They’re everywhere – online schools and colleges offering degrees that are flexible, accredited and cheaper than traditional colleges.
It begs the question – exactly how much are accredited online degrees?
Average Cost For Undergraduate Degree From Tradition College: $30,000 to $45,000+ (this includes cost like room and board, books, food and transportation.)
Average Cost For Undergraduate Degree From Online College: $15,000 to $25,000 (this includes costs like books, tech fees, computer and internet)
What’s creating the cost savings if both degrees are accredited?
Housing, food and transportation impact the cost, but perhaps the biggest savings factor is the cost per credit hour.
Average Cost Per Credit Hour 2 year College: $135
Average Cost Per Credit Hour Online College: $282
Average Cost Per Credit Hour Traditional College: $594
Average Cost Per Credit Hour Private College: $1,039
On average, 2 year junior colleges still offer cheaper tuition – although will you will find some online degrees in the $100 per credit hour range.
But as you can see, you can expect to pay half of what you’d pay for traditional college with an online institution.
Ok great, the online degree is cheaper, but does it carry weight in the workplace?
Yes! But make sure it’s an accredited institution – meaning the online college or school has taken the time to get accredited by experts using U.S. Department Of Education standards.
While no degree will guarantee you a job – studies show they lead to higher employment rates and pay.
Accreditation also opens up the possibility for financial aid and even helps you transfer credits to another accredited school or college, should you end up moving for one reason or another.
In the end, online degrees can offer significant cost savings and provide potential students with the flexibility they need at any point in their lives.