How do you choose an MBA program that is right for you?

Time

How much time do you have? Are you fresh from college and able to rely on mom and dad for three more years of full time graduate school? Or do you have a family and want to minimize the amount of time spent away from them? Do you need to maintain your full time job while taking courses? All of these are questions you need to ask to determine the kind of program you will be able to successfully complete.

While most Master's degree programs in the US require about two to three years of full time study, the MBA is its own creature, with some minimums at a year and some requiring 24 months. If you are planning on getting an MBA on a part time basis due to family, job or money constraints, this time frame is extended to three or even more years.

So decide if you are going to go part-time, full-time, and how long you want to be involved in the process of getting your MBA.

Money

Graduate education is not cheap in the US and MBA's can be extremely costly, all the way up to $100,000 and over. Add to the general tuition fees your housing, commute time and even the amount of time away from a paycheck-producing job and the cost goes higher. However, with careful research, you most likely will be able to find a program to fit your budget. There are programs that start at $5,000, particularly the distance learning degrees. Ascertain what you can afford and then begin looking at all the available programs that meet your other needs. Keep in mind that the cost of the program is not entirely indicative of the quality of the program. State school programs can be extremely beneficial while costing half or even a quarter of the pricier private schools.

And don't forget other financing options, such as tuition payments from your employer, student loans or even federal grants.