If you've ever Googled "Best Affordable MBA Colleges Abroad," you're not alone. Thousands of aspiring Indian MBA students, just like you, dream of studying abroad, but often hit the same roadblock: the cost.
But here's the truth. An MBA abroad doesn’t have to cost a fortune. In fact, several countries are known for having the cheapest MBA colleges, offering world-class education at a fraction of the cost you'd expect in the US or UK.
So, where can you get a quality MBA without burning through your savings? Let’s find out in this blog!
Key Highlights:
- For an affordable MBA abroad, you should consider countries like Germany, Canada, Australia, and New Zealand.
- The cost of cheaper MBA programs abroad ranges from USD 30,000 to USD 50,000 (INR 24 lakh to 40 lakh).
- After graduating from an affordable MBA college, you can expect starting salaries of USD 70,000 to USD 100,000 (INR 60 lakhs to 85 lakhs), providing a solid return on investment.
- To study at an affordable MBA college abroad, aim for a GMAT score between 600 and 650, a GRE score between 310 and 320, an IELTS score between 6.5 and 7.0, or a TOEFL-iBT score between 90 and 100.
Check your eligibility at over 2000+ universities by connecting with our experts!
Cost of Studying MBA Abroad for Indian Students
The cost of studying an MBA abroad ranges from USD 30,000 to USD 50,000 (INR 24 Lakh - INR 40 Lakh). If you're planning to pursue an affordable MBA abroad, it's important to understand all the costs involved, not just tuition fees. As an Indian student, you might be exploring MBA colleges abroad with low fees that still offer great ROI. Beyond the classroom, your total budget will include living expenses, visa fees, travel, and other essentials.
Here’s a breakdown to help you plan better and make informed choices
Tuition Fees
MBA tuition fees abroad usually fall between USD 20,000 and USD 100,000. Costs depend on factors like the university's global ranking, program length, and location. Top-tier schools in the U.S., UK, or Switzerland tend to be more expensive, while options in Germany or Spain are relatively more affordable.
Living Expenses
Expect to spend USD 10,000 to USD 30,000 per year on living costs. These vary significantly based on your lifestyle and the city you live in. London, New York, and Tokyo rank among the most expensive cities, whereas smaller towns in Canada or Germany offer a lower cost of living.
Travel Costs
Include your round-trip airfare and any travel during holidays or internships. Travel can add a few thousand dollars to your overall budget, depending on the destination and frequency of travel.
Application and Visa Fees
Application fees generally range from USD 50 to USD 200 per university. Visa-related expenses, including processing and documentation, can cost anywhere between USD 500 and USD 2,000, depending on the country.
Other Expenses
Set aside USD 2,000 to USD 5,000 per year for essentials like books, course materials, health insurance, and daily personal expenses. These costs vary by program and individual lifestyle.
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Best Countries for Affordable MBA Abroad
Cheapest countries for an MBA abroad for Indian students at low cost include Canada, Germany, Ireland and other European countries listed below. But you have already heard about this many times. Did you know that China is one of the best countries for an MBA abroad for Indian students? It has many MBA colleges with low fees, like Ningbo & Funan University.
Let’s look at the cheapest countries for an affordable MBA abroad and their corresponding costs:
Country |
Average Cost of Living |
Average Tuition Fees |
---|---|---|
USD 700 (INR 60,000) |
USD 9500 to USD 22,000 (INR 8 lakhs to INR 19.5 lakhs) |
|
MBA in China |
USD 530 (INR 45,000) |
USD 2600 to USD 6000 (INR 2 lakhs to INR 5 lakhs) |
MBA in Switzerland |
USD 1900 |
USD 29,000 to USD 72,000 (INR 25 lakhs to INR 62 lakhs) |
USD 870 (INR 74,000) |
No tuition fees in public B-schools |
|
USD 1200 (INR 1.2 lakhs) |
USD 8200 to USD 30,000 (INR 7 lakhs to INR 27 lakhs) |
|
USD 1000 (INR 86,000) |
USD 16,000 to USD 70,000 (INR 14 lakhs to INR 60 lakhs) |
|
USD 1100 (INR 95,000) |
USD 15,000 to USD 60,000 (INR 13 lakhs to INR 52 lakhs) |
|
USD 1000 (INR 85,000) |
USD 8000 to USD 11,000 (INR 7 lakhs to 9.3 lakhs) |
|
USD 800 (INR 70,000) |
USD 20,000 to USD 40,000 (INR 17 lakhs to INR 43 lakhs) |
|
USD 1300 (INR 95,000) |
USD 30,000 (INR 26 lakhs) |
Suggested: Best Countries to Study MBA Abroad
Top MBA Colleges Abroad with Low Fees
If you are seeking an MBA abroad for Indian students at a low cost, there are many affordable options available. And if it’s cheap, doesn’t mean it has to be bad, right? Universities like TUM in Germany and the Kaplan Business School in Sydney are some of the most popular MBA colleges, and offer affordable MBA programs abroad.
Let’s look at some of the best business schools abroad at a low cost:
Affordable MBA Colleges |
QS Ranking 2025 |
---|---|
Memorial University of Newfoundland, Canada |
661-670 |
University of Victoria, Canada |
349 |
EU Business School, Barcelona |
141 |
University College of Birmingham, UK |
80 |
Technical University of Munich, Germany |
28 |
University of Tuebingen, Germany |
222 |
Kaplan Business School, Sydney |
45 |
International Institute of Business and Information Technology, Sydney |
N/A |
Deusto Business School, Spain |
1001-1200 |
EAE Business School, Spain |
Ranked among the Top 10 in Europe for Global MBA |
Moving forward, let's take a quick look at each of these cheap MBA colleges abroad.
1. Technical University of Munich
The Technical University of Munich (TUM) offers an excellent MBA in abroad for Indian students at low cost. As one of Europe's leading institutions, TUM ranks as the fourth most innovative university. Their Executive MBA in Innovation and Business Creation is tailor-made for working professionals and executives.
This program integrates strong academic management with personalized start-up and innovation consultancy, offering a distinctive opportunity to acquire and enhance entrepreneurial skills.
Annual Tuition Fees |
0 (public universities in Germany require no tuition fees). |
Scholarships Offered |
One-time financial aid between EUR 500 - EUR 1,500 per semester |
Programs Offered |
Executive MBA in Innovation and Business |
Suggested: MBA Scholarships in Germany for Indian Students
2. Kaplan Business School, Australia
Kaplan Business School in Sydney is one of the best colleges that offer MBA in abroad for Indian students at low cost. Programs as famous as Master of Business Analytics, Master of Professional Accounting, and Master of Accounting have been under the umbrella of Kaplan. With years of efficient functioning, Kaplan Business School has developed strong relationships with various local businesses in Australia such as the Sydney Swans and Davidson.
Annual Tuition Fees |
USD 56,000 (INR 47 lakhs) |
Scholarships Offered |
Asia- International Student Scholarship |
Programs Offered |
|
3. University College Of Birmingham, UK
One such institution is University College Birmingham, which offers excellent but inexpensive education to international students from more than 60 countries. Due to the industry-oriented education and training, the employability rate at UCB has become very high. It is noted as one of the finest educational institutes around the globe and offers one of the most economical MBA programs abroad.
Annual Tuition Fees |
USD 29,000 (INR 24 lakhs) |
Scholarships Offered |
|
Programs Offered |
|
4. EU Business School, Barcelona
EU Business School (EU) in Spain is among the most affordable MBA colleges in the country. This private institution specialises in business studies, and was established in 1973. It holds certification from eduQua, the inaugural Swiss quality standard for higher education institutions.
The MBA program at EU Business School earned recognition for its excellence in the Global MBA Ranking 2021 by America Economia and is renowned for offering the lowest MBA fees abroad.
Annual Tuition Fees |
USD 12,380 (INR 10 lakhs) |
Scholarships Offered |
|
Programs Offered |
|
5. The University Of Tübingen, Germany
Among the oldest universities in Germany, Tübingen offers a good MBA in abroad for Indian students at low cost. The Tuebingen MBA is particularly famous for its research-based and practice-oriented MBA program. For ambitious Bachelor students, the Master of Science program in International Business offers a unique opportunity in a program merging academic and cultural development.
Annual Tuition Fees |
USD 8000 (INR 7 lakhs) |
Scholarships Offered |
N/A |
Programs Offered |
Masters of Science in International Business |
6. University of Victoria
Located in British Columbia, the University of Victoria is a widely known public research university. It has over 21,000 enrollments, is rated as one of the affordable MBA colleges in Canada, and is in the top MBA colleges abroad for nominal tuition fees. Undoubtedly, the University of Victoria is a standout choice among low-cost MBA colleges abroad.
Annual Tuition Fees |
USD 9500 (INR 8.1 lakhs) |
Scholarships Offered |
|
Programs Offered |
Daytime and Weekend MBA in Sustainable Innovation |
7. Memorial University Of Newfoundland (MUN), Canada
Memorial University of Newfoundland (MUN) ranks as one of the affordable MBA abroad options in Canada. Known for its low tuition fees and practical training methods, MUN offers an affordable MBA option for international students. With campuses in St. John's, Corner Brook, and Harlow, it provides diverse academic programs in a vibrant urban environment, making it a standout among low-cost MBA colleges abroad.
Annual Tuition Fees |
USD 15,600 (INR 13 lakhs) |
Scholarships Offered |
|
Programs Offered |
|
8. Deusto Business School, Spain
Deusto Business School holds prestigious accreditations from the Association to Advance Collegiate Schools of Business (AACSB) and the Association of MBAs. These global endorsements underscore the school's exceptional quality in business education, ranking it among the finest worldwide.
Deusto offers good MBA in abroad for Indian students at low cost. Deusto alumni occupy key roles in 20 percent of Spain's 35 IBEX-registered companies, including CEOs, VPs, and general managers.
Annual Tuition Fees |
USD 56,000 (INR 49 lakhs) |
Scholarships Offered |
The Fundación Vizcaína Aguirre Grants Programme |
Programs Offered |
|
9. EAE Business School, Madrid
EAE Business School, with a history of over 60 years in shaping successful professionals, has educated more than 73,000 directors and executives. Since its establishment in 1958, over 65,000 executives have benefited from EAE's classrooms.
Participants hail from 72 nations spanning five continents, with 95 percent possessing professional backgrounds. Within the MBA program, the school offers a range of specializations, including a Master's in Financial Management, a Master's in Marketing and Sales, a Master's in Project Management, and more.
Annual Tuition Fees |
USD 42,000 (INR 36 lakhs) |
Scholarships Offered |
Academic Excellence Grant |
Programs Offered |
|
10. International Institute of Business and Information Technology, Sydney
The Institute of Business Information Technology (IIBIT) in Sydney offers an affordable MBA abroad for Indian students. It offers undergraduate and postgraduate degrees in Information Technology and Business Administration at its Sydney and Adelaide campuses. Additionally, the institute supports students in securing internships and placements, and it offers programs like the Master of Technology and MBA in International Business.
Annual Tuition Fees |
USD 20,000 (INR 17 lakhs) |
Scholarships Offered |
Federation University Australia Global Excellence Scholarship |
Programs Offered |
MBA in International Business |
Affordable MBA Abroad: Eligibility Criteria & Admission Requirements
Before applying for an MBA abroad, it's important to know the basic eligibility requirements. These help schools determine if you're ready for the program. Here's a simple overview of what you'll need.
Bachelor’s Degree
A completed undergraduate degree from a recognised institution.
Work Experience
2-5 years of professional experience is often required, especially for top programs.
Standardised Tests
A valid GMAT or GRE score. Some programs may also accept the Executive Assessment (EA) for experienced professionals.
English Proficiency
Non-native English speakers usually need TOEFL or IELTS scores.
Academic Transcripts
Official transcripts from all previously attended institutions.
Letters of Recommendation
Usually 2-3 from professional or academic sources.
Essays or Statement of Purpose
Highlight your career goals, achievements, and reasons for pursuing an MBA.
Specific requirements may vary by school, so always check the details for each program you’re interested in.
How to Pursue Affordable MBA Abroad?
To pursue MBA abroad at a low cost, you need to narrow down your options - country, universities, and the overall living costs. Choose countries with low MBA fees, like Germany, which has practically free tuition, Canada, and Australia. These countries offer excellent B-schools at very affordable rates, in comparison to the US and the UK.
Apply for scholarships, grants and fellowships at your university, and from government and private organisations, if possible. Opt for cities which are more affordable, instead of the most popular and happening ones.
For example, if you’re studying in Germany, instead of Munich or Berlin, you can also study in Bremen and Dresden. Chances are that your salary/ part-time job wages will be 5-7% lower than the hub cities, but your living costs will also be much more affordable.
Manage your finances in terms of accommodation, groceries, optimise transport and other miscellaneous costs.
Here are some ways how you can plan and fulfill your dream of MBA abroad at a low cost
Choose Public Universities
Many public universities, like those in the US, UK, and Canada, usually have lower tuition fees compared to private schools, and it can also offer many affordable MBA options abroad.
Apply for Scholarships:
B-schools across the world usually have in-house scholarships for successful candidates, whether it’s fully funded or not. Apply for the scholarships at the time of your MBA application. You can get up to 100% scholarships for your MBA program if you have a good academic profile.
Opt for Shorter Programs (if available):
Many MBA colleges, especially in Europe and the UK offer a 1-year MBA program. These can be academically intense with lots of courses and research work, but will save on your tuition fees and living expenses.
Minimise Living Expenses
Stay in shared accommodation, share grocery costs, don’t eat out often, and optimise your living expenses wherever it is possible. You can get student discounts at many restaurants, grocery stores, parking spaces (if you have a car) and flight bookings have student discounts by which you can save quite a bit of money.
Do Part-time Jobs
Most countries will let you pursue part-time jobs under your student visa, so you can do that to help with your tuition fee and living costs. For example, Germany allows you to work for 20 hours per week under your student visa. You can check the part-time working rules for the country you’re studying in.
Employer Sponsorship
A great way to minimise your MBA tuition costs, check if your company offers employer sponsorship for your MBA program. Many employers give you sponsorship for pursuing your higher education.
How to Apply for an MBA Abroad?
Applying for an affordable MBA abroad is a significant decision and involves a well-planned and strategic process. There are many affordable MBA in abroad for Indian students at low cost. Research thoroughly, gather your academic transcripts, take the GMAT (if required), and apply accordingly.
Step 1: Choose an Affordable Country
-
Since your priority is a low-cost MBA, choose a country that offers quality education at an affordable cost for Indian students.
Step 2: Choose your Program:
- Identify schools and programs that align with your career goals and preferences.
- Consider factors like program structure, rankings, and alumni network. 1-year MBA programs can be more affordable, so that will be an advantage for you.
Step 3: Check Eligibility
- Ensure you have a bachelor’s degree and 2-5 years of work experience.
- Prepare and take the GMAT/GRE and TOEFL/IELTS
Step 4: Prepare Your Application
- Gather your transcripts, update your resume, and secure strong recommendation letters for B-school.
- Write compelling SOPs and essays that showcase your goals and qualifications for an affordable MBA abroad.
- Complete and submit the online application by the deadline.
Step 5: Interview Preparation
-
If shortlisted for MBA colleges abroad with low fees, practice for interviews, focusing on your experiences and goals, and why you want to study in that university.
Step 6: Financial Planning
- Research and apply for scholarships, grants, and loans.
- Plan for tuition and living expenses.
Step 7: Visa and Relocation
- Apply for a student visa upon acceptance. recognized
- Plan your move, including housing and adjusting to life abroad.
From the Desk of Yocket
Choosing an affordable MBA program abroad can open doors to quality education without any financial strain. These top 10 budget-friendly colleges offer Indian students the opportunity to earn a globally recognized degree while managing costs effectively. By selecting the right institution and leveraging scholarships, financial aid, and careful planning, students can achieve their career goals without compromising on their financial stability.
Ready to Study Abroad? Book your FREE consultancy call with Yocket today! Our experts will guide you through selecting the right university, getting through the application process, and exploring financial aid options. Don’t miss out on this chance to get personalised advice and kickstart your global education journey. Schedule your call now!