Key Takeaways:
- Online graduate programs at public schools cost around $29,000, while private schools average $39,600.
- Traditional on-campus graduate programs may sometimes be cheaper than online ones; costs have risen by 60% over the last decade.
- Studying online can offer savings by allowing students to work full-time and avoid relocation costs.
In this guide, we break down the average cost of an online graduate degree to help you plan for your education.
Understanding online master’s degree tuition and comparing the cost of online graduate programs is key to finding affordable online graduate degrees. By assessing graduate degree costs online, you can make an informed decision and avoid unexpected expenses. Here’s what you need to know about the costs of earning an advanced degree online.
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Differentiating Between Private and Public Schools
When you want to earn a professional business or a graduate degree, you must differentiate between private and public schools and how the tuition rates can vary. You may have more opportunities for aid or other financial assistance when you choose to attend a public school over a private school. Teachers and other staff can gift aid to students, and the school can offer school-specific scholarships to students who have performed well and demonstrated their commitment to their students while they attend public schools. This reduces costs and makes earning an advanced degree more manageable.
Cost to Attend a Public Graduate School Online
According to research done by GuidetoOnlineSchools.com, the total cost of attending a public school online for a public graduate degree is $29,000. Since there is no special living expense to attend a school when you are taking a distance education program, the cost for board does not apply. Costs to enroll in and attend a private online graduate program in a not-for-profit setting average at around $39,600. As you can see, in just two years, you will pay an average of $5,000 more per year to attend a private school.
Also see: Average Cost of a Master’s Degree
Comparing the Costs of Online and Traditional Programs
Now that you know the costs of attending school online, you should educate yourself on the price of earning your degree traditionally. Surprisingly, earning your degree on campus may cost you less. The average cost to earn a graduate degree at a public school is $29,842 per year; at a private school, it is $34,100. Tuition is lower when you go on campus, but the actual costs have still jumped 60% over the last 10 years.
How Can You Save When You Pay Higher Tuition?
Online tuition rates may be higher overall, but that does not mean there is no potential to save if you take a program online. When you study online, you can complete coursework and lessons at the best time for you. This means that you can still work full-time and attend school so that you can pay for it. You also do not have to relocate to attend a school if you live far away from all campuses.
You should always compare the cost of tuition when comparing grad schools. Costs should be a significant concern if you cannot afford to pay for your education outright. Once you have researched the cost of a graduate degree from school to school, you can then start to become competitive for admissions.
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