Most Affordable Online Colleges & Degrees

How Much Does an Online Degree Cost?

OnlineU analyzed internal cost data from over 800 schools and found a median annual tuition rate of $13,919 for an online bachelor's degree and $14,278 for an online master's degree.

However, there are many online bachelor's and master’s programs that are even more affordable. Of the cheapest online colleges, tuition for a bachelor's degree ranges from $5,067-$7,891 per year. Meanwhile, the most affordable colleges for master's degrees have annual tuition rates between $2,700-$5,467.

Degree	Online Median Annual Tuition	Sample Size
Associate	$8,300	687
Bachelor's	$13,919	846
Master's	$14,278	871
Doctorals	$14,925	378

It may be helpful to compare tuition rates by their cost per credit instead of per year. For example, some degrees take longer to complete than others — even degrees of the same level. Students may also prefer to attend school part time. In these cases, it's more helpful to think in terms of total credit hours rather than years or semesters. The following chart breaks down the median cost per credit hour of different types of degrees:

Degree	Typical Number of Credits	Cost-Per-Credit of OnlineU Schools
Associate	50 - 60	$60 - $1,282
Bachelor's	120 - 128	$106.8 - $1,325
Master's	30 - 60	$180 - $4,836
Doctorals	36 - 120	$277 - $1,995

Online College vs. an On-Campus Experience: Which is Cheaper?

Our research shows that public and private colleges are typically cheaper for online learners than in-person students.

According to a sample of 100 schools, 80% of public schools offer lower rates for out-of-state students studying online, while 96% of private schools also have cheaper online programs for this population group. In addition, more than a third of public schools charge in-state students less when they study online.

There are several reasons for the relative affordability of online programs. Some public colleges charge online students the same rate as in-state residents no matter where they live, which can potentially save tens of thousands of dollars over the course of a degree. Similarly, private schools may also charge a lower rate to distance learners. Even though some schools still charge the same amount to all college students, online students rarely pay higher tuition than their on-campus colleagues.

It's important to keep in mind that individual distance learning programs are not always more affordable than in-person programs, so students should research the costs of their individual program before applying. In addition to tuition, applicants should note each program's length and the amount of financial aid they can secure from the school.

For example, while for-profit colleges appeal to many applicants because they frequently allow students to take more classes per year, they may leave students in a more precarious financial situation after graduating. Although for-profit colleges may shorten the program length to make room for more classes, this attractive feature may be offset by higher tuition overall. In addition, these universities tend to offer less financial assistance than other types of schools, which means their students end up taking out more loans. As a result, the alumni of for-profit schools tend to accrue more debt and default on their loans at higher rates.

Additional College Cost Factors Besides Tuition

Although low tuition is something many students look for when pursuing a college education, it's not the only expense to consider. Often, there are other costs that online students must pay:

Despite these additional costs, online students can avoid other expenses, such as room and board, by maintaining their current living arrangements. They also save by not commuting to and from campus, from gas money and car maintenance fees to public transportation costs. Ultimately, distance learners don't need to uproot their lives when enrolling in an out-of-state program, which can be an expensive experience for in-person students.

Financial Aid for Online Students

Financial aid can lower the total cost of higher education, easing a student's financial burden by leaving them with less debt after graduation. The best forms of aid don't need to be repaid: grants, scholarships, and work-study programs. However, most students still need to take out loans to finance their degrees. Students should prioritize student loans from the government first because they offer better interest rates than private sources.

Applicants simply turn in their personal and financial information to determine whether they qualify for federal aid. Although students with undocumented immigration status cannot apply for federal aid, they should still check with their state for an alternate form to complete, so they can acquire state and private aid.

In general, online learners qualify for the same financial aid programs as on-campus students, but students should verify each program's eligibility requirements. It may also be beneficial to contact a school's financial aid office to ensure that they accept the aid that a student has already received.

Below are some of the major financial aid sources that prospective students can investigate:

Students may benefit from contacting their college’s financial aid office after enrolling. Administrators may be able to guide students to aid programs that they had not even considered. Also, it's the best practice to apply for as much assistance as possible because having multiple sources of financial aid helps reduce a degree's overall cost.

For additional information about college affordability and how to pay for your degree, we've compiled resources, including information about saving for college at the last minute and how to make your education cheaper.

The Importance of Finding an Accredited Online Program

One of the most important qualities to look for when you're reviewing online degree options is accreditation. A community college or university must undergo an extensive, multi-year evaluation by an independent agency to become accredited. The agency examines the school's programs, faculty, facilities, and student resources, comparing them against recognized standards of excellence before awarding accreditation. The best online colleges have been accredited by one of six authorized regional accrediting boards or by the Distance Education Accrediting Commission.

Choosing an accredited institution is important for several reasons:

OnlineU only lists accredited colleges and universities. We provide details about each school we rank, as shown below.