How Much Does an Online Degree Cost? 2
How Much Does an Online Degree Cost?
There is no doubt that a college education pays off - on average, a college graduate earns $1,000,000 more than a high-school only graduate over the course of their lifetime, according to the College Scorecard. Individual earnings vary greatly from person to person based on what level of degree you earn, what you study, and what kind of career you choose to pursue.
The cost of a college degree can vary wildly as well. It's no secret that tuition prices have skyrocketed in the last few decades. Online degrees aren't necessarily cheaper than traditional on-campus degree programs, but choosing an online degree program can save you money in commuting costs and materials, and most importantly, give you the flexibility to work while you earn your degree more easily than if you had to take classes in-person.
School Name Out-of-state Total Program Cost
Coastal Carolina University $128,400
College of Coastal Georgia $16,320
In-state vs. Out-of-State Online Colleges
One of the main reasons that you might be considering an online college is because it frees you up from having to visit a campus, meaning you could attend college anywhere, regardless of where you live or work. This is absolutely true, and it means that you can consider colleges and online degree programs that wouldn't be available to you if you had to attend traditional in-person classes.
Many students enroll at public colleges in their own state to qualify for lower in-state tuition rates. However, several public colleges now offer in-state tuition rates to all online students, even if you don't live in the same state as the school. This can mean savings of thousands of dollars a year, which means you pay less out-of-pocket and take out fewer loans. If you are looking for a degree with a high return on investment, or are entering a field that doesn't pay a six-figure salary, do your research to find out if the program you are interested in can be found somewhere where you qualify for in-state tuition.
Consider Your Options
There are three main types of online schools, and each offers different advantages when it comes to cost:
Average Tuition and Fees by Type of Institution, 2016–17
4-YEAR INSTITUTIONS 2-YEAR INSTITUTIONS
Public $8,800 $3,500
Private Nonprofit $33,500 $17,300
Private For-profit $16,300 $14,500
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