
COST OF LIVING
The rise in expenses outside tuition is one of the biggest drivers of the widening MBA price tag, but these figures are not a clean measure of inflation alone. Schools differ substantially in how they build and report their cost-of-attendance budgets, and those methods can change from year to year. Housing and food typically account for the largest share, but estimates may also include health insurance, transportation, books and supplies, personal expenses, student fees, computers, and other expected costs.
For 2026, Poets&Quants therefore labels this category “estimated other costs” rather than simply living expenses.
Estimated Other Costs At The Top 30 U.S. MBA Programs, 2021-2026 |
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P&Q 2026 Rank |
School |
2026 Estimated Other Costs |
2025 Living Expenses |
2024 Living Expenses |
2023 Living Expenses |
2022 Living Expenses |
2021 Living Expenses |
| 1 | Northwestern (Kellogg) | $41,536 | $ 22,059 | $ 21,150 | $ 19,800 | $ 19,800 | $ 17,100 |
| 2 | Harvard Business School | $45,558 | $ 36,568 | $ 34,000 | $ 32,600 | $ 31,390 | $ 30,270 |
| 3 | Columbia Business School | $49,122 | $ 31,986 | $ 27,396 | $ 24,822 | $ 24,822 | $ 24,822 |
| 4 | Dartmouth (Tuck) | $47,795 | $ 33,787 | $ 32,603 | $ 31,620 | $ 30,215 | $ 31,215 |
| 5 | Virginia (Darden) | $35,196 | $ 25,170 | $ 24,570 | $ 22,870 | $ 19,720 | $ 18,430 |
| 6 | New York (Stern) | $48,010 | $ 31,090 | $ 29,344 | $ 28,242 | $ 28,242 | $ 27,420 |
| 7 | Cornell (Johnson) | $38,344 | $ 22,450 | $ 19,428 | $ 18,554 | $ 20,016 | $ 17,865 |
| 8 | Pennsylvania (Wharton) | $47,471 | $ 32,842 | $ 33,804 | $ 26,028 | $ 22,887 | $ 21,720 |
| 9 | Michigan (Ross) | $32,354 | $ 21,016 | $ 18,704 | $ 17,780 | $ 17,780 | $ 16,998 |
| 10 | UCLA (Anderson) | $55,217 | $ 31,962 | $ 30,440 | $ 24,850 | $ 25,200 | $ 25,200 |
| 11 | MIT (Sloan) | $52,433 | $ 23,670 | $ 23,490 | $ 21,694 | $ 23,877 | $ 21,975 |
| 12 | Chicago (Booth) | $42,473 | $ 26,010 | $ 26,010 | $ 26,010 | $ 22,185 | $ 22,185 |
| 13 | Texas-Austin (McCombs) | $24,675 | $ 17,355 | $ 17,300 | $ 17,270 | $ 20,206 | $ 19,478 |
| 14 | UC-Berkeley (Haas) | $46,166 | $ 29,008 | $ 28,428 | $ 26,416 | $ 26,416 | $ 26,014 |
| 15 | Duke (Fuqua) | $35,274 | $ 24,624 | $ 24,048 | $ 23,202 | $ 20,304 | $ 19,256 |
| 16 | Carnegie Mellon (Tepper) | $36,612 | $ 24,890 | $ 23,490 | $ 22,860 | $ 21,400 | $ 20,182 |
| 17 | Yale SOM | $38,076 | $ 26,918 | $ 29,227 | $ 28,266 | $ 25,200 | $ 24,284 |
| 18 | Vanderbilt (Owen) | $36,837 | $ 23,518 | $ 26,844 | $ 22,682 | $ 19,472 | $ 18,594 |
| 19 | Washington (Olin) | $26,720 | $ 26,720 | $ 28,720 | $ 25,490 | NA | NA |
| 20 | Georgia Institute of Technology (Scheller) | $25,396 | $ 22,354 | $ 21,318 | $ 19,710 | $ 19,222 | $ 19,126 |
| 21 | North Carolina (Kenan-Flagler) | $29,420 | $ 19,804 | $ 20,716 | $ 19,268 | $ 19,268 | $ 18,760 |
| 22 | Emory (Goizueta) | $40,896 | $ 27,684 | $ 22,186 | $ 22,186 | $ 21,312 | $ 19,278 |
| 23 | Washington (Foster) | $41,084 | $ 29,668 | $ 29,668 | $ 29,668 | $ 21,248 | $ 21,248 |
| 24 | Southern California (Marshall) | $31,456 | $ 31,456 | $ 29,140 | $ 30,410 | $ 26,980 | $ 24,256 |
| 25 | Georgetown (McDonough) | $40,155 | $ 27,826 | $ 26,826 | $ 26,578 | $ 24,822 | $ 22,696 |
| 26 | Stanford GSB | $51,753 | $ 40,971 | $ 39,888 | $ 38,724 | $ 36,198 | $ 34,806 |
| 27 | Rice (Jones) | $19,800 | $ 19,800 | $ 26,029 | $ 25,014 | $ 24,537 | $ 24,537 |
| 28 | Notre Dame (Mendoza) | $32,340 | $ 16,200 | $ 14,850 | $ 13,050 | $ 10,450 | $ 10,350 |
| 29 | Georgia (Terry) | $27,756 | NA | NA | NA | NA | NA |
| 30 | Rochester (Simon) | $30,959 | NA | NA | NA | NA | NA |
| Source: Business school websites and other publicly available information. | |||||||
THE $100K-A-YEAR MBA IS NOW THE NORM
MIT Sloan now has the highest estimated one-year cost in the top 30 U.S. MBAs at $144,325. It is followed by Columbia Business School at $143,030, Stanford GSB at $140,940, and NYU Stern at $140,668. UCLA Anderson and UC-Berkeley Haas are both approaching $140,000 as well.
Of the 26 schools for which comparable 2025 figures are available, 25 increased their estimated annual cost this year; only Texas McCombs was flat.
The longer view shows how dramatically the MBA price tag has shifted. In 2021, Harvard estimated one year at $112,764; today it is $130,318. Columbia has gone from $118,777 to $143,030, Darden from $100,778 to $123,196, and Stanford from $119,964 to $140,940.
At the other end of the table, a handful of programs still offer a substantially lower sticker price. Georgia Terry comes in at an estimated $63,756 for one year, Georgia Tech Scheller at $70,352, and Texas McCombs at $85,889. The spread between the least and most expensive programs in the Top 30 is now more than $80,000 for a single year.
MBA One-Year Estimated Cost At The Top 30 U.S. Business Schools, 2021-2026 |
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P&Q 2026 Rank |
School |
2026 Estimated One-Year Cost |
2025 Estimated One-Year Cost |
2-Year Change – Annual Total Cost |
2-Year % |
2024 Estimated One-Year Cost |
2023 Estimated One-Year Cost |
2022 Estimated One-Year Cost |
2021 Estimated One-Year Cost |
| 1 | Northwestern (Kellogg) | $130,072 | $128,852 | $1,220 | 0.95% | $ 125,191 | $ 120,432 | $ 117,259 | $ 111,658 |
| 2 | Harvard Business School | $130,318 | $126,536 | $3,782 | 2.99% | $ 118,854 | $ 115,638 | $ 112,306 | $ 112,764 |
| 3 | Columbia Business School | $143,030 | $137,571 | $5,459 | 3.97% | $ 132,258 | $ 127,058 | $ 122,460 | $ 118,777 |
| 4 | Dartmouth (Tuck) | $135,331 | $129,936 | $5,395 | 4.15% | $ 124,514 | $ 120,004 | $ 117,575 | $ 118,815 |
| 5 | Virginia (Darden) | $123,196 | $121,275 | $1,921 | 1.58% | $ 117,217 | $ 108,951 | $ 104,036 | $ 100,778 |
| 6 | New York (Stern) | $140,668 | $135,840 | $4,828 | 3.55% | $ 126,874 | $ 123,253 | $ 121,525 | $ 121,541 |
| 7 | Cornell (Johnson) | $127,278 | $119,994 | $7,284 | 6.07% | $ 111,436 | $ 107,211 | $ 107,622 | $ 101,685 |
| 8 | Pennsylvania (Wharton) | $135,441 | $132,404 | $3,037 | 2.29% | $ 127,716 | $ 124,476 | $ 118,568 | $ 115,464 |
| 9 | Michigan (Ross) | $116,300 | $111,725 | $4,575 | 4.09% | $ 102,984 | $ 99,780 | $ 99,949 | $ 97,566 |
| 10 | UCLA (Anderson) | $137,951 | $131,661 | $6,290 | 4.78% | $ 128,687 | $ 121,591 | $ 117,398 | $ 113,893 |
| 11 | MIT (Sloan) | $144,325 | $129,084 | $15,241 | 11.81% | $ 126,744 | $ 109,180 | $ 119,995 | $ 117,998 |
| 12 | Chicago (Booth) | $132,449 | $129,403 | $3,046 | 2.35% | $ 125,937 | $ 122,160 | $ 115,062 | $ 111,855 |
| 13 | Texas-Austin (McCombs) | $85,889 | $85,889 | $0 | 0.00% | $ 84,605 | $ 82,738 | $ 81,128 | $ 80,324 |
| 14 | UC-Berkeley (Haas) | $138,921 | $133,655 | $5,266 | 3.94% | $ 124,041 | $ 116,178 | $ 115,931 | $ 110,595 |
| 15 | Duke (Fuqua) | $118,974 | $114,952 | $4,022 | 3.50% | $ 110,826 | $ 106,735 | $ 100,269 | $ 97,554 |
| 16 | Carnegie Mellon (Tepper) | $120,798 | $116,428 | $4,370 | 3.75% | $ 111,786 | $ 107,084 | $ 101,922 | $ 97,929 |
| 17 | Yale SOM | $128,976 | $123,936 | $5,040 | 4.07% | $ 119,110 | $ 114,816 | $ 108,780 | $ 104,752 |
| 18 | Vanderbilt (Owen) | $113,537 | $111,149 | $2,388 | 2.15% | $ 107,172 | $ 106,909 | $ 96,155 | $ 93,751 |
| 19 | Washington (Olin) | $102,180 | $96,970 | $5,210 | 5.37% | $ 96,920 | $ 89,740 | $ 87,508 | $ 87,508 |
| 20 | Georgia Institute of Technology (Scheller) | $70,352 | $67,496 | $2,856 | 4.23% | $ 65,654 | $ 61,968 | $ 61,480 | $ 62,072 |
| 21 | North Carolina (Kenan-Flagler) | $103,612 | $102,960 | $652 | 0.63% | $ 102,414 | $ 99,928 | $ 96,676 | $ 94,632 |
| 22 | Emory (Goizueta) | $120,096 | $115,723 | $4,373 | 3.78% | $ 102,931 | $ 104,775 | $ 94,934 | $ 95,475 |
| 23 | Washington (Foster) | $91,165 | NA | NA | NA | $ 115,662 | $ 115,692 | $ 112,254 | $ 107,202 |
| 24 | Southern California (Marshall) | $115,309 | NA | NA | NA | $ 89,769 | NA | NA | NA |
| 25 | Georgetown (McDonough) | $115,171 | $111,487 | $3,684 | 3.30% | $ 106,781 | $ 103,513 | $ 94,934 | $ 95,475 |
| 26 | Stanford GSB | $140,940 | $135,771 | $5,169 | 3.81% | $ 130,746 | $ 126,465 | $ 124,389 | $ 119,964 |
| 27 | Rice (Jones) | $100,239 | $97,123 | $3,116 | 3.21% | $ 99,529 | $ 96,260 | $ 90,537 | $ 80,090 |
| 28 | Notre Dame (Mendoza) | $107,800 | $103,925 | $3,875 | 3.73% | $ 100,366 | $ 92,000 | $ 83,160 | $ 80,390 |
| 29 | Georgia (Terry) | $63,756 | NA | NA | NA | NA | NA | NA | NA |
| 30 | Rochester (Simon) | $90,959 | NA | NA | NA | NA | NA | NA | NA |
DON’T MISS: ACCEPTANCE RATES, YIELD & APPS AT THE TOP 100 U.S. MBA PROGRAMS and THE M7 BY THE NUMBERS 2026: WHAT IT TAKES TO GET ADMITTED TO H-S-W PLUS
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