When online education first became available, it was too costly for most people to take advantage of. Even factoring in the savings from eliminating drive time and expenses, the cost was too high. Recently, however, costs have dropped rather dramatically for online learning. But have they really fallen enough to allow the typical worker to attend an online school? And are similar programs available online?
The tuition and fees vary considerably from school to school and even program to program within schools. Some general comparisons can help you decide if online learning fits your budget and includes the program you are wanting to complete.
How expensive are tuition and fees for a Bachelor’s degree online?
Bachelor’s degrees are available in basically the same areas online as they are in a traditional school. The costs, however, are very different. An average for the online Bachelor’s degree will run $45,000-$50,000 for the 120-credit program. A traditional public school will probably cost more like $15,000 for those with residency status for the same degree.
How do tuition and fees for a graduate degree online compare to other colleges?
Graduate degrees are also now available online. Master’s degrees usually require about 65 credits and cost about $400 per credit on average, for a total of $26,000. The traditional public school rate for those with residency will likely cost about $10,000 less, partly because there are 5 fewer credits to take.
The Doctoral degree can also be obtained online in many programs. The online cost can run $36,000-$45,000 for regular tuition and fees. The traditional college will likely run less than $25,000.
Are there extra costs to get a degree online?
All graduate degrees typically have some extra fees, but the online courses might be a bit pricier. The average cost is about $2000 just for the fees. Many often require seminars or other residency, for which the student will have to cough up room and board as well as transportation. Seminars can last as many as 4 days.
Other expenses to consider are those of books. In 2008, the average student spent $500 each semester for books. Online students may have some relief through the use of online texts that are not required to pay for or that are cheaper than traditional books, but they also have computer requirements that may necessitate upgrades.
How can I lower the cost of online degree programs?
Don’t let these numbers scare you away from working toward a degree. Financial aid is available for all students, those in online courses as well as those in traditional schools. Government grants, private grants and a variety of loans can help cover college costs. Many online colleges post that at least 75% of the students attending their school get some kind of financial aid to help defray costs.
Also consider the savings of online schooling besides the potential cost savings from textbooks. Since you don’t have to drive, you don’t have costs for gas or wear-and-tear on your car. If you have young children at home, you might be able to avoid daycare costs. More importantly, you are able to keep your current job, perhaps even working full time while attending class full time, giving you what might be needed income as you work toward your degree.
So which choice is best?
If you are still worried about expense of a degree program, consider how quickly you will recoup these costs, whichever method you choose, once you have that degree. Once you have decided to take the plunge, the decision about which method to choose is a personal one. Search carefully to find an institution that fits all your needs, and be certain to include both traditional and online schools in your search. Being completely informed will help you make the best choice.
