Introduction: Why Choose an Affordable Online Graduate Program?
While a master’s degree is valuable, many professionals are hesitant to earn one. Master’s degrees can be time-consuming and expensive, especially on-campus ones. Fortunately, many online colleges are offering master’s degrees in various fields, from STEM fields to business and humanities.
Online master’s degrees are more affordable, flexible, and accessible than on-campus programs. According to the Education Data Initiative, you can save about 31% on online degrees. You can also work while studying, as the majority of online master’s degrees follow an asynchronous learning format.
You have access to several affordable online graduate programs. However, with so many options, choosing which school can live up to its promises can be challenging.
Featured Programs
This post will include the top ten online colleges with affordable graduate programs. We will also give you practical tips on choosing the top affordable online graduate programs that align with your needs and goals.
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Top Online Colleges Offering Affordable Graduate Programs
Arizona State University
Graduate Tuition: $543–$1,343 per credit hour
Financial Aid Available:
- Grants
- Loans
- Scholarships
Arizona State University is a top school for innovation, having been one of the pioneers of online education. While its tuition fees are low, students can expect a high-quality learning experience. Graduate students choose ASU for its high-quality degrees, personal attention from faculty, and opportunities to boost their careers and expand their knowledge.
ASU Online graduate majors include:
- Business
- Education
- Engineering
- Health and Nursing
- Humanities and arts
- Law and public service
- Science
- Social and behavioral sciences
- Technology
University of Utah
Graduate Tuition: $500 per credit hour
Financial Aid Available:
- Scholarships
- Loans
- Grants
The University of Utah’s online master’s degree programs are meticulously designed and delivered by distinguished field experts. Students have access to affordable, high-quality programs and a range of virtual university services, including program advisors, career support, writing assistance, online library resources, and IT support.
Here are some of the top affordable graduate degrees online offered by the University of Utah:
- Business Administration
- Business Creation
- Cybersecurity Management
- Engineering Management
- Information Systems
- Legal Studies
- Public Health: Health Equity Emphasis
- Special Education (Applied Behavior Analysis emphasis)
- Systems Engineering
Bellevue University
Graduate Tuition: $649 to $660 per credit hour
Financial Aid Available:
- Grants
- Scholarships and Other Grants
- Work Options
- Loans
- Private Education Loans
- Military and Veteran Benefits
- Employer Tuition Assistance
Did you know that Bellevue University is among the top schools with several partnerships with other organizations? Bellevue collaborates with more than 75 entities to provide cost-effective, career-enhancing education. Additionally, certain employers may offer tuition reimbursement to offset degree expenses.
Its online graduate programs are also ranked highly for having the most generous transfer credit policies. This allows transfer students to maximize the credits earned from their regionally accredited bachelor’s degrees, thereby accelerating their progress and reducing overall costs. Bellevue offers master’s degrees in the following fields:
- Arts and Humanities
- Business
- Education and Teaching
- Health and Health Professions
- Psychology and Social Sciences
- Public and Human Services
- Science, Math, and Technology
Western Governors University
Graduate Tuition: $8,856 yearly tuition
Financial Aid Available:
- Pell Grants
- Student Loans
- Scholarships
- Military Benefits
Western Governors University does not follow a per-credit-hour rate, unlike other schools. WGU provides a fixed-rate tuition structure whereby the cost remains constant irrespective of whether you complete eight courses or 20 within a given term. WGU Online offers the following cheap online master’s degrees:
- Business Master’s
- Education Master’s
- Nursing Master’s
- Healthcare Master’s
- Information Technology Master’s
Liberty University
Graduate Tuition: $565 (Full-Time); $615 (Part-Time)
Financial Aid Available:
- Scholarships
- Grants
- Loans
- Payment Plans
Liberty University has a very strong online presence, enrolling more than 115,000 online students annually. Beyond offering low tuition rates for their programs, Liberty also emphasizes flexibility. Its online master’s degree programs are conducted in asynchronous formats to give students full control over their study schedules.
Additionally, Liberty Online allows graduate students to transfer up to 75% of their bachelor’s degree credits to reduce tuition costs. You can find the following affordable graduate degrees at Liberty Online:
- Aeronautics
- Arts and Sciences
- Behavioral Sciences
- Business
- Communication
- Criminal Justice
- Divinity
- Education
- Engineering
- Government
- Health Sciences
- Law
- Music
- Nursing
University of Florida
Graduate Tuition: $12,740 Annually
Financial Aid Available:
- Grants
- Scholarships
- Student Employment
- Loans
- Non-SFA Administered Aid
UF Online students earn the same degree and learn from the same faculty as on-campus students but save 40% on costs. UF provides a range of financial aid options to make obtaining a top-quality degree more affordable. In fact, UF Online is one of the few online colleges to offer student employment opportunities, tuition waivers, and special financial aid to its distance learners.
Some of the graduate majors you can expect to see at UF Online include:
- Engineering
- Agricultural & Life Sciences
- Medicine
- Health & Human Performance
- Arts
- Public Health & Health Professions
- Business
- Education
- Design, Construction, and Planning
- Liberal Arts & Sciences
- Journalism and Communication
- Pharmacy
Weber State University
Graduate Tuition: $17,569 Annually
Financial Aid Available:
- Scholarships
- Grants
One of the top colleges and universities in the country with relatively low student loan rates is Weber State University. With tuition costs almost 40% lower than the national average, Weber also offers a variety of institutional scholarships that online students can apply for. You can also try to apply for off-campus jobs while studying at Weber State to earn money and experience while pursuing your master’s degree.
Weber State offers the following online master’s degrees:
- Criminal Justice
- Executive Master of Health Administration
- Master of Taxation
- Nursing Educator
- Nursing Executive
- Radiologic Sciences
- Systems Engineering
Florida State University
Graduate Tuition: $444 to $625 per credit hour
Financial Aid Available:
- Grants
- Loans
- Scholarships
Florida State University Online is among the best value schools, offering low tuition fees, personalized learning experiences, and vast student support services. Many programs provide competitive assistantships that can cover full tuition, along with scholarships and fellowships. Additional funding options include FAFSA, external loans, and specific incentives like the Florida State Employee Tuition Waiver and the C. W. Bill Young Veteran Tuition Waiver Program.
FSU Online offers several graduate programs with low tuition in the following areas:
- Applied Studies
- Arts and Sciences
- Business
- Communication and Information
- Criminology and Criminal Justice
- Education, Health, and Human Sciences
- Engineering
- Fine Arts
- Hospitality
- Law
- Medicine
- Nursing
- Social Science and Public Policy
- Social Work
National University
Average Graduate Tuition: $442 per unit
Financial Aid Available:
- Grants
- Loans
- Scholarships
With over $50 million in scholarships awarded annually, National University has maintained its reputation as one of the most affordable colleges. Its online campus is designed for those keeping full-time and part-time jobs and who want to save time and money earning a degree. As a master’s degree student online at NU, you can choose between 4- and 8-week courses.
Some of the most popular master’s degrees online at NU include:
- Criminal Justice Leadership
- Accounting
- Education and Teaching
- Counseling and Therapy
- Forensic Sciences
- Healthcare Administration
- Forensic Psychology
- Sport Psychology
- Technology Management
- Social Work
Southern New Hampshire University
Graduate Tuition: $637 per credit hour
Financial Aid Available:
- Scholarships
- Grants
- Loan
If you’re looking for online master’s programs on a budget, consider Southern New Hampshire University. Online students will also gain access to a virtual library with 24/7 chat assistance.
Also emphasizing flexibility, SNHU courses are divided into weekly modules with clear due dates. You can complete assignments in two days or spread them out over the week, choosing times that best fit your productivity habits. Here are some of the online master’s degrees offered by SNHU:
- MBA Online
- Master’s in Project Management Online
- Master’s in Psychology Online
How to Find Affordable Graduate Programs
One of the mistakes students make when searching for affordable online graduate programs is basing their search on tuition alone. Much like undergraduate studies, graduate studies also incur additional fees. Sometimes, there are even more hidden fees, especially for master’s degree programs that require practical experience or a thesis.
Here are a few practical tips on how to find affordable graduate programs online:
- Opt for low tuition fees: Tuition is the largest cost of pursuing online education. The average annual tuition cost of a master’s degree is $19,749. We advise you to choose online master’s programs that fall below the national average.
- Ask about hidden fees: Online learning can be affordable, but it also incurs fees. Ask the college about how much extra fees might be for things like technology, materials, or access to certain resources.
- Inquire about financial aid: Ask the college about financial aid options and how to apply. Graduate programs with financial aid options allow you to reduce out-of-pocket costs significantly.
Financial Aid and Scholarships for Online Graduate Students
There are several ways on how to pay for online grad school. As an online student, you’re also entitled to the following financial aid:
- Grants: These financial aid opportunities are commonly need-based. Grants are free money; however, there are instances where you may need to pay back the money you’ve received if you don’t follow the contract’s terms.
- Scholarships: Also considered free money, scholarships can be based on merit or need. The Federal government, institutions, and private organizations offer them. For private scholarships, here are a few trusted sources to visit:
- Loans: You can take on loans from private establishments like banks or credit unions; however these accrue higher interest rates compared to federal loans. Talk to your trusted financial advisor before applying for student loans.
Tips for Reducing Costs in Online Graduate Programs
In addition to seeking out financial aid, you can also try the following approaches to reduce financial burden:
- Enroll part-time: This strategy allows you to pay less per semester and provides the flexibility to work while studying to support yourself financially. It can also help you balance your workload and manage your time more effectively.
- Inquire about employer tuition reimbursement: Tuition assistance is the process where an employer reimburses employees for tuition or other education expenses. If you’re working for a relatively large company, there’s a great chance for tuition assistance.
- Search for low-cost course materials: This means buying used textbooks, renting digital versions, or using open educational resources to save money. If you must buy a new book, keep it in good condition to increase the chances of reselling it and recouping some of the cost.
Conclusion: Balancing Quality and Affordability in Your Graduate Education
The best value online graduate degrees offer low costs but high-quality learning experiences. You can even find online graduate programs under $10,000—after financial aid. You just need to research and compare tuition, hidden fees, and financial aid opportunities.
Regardless of whether you pursue an affordable graduate program online at a lesser-known institution, as long as it is accredited and meets industry standards, your degree will still be valuable.