How Much Does Online College Cost?
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As you embark on your educational journey, one of the most important factors to consider is the cost. While online college can be more affordable than traditional in-person education, the cost can vary widely depending on factors such as the institution, program, and resources required.
You may have already decided that online learning is the right path for you due to its flexibility, convenience, and the ability to learn from anywhere. But you may also be wondering: How much does online college cost?
We’ll break down the cost considerations for online college, compare tuition to traditional college costs, and provide you with tips for covering those costs.
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Understanding the Cost of Online College
When considering the cost of online college, it’s important to understand the different components that make up the total cost. These include tuition fees, technology fees, and the cost of books and materials.
Tuition Fees
Tuition is often the most significant expense when it comes to online college.
The tuition fees for online colleges vary significantly, ranging from about $120 to $800 per credit hour, depending on the institution and program. For instance, the University of Florida charges $129 per credit hour for online tuition for in-state students. Meanwhile, Purdue Global charges $371 per credit hour.
Usually, you’ll have to take at least 12 credits each term to be considered a full-time student. This means that, if you’re paying $129 per credit as a full-time student, you’ll pay at least $3,096 a year in tuition. Taking classes part-time can mean paying less money in tuition per term.
The average net cost of online college for full-time, first-year undergraduate students was about $17,140 in 2021-2022, according to the National Center for Education Statistics (NCES). However, this figure only includes institutions that exclusively offer online degrees.
Generally, the cost of tuition at online programs can be similar to on-campus programs. Factors influencing the cost include whether the institution is public or private, with public schools generally being less expensive than private schools. Other factors include your residency status.
| Institution Type | Tuition and Required Fees |
|---|---|
| Public Four-Year (In-State) | $9,750 |
| Public Four-Year (Out-of-State) | $28,297 |
| Private Four-Year | $35,248 |
| Public Two-Year (In-State) | $3,598 |
| Public Two-Year (Out-of-State) | $8,565 |
Technology Fees
Another cost to consider when attending online college is technology fees. These fees often cover essential services such as virtual classroom platforms, online research databases, and technical support.
Some institutions may also charge distance learning fees or other miscellaneous fees related to online education infrastructure.
Books and Materials
While students can save by renting textbooks or purchasing digital versions, the cost of books and materials can add up quickly. First-year college students typically spend over $1,200 on books and supplies.
To reduce these costs, students can buy used books, rent books, or purchase online editions, which are usually cheaper. Other strategies include applying for book scholarships, utilizing tax credits, borrowing books from libraries, and selling books back after use.
How to Pay for Online College
Even though online college can be less expensive than traditional college, it’s still a significant investment. Fortunately, there are several financial aid options available to help offset these costs.
These options include federal financial aid, state aid programs, employer assistance programs, private scholarships, work-study programs, and student loans. It’s essential to explore all these options and apply as early as possible to increase your chances of receiving financial aid.
You can also reduce the cost of online college by attending a public university, transferring credits from a community college, and utilizing credit for experience opportunities.
Frequently Asked Questions About the Cost of Online College
Online college can indeed be worth the cost when considering long-term career benefits and potential earnings. The flexibility of online degrees allows students to balance their studies with full-time jobs, family responsibilities, and other commitments, which can be financially beneficial.
Although tuition for online degrees may sometimes be comparable or higher than traditional programs, online programs can also help you save money on room, board, and commuting costs. The key is to choose accredited programs that align with your career goals and to consider the quality and reputation of the online institution.
Note: The insights on this page were reviewed by an independent third party compensated for their time by BestColleges. Page last reviewed July 22, 2024.
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