for a subsequent term will often occur and be accepted before we receive payment for the previous term. If payment is not received at the end of 45 days, course registration for the respective term will be revoked.
Employer Voucher Payment
The employer provides a letter authorizing Penn State to bill them for the student's tuition and/or fees.
Student is responsible for all tuition and fees not paid by employer.
Student will be billed and held responsible for immediate payment of any amount not authorized by employer.