Tuition & Aid
The Wisconsin MBA ranks high for return on investment due to low tuition and fees, moderate living expenses, and low salary-to-debt ratio.
Graduate With Minimal Debt
Cost is a big factor as you consider where you will earn your MBA. At UW–Madison, the numbers are clearly in your favor.
Class of 2023
Tuition, Fees, & Expenses
The following costs apply to the 2023–24 academic year. The cost of attendance is based on a nine-month period.
|Books and supplies
|Room and board
- Minnesota residents may be eligible for reduced tuition as participants in the Minnesota–Wisconsin reciprocity agreement. See details below.
- Tuition rates vary from year to year, and are determined by the The University of Wisconsin System Board of Regents, based on budgets approved by the Wisconsin governor and legislature. Tuition is reviewed and set annually in August. For more information about tuition rates, please visit the Bursar’s Office website.
- Segregated fees are charges assessed to all students for student services, activities, programs, and facilities that support the mission of University of Wisconsin System institutions, including UW Madison. The segregated fee rate is updated each summer by the UW Board of Regents.
- Program fee is a one-time fee that applies to first-year MBA students only.
- Estimated expenses are provided by the University of Wisconsin–Madison Office of Student Financial Aid. The miscellaneous amount includes an allowance for health insurance, separate from your general health care costs. Individual plan cost may vary.
- Estimated one-time cost if the student purchases a new computer. See computer requirements below for details.
- Estimated travel expenses for the optional MBA Global Course offered during winter break each year.
- Estimated yearly cost before financial aid is applied.
Additional Details About Costs
Wisconsin residency for tuition purposes is determined prior to enrollment and remains constant for the duration of your program. Students who attended a Wisconsin high school and whose parents are residents of the state for the 12 months prior to enrollment may be considered a resident of the state for tuition purposes, even if the student does not currently live in the state. Exemptions also apply for candidates whose spouses transferred to the state for employment purposes and for members of the military currently stationed in Wisconsin on active duty. More information regarding residency for tuition purposes is available from the Office of the Registrar.
Minnesota residents may be eligible for reduced tuition as participants in the Minnesota–Wisconsin reciprocity agreement. Students certified under this agreement, although classified as nonresidents, are assessed the comparable instructional fees in effect at the University of Minnesota–Twin Cities campus, plus the segregated fees assessed to all UW–Madison graduate students. Contact the Minnesota Higher Education Services Office for a reciprocity application.
There are many benefits to being awarded a graduate assistantship—which include teaching and project assistantships. Students receive full tuition, health care benefits, and a living stipend. The positions are also a résumé booster. If awarded an assistantship, you will learn new skills and diversify your professional experience by working with students and faculty of different backgrounds.
At the Wisconsin School of Business, a limited number of incoming MBA students are awarded teaching and project assistantships. TA positions are typically filled by doctoral candidates or second-year MBA students who have demonstrated competency in the course in question. More than 85% of second-year MBA students receive a teaching assistantship. The stipend for assistantships varies based on type and appointment.
The Wisconsin School of Business requires all graduate students to have access to their own personal computers, which should be equipped with the Windows Operating System and appropriate software. To meet this requirement, all first-year MBA students who apply and qualify for financial aid based on their FAFSA application automatically have an additional $1,500 included in their cost of attendance calculation to allow for the purchase of a computer. Computer hardware and software specifications are included in the newly admitted student guide. For additional information, please visit the Wisconsin School of Business Tech Store.
The Wisconsin MBA program offers an annual global course for first- and second-year MBA students. This course includes travel to an international destination during the winter break. Students interested in this course should budget $2,500–$3,000 for travel expenses. Students may take this course in both years if they choose.
As a UW–Madison student, you have the option to purchase health insurance through University Health Services. There are plans for student only, student plus one, and student plus family. International students are required to purchase health insurance through the Student Health Insurance Plan (SHIP). Other options for U.S. citizens and permanent residents are through the health insurance marketplace. Costs vary based on plan.
Many academic and administrative offices hire MBA students to work on departmental projects or assist with MBA recruiting. These positions will be communicated to all MBA students as early as August. Any student can apply and be considered for an hourly work assignment.
The UW Student Job Center lists part-time, limited-term employment (LTE), graduate assistant, and summer job openings at the University of Wisconsin–Madison and in the private and public sectors. Many students work part time to help offset the costs of their graduate education.
Students who are pursuing the joint JD/MBA degree will pay the combined Law Business Master’s tuition during the time they are enrolled as full-time MBA students in the Wisconsin School of Business. For more information on the cost of tuition and segregated fees, please visit the Bursar’s Office.
Courses taken during the summer term are charged on a per-credit basis plus segregated fees. Resident and nonresident rates apply. International students on F-1 visas who obtain/participate in a paid internship during the summer term may incur a cost of approximately $2,330 for General Business 750 (1 credit) which is required for Curricular Practical Training (CPT). For current tuition rates see the Tuition and Fees website. For additional information on CPT contact International Student Services.
Scholarships & Support
Substantial scholarships and financial support further reduce your cost. Generous support from our alumni, friends, and the career specializations enables the Wisconsin Full-Time MBA program to award several types of merit-based aid each year. There are a variety of need-based financial aid options available.
Merit-Based Financial Aid
Historically, more than 90% of MBA students receive merit aid. In 2023, more than 95% of first-year students in the Class of 2024 and Class of 2025 received merit aid, and the remaining students received full funding through a company, the government, or the military.
When you apply to the full-time MBA, you are automatically considered for merit aid. Awards are based on a holistic review of your application. We evaluate your work and leadership experience, test score, undergraduate performance, as well as your admissions interview. We do our best to consider all of your qualifications so you can optimize the aid available to you.
For best consideration, apply as early as possible. View admissions deadlines.
Each year, the Wisconsin School of Business has a select number of Distinguished Fellowships for exceptional students who demonstrate leadership potential, as well as a strong admission profile in areas such as work experience, test score, undergraduate performance, and the admissions interview. These awards provide an estimated $24,545.00 stipend paid out over nine months, in addition to a one-year full-tuition award and health insurance.
Dean’s Scholarships are for outstanding students who support the mission of the University of Wisconsin–Madison and have been leaders at their undergraduate institution, in their careers, or in their community. Students are evaluated for this award based on their total admissions profile, which includes work experience, test scores, undergraduate performance, leadership potential, and the admissions interview. Students will be considered for tuition awards as well as scholarships.
Alumni Scholarships are provided through the generous support of our Business Badger and UW–Madison alumni. Students are evaluated for this award based on their total admissions profile, which includes work experience, test scores, undergraduate performance, leadership potential, and the admissions interview. Students will be considered for tuition awards as well as scholarships.
Students who demonstrate strong academic skills and leadership abilities are considered for Together Forward Scholarships ranging from $1,000 to $10,000 per academic year. Scholarships will be awarded for specific terms ranging from one to four semesters.
Students who demonstrate leadership and a commitment to helping women advance in business and as community leaders will be considered for the Women in Business Award of Excellence. Students will be considered for tuition awards as well as scholarships.
Students’ prior global experiences are valued and add enrichment to the Wisconsin MBA Program. Students who demonstrate global leadership experiences will be considered for tuition awards as well as scholarships.
As a Forté sponsor school, Wisconsin is committed to developing female business leaders. Forté’s mission is to increase gender equity in business. Forté Fellows receive financial support through scholarships or other merit aid for each of their two years as a full-time MBA student.
We value community leadership and will recognize leaders who give back to their communities. Students who demonstrate leadership, community involvement, and academic excellence will be considered for this fellowship. Students will be considered for tuition awards as well as scholarships.
Students who are a part of/supportive of the LGBTQI community and allies will be considered for scholarships. The Wisconsin School of Business is committed to creating a diverse and inclusive community and will award scholarships to students who can demonstrate their support and commitment to fostering an inclusive environment. Students will be considered for tuition awards as well as scholarships.
U.S. Military service members, including both veterans and those in active duty, will be considered for tuition awards, as well as scholarships. Students are evaluated based on the strength of their application, along with their leadership experience.
The mission of The Consortium for Graduate Study in Management is to increase the representation of African Americans, Native Americans, and Hispanic Americans in education and business. Consortium fellowships are provided by the Wisconsin Full-Time MBA Program and include a tuition award and a scholarship for the duration of the MBA program.
Need-Based Financial Aid
To be considered for both loans and work study, students must first submit the Free Application for Federal Student Aid (FAFSA) to the University of Wisconsin–Madison by including our school code 003895. Only U.S. citizens and eligible noncitizens may apply.
The Office of Student Financial Aid reviews FAFSAs and determines types and amounts of financial aid eligibility. Eligible graduate students can receive the Unsubsidized Federal Direct Loan and sometimes Federal Work Study. If funding above and beyond what is offered is needed, students can also apply for a GradPLUS Loan or other private loans.
Though there is no official deadline for applying for financial aid, students are encouraged to submit the application as early as possible to avoid any delay in disbursement of those funds.
Please contact the Office of Student Financial Aid with any questions.
International students are not eligible for federal student loans and should look to other options in their home country to assist with covering costs. Information about funding options is available from International Student Services at the University of Wisconsin–Madison.