4. Talk to current students. "There's no substitute for talking to current students to give you a sense of what is really happening in the program," says Cates. Conversations with professionals currently enrolled in the program will help you determine whether the program may meet your needs, she adds.

5. Evaluate whether the program offers career support. Good online MBA programs will offer leadership development and career coaching, says Cates. They also offer robust alumni networks that can come in handy when you're looking for a new job.