How Much Does An Online Degree Cost?

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?

There is no one answer. A lot depends on what school you go to and what you study. Also, are you planning to get an undergraduate degree or an advanced degree like a PhD?

With that said, let’s look at some of the average costs for different types of college degrees.

How Much Does an Online Degree Cost?

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.

2 Year College Average Cost Per Credit Hour: $135

Online College Average Cost Per Credit Hour: $282

Traditional College Average Cost Per Credit Hour: $594

Private College Average Cost Per Credit Hour: $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. This means 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. It 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 they provide potential students with the flexibility they need at any point in their lives.