5 Ways Online Degrees Are Financially More Feasible

5 Ways Online Degrees Are Financially More Feasible
  • Opening Intro -

    Attend class in your pajamas. Take a quiz any time of day. Learn at your own pace.

    These are just a few of the commonly touted benefits of an online education.

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While these advantages are certainly appealing, they neglect what is arguably the most compelling reason to get an online degree–saving money. Online degrees are a much more viable alternative financially to traditional degrees for the following five reasons.

1. No Need to Quit Your Day Job

The class times for traditional degrees almost always conflict with regular business hours, which precludes most students from working full time and possibly even part time. Even so-called "night classes" usually begin around 7 PM, which hardly leaves enough time for a working parent, for example, to get home, feed the kids, and get to class. With an online education, your coursework doesn’t have to interfere with your work schedule, which means you can continue to pay your bills while earning a degree.

2. No Costly Commuting

With online degrees, the length of your commute to class is equivalent to the time it takes to boot up your computer. Assuming a commute time of about 25 minutes (the American average) at an average speed of 35 mph at current gas prices, a traditional student will squander about $75 per month commuting to class 20 days a month with an average vehicle. And that figure doesn’t include the cost of parking on campus, which can range from $500-$1,000 annually at larger schools.

3. Eliminate Small Expenses

Although the tuition of most online education programs is comparable to that of traditional coursework, online students end up saving on small expenses that can quickly add up. For example, many online students don’t have to pay the pricy recreation fees that traditional students do. These fees can get as high as hundreds of dollars per school year. Additionally, those taking science courses won’t have to worry about lab fees, and there’s no need to pay to print assignments, as they’re all turned in digitally. All told, online students spend about 40 percent less on their education than traditional students.

4. Save on Living Expenses

Real estate in college towns is notoriously scarce and absurdly inflated in value, which makes living near campus a difficult and pricey proposition. When you take online courses, however, you are in no way geographically tethered to the school you choose. You can pick any school you wish and choose a place to live based on affordability rather than necessity.

5. Reduced Textbook Costs

Many online classes post all the requisite reading material electronically, so there’s no need to purchase a physical textbook. Considering that traditional students shell out $1,200 per year for books on average, that translates to considerable savings. Of course, there’s the added benefit of not having to lug around dozens of pounds of texts with you.

The bottom line is that online degrees are not just the more convenient option; they’re also more affordable. Sparing yourself expenses like commuting, campus housing, and fees can mean thousands more dollars in your pocket at graduation in addition to a valuable education.

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Categories: Online Education