Tuition & Financial Aid

Tuition

The Labovitz MBA is designed to keep tuition costs as affordable as possible. Designed for those who live in the Duluth and Rochester regions, costs are evaluated based on area income levels, and overall degree return on investment for students. Among AACSB-accredited programs, we aim to ensure our degree is accessible to as many students as possible.

One way we enable this affordability is by placing the prerequisite courses outside of the MBA program rather than incorporating them. By doing so, we reduce the overall number of graduate-level courses (and thus the graduate-level tuition) required.  When comparing costs, make sure to compare total program costs—not just the per credit cost. You will see that the Labovitz MBA is competitively priced, especially for an AACSB-accredited program with the global recognition of the University of Minnesota.

Tuition Costs (2021- 22) Duluth Rochester
Per Credit

$984 per credit

$1,092 per credit

Per Course (1 credit)

$984

$1,092

Per Course (2 credits)

$1,968

$2,184

Per Course (3 credits)

$2,952

$3,276

Total Program

$31,488

$34,944


Other information about Tuition costs, fees and other financial topics can be found here.

Financial Aid

The 2022-2023 Fellowship application will open during May 2022. We will send an email to current students as soon as the application period opens.

A number of employers provide tuition reimbursement assistance to employees who attend the Labovitz MBA program. In addition, there are a number of other ways to obtain assistance in covering the cost of a Labovitz MBA.  See below:

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Thomas & Mary Duff Graduate Tuition Fellowship

Thomas & Mary Duff Graduate Tuition Fellowship

The fellowship is intended to provide funds for graduate students enrolled in the Labovitz MBA Program in honor of Thomas B. Duff, a long-time faculty member and previous MBA director. The Labovitz School of Business and Economics is delighted to announce the availability of the Tom and Mary Duff Graduate Tuition Fellowship at $1,500 for the academic year. Applications will be made available in May 2022 with an application deadline of July 10, 2022.

Fellowship criteria include:

  • Current MBA Student or Applicant Eligible for Admission
  • Good Academic Standing
  • Exceptional Potential in their Field

Fred C. and Mary H. Lewis UMD MBA Scholarship

Fred C. and Mary H. Lewis UMD MBA Scholarship

Offered in partnership with the Duluth Superior Area Community Foundation, the UMD Labovitz School of Business and Economics (LSBE) is delighted to announce availability of the Fred C. and Mary H. Lewis UMD MBA Scholarship. The annual scholarship award typically ranges from $9,000 to $12,000 and may be renewable for a second year based on performance in the program and responsible citizenship. Applications will be made available in May 2022 with an application deadline of July 1, 2022. *Please note that this application is due sooner than the others.

Fellowship criteria include:

  • High school graduate from Duluth, Superior, Proctor, Esko, and Hermantown who will be enrolled as a full-time student in the Labovitz MBA program
  • An undergraduate GPA of 3.00 or higher
  • Financial need

Maki Graduate Tuition Fellowships

Maki Graduate Tuition Fellowships

Thanks to funding from a private donor, the Labovitz MBA program is delighted to announce the availability of two Maki Graduate Tuition Fellowships at $6,000 each for the academic year. The Fellowship may be renewable for a second year based on performance in the program. Students who previously received the undergraduate Maki Scholarship will be given preference for the Maki Graduate Tuition Fellowship. Applications will be made available in May 2022 with an application deadline of July 10, 2022.

Fellowship criteria include:

  • Demonstrated Financial Need
  • Academic Caliber
  • Level of Prior Work Experience

LSBE Graduate Student Tuition Fellowships

LSBE Graduate Student Tuition Fellowships

The Labovitz MBA program also has a limited number of LSBE Graduate Student Tuition Fellowships. Thanks to funding from the Graduate School, we will be offering merit fellowships ranging from $1,000-$2,000 to students admitted into the MBA program. Applications will be made available in May 2022 with an application deadline of July 10, 2022.

  • Academic Merit
  • Level of Supervisory Work Experience and Ability to Bring This Work Experience into the MBA Classroom
  • Academic Commitment to the Program
In addition, federal educational loan programs also provide funding for graduate level programs such as the Labovitz MBA.  You can find out more information about loan opportunities here.

2018-2019 Fellowship Recipients

2019-2020 Fellowship Recipients

2020-2021 Fellowship Recipients

2021-2022 Fellowship Recipients will be announced in August