Tuition & Expenses

Information about the tuition and expenses associated with the Penn State Smeal MBA.

As a land-grant institution, Penn State offers competitive tuition and is recognized as a top business school in return on investment. According to Forbes' 2013 rankings, a Smeal MBA pays for itself within 3.5 years, and a 2014 Bloomberg report ranked the Smeal MBA program second in return on investment, stating that Smeal MBAs received "close to half what they invested in business school the first year after graduation." Additionally, the U.S. News & World Report found that the Smeal MBA has "one of the highest salary and bonus-to-debt ratio[s] for the Class of 2015" at 3.1-to-1. With the majority of our students receiving fellowships and scholarships, the Penn State Smeal MBA is an even better investment. 

Below are estimated tuition expenses for the current academic year for the Penn State Smeal MBA Program. Estimated housing expenses are based upon on-campus graduate housing fees, which may be lower than off-campus options.

Estimated Expenses for the 2019-20 Academic Year
Expenses Pennsylvania Residents Out-of-State Residents
Tuition $26,938 $43,296
Fees $1,034 $1,034
Orientation Fees $170 $170
Communications Course $30 $30
Room, Board, & Personal $17,400 $17,400
Laptop Computer $1,300 - $2,200 $1,300 - $2,200
Books & Supplies $2,200 - $2,500 $2,200 - $2,500
Global Immersion (first year only) $2,150* $2,150*
Health Insurance (required for international students)

$659.20 for MBA Fellows

$3,296 for Non-MBA Fellows

$659.20 for MBA Fellows

$3,296 for Non-MBA Fellows

Student Association Memberships

While optional, student association memberships are highly recommended, especially for those who wish to pursue a leadership position within the class.

MBA Association - $300 (Lifetime Membership)

Other Student Associations - $30 to $50 per association

* While we strive to be accurate and minimize the cost of Global Immersion, small increases may be necessary due to increased lodging costs and changes to currency exchange rates. Students will be notified of these changes as soon as possible. Also note that Global Immersion expenses are not covered by Fellowships.

Source: Penn State Tuition and Fees Schedules