How Much Does an Online College Education Cost?
Earning your college degree online can cost anywhere between $190 a credit to $46,215 or more for a 4-year bachelor's degree. Online education costs vary due to the type of college chosen or the courses enrolled in. Read below for specifics on cost breakdowns and trends in getting a college education online.
What is the Tuition for Online Education?
Online education offers a great way to brush up on your skills through single courses, associate's, bachelor's or master's degree programs. The cost of getting a college education online varies depending on the type of degree you are looking for and the type of school you choose to attend.
An online, 60-credit bachelor's degree program at a for-profit school, for example, may cost around $26,400. A 40-credit master's degree program at the same school may only cost $19,000. A public institution that offers education online will have tuition variances between in-state and out-of-state residents. An in-state resident may pay $23,659 for a 124-hour online bachelor's degree program, whereas an out-of-state resident may pay $46,215 for the exact same program.
How is the Cost for Online College Education Determined?
If you want to pursue your education online, you will most likely be charged per credit or credit hour. Prices per credit hour may range from $190 to $475 and will depend on if the course is a lower-division or upper-division class. Graduate courses tend to cost more than their undergraduate counterparts. Online education cost may also be subject to application fees, courses and materials fees, and other student service fees, depending on the online school or program.
Trends in Online Education
In July 2009, the Hartford Courant released a story that cited enrollment for classes taken online increased during 2006-2007 by 12% across the nation, doubling the number of students that had been completing online classes in 2002. Additionally, in a 2008 Sloan Consortium survey, it was concluded that online education is currently outpacing the growth rate of the traditional classrooms. The Sloan Consortium went on to state that factors such as higher costs in traditional college courses and the economic state contributed to the increase in getting a college education online.