In the past decade, the cost of higher education has risen drastically. The Atlantic reports an increase at the undergraduate level of 31% at private schools and 42% at public institutions, according to federal government figures. U.S. News & World Report data supports these facts, indicating that “in-state tuition prices among public National Universities grew by 63% over a 12-year period from 2008 to 2020.” The Atlantic further reports that students are borrowing an average of 70% percent more to complete their education.
Many prospective students see online classes and degree programs as opportunities to avoid the greater expenses incurred by attending brick-and-mortar institutions. CNBC notes, individuals “are very attracted to online learning as being a very flexible, student centered, adult-friendly way to pursue their degrees.”
How Online Programs Save You Money
“A recent analysis of a public Florida college showed a student would save over $20,000 earning their degree online at the same school,” according to CNBC, and similar findings are true in many geographical regions, especially for those attending schools out of state. According to College Tuition Compare, for out-of-state learners, the cost savings are significant. For Northern Kentucky University (NKU), there is a savings of 50% for out-of-state students enrolled in online courses, compared to those earning degrees on campus.
Besides lower tuition rates for online courses, what are some of the other reasons online programs save you money?
- There is no need to factor in expenses for commuting or moving out of your current area.
- Online programs are also often accelerated, meaning less time is needed to finish the degree. The sooner you graduate, the sooner you will be eligible for jobs with potentially higher paying salaries.
- “Time is money and the time you spend transporting, parking, walking, waiting between classes while sequestered on campus can cost you opportunity,” according to MoneyMiniBlog.
- Online programs are convenient and flexible, allowing you to continue working while you build and maintain financial stability.
The Affordable Choice
NKU’s 100% online programs for education specialists are designed for individuals who place a high value on their time and money, and who have personal and professional obligations that make accessibility and flexibility particularly appealing. These accelerated programs have competitive costs. Students can reduce the amount lost on commuting and possible relocation, and these programs are just as economical to out-of-state residents. Without the overhead associated with brick-and-mortar educational models, schools can offer competitive price points for tuition, reducing the amount of debt incurred while pursuing your next career goal.
Learn more about Northern Kentucky University’s online Education Specialist programs.
Sources:
U.S. News & World Report: What You Need to Know About College Tuition Costs
The Atlantic: How Online Education Saves Everyone Money
CNBC: Online Degrees Save Money and Boost Careers
College Tuition Compare: 2020 Tuition Comparison Between Colleges in Kentucky
MoneyMiniBlog: 5 Ways You Save Money by Getting an Online Graduate Degree
