Most Affordable Online Master’s Degree Programs Ranked for Students

Badge for CHEAPEST ONLINE MASTER'S PROGRAMS
By Dave Tomar
Published:
Updated:

The online master’s degree program is an increasingly popular option for students and working adults in search of an affordable pathway to an advanced degree.

Top 10 Most Affordable Online Master's Degrees

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  1. Columbia Southern University
  2. Aspen University
  3. University of Arkansas Grantham
  4. Waldorf University
  5. Kentucky Christian University
  6. Chadron State College
  7. American Public University System
  8. Athens State University
  9. Southeastern Oklahoma State University
  10. University of West Alabama
  1. Liberty University
  2. Lamar University
  3. Aspen University
  4. Purdue Global
  5. Stevenson University
  6. Chadron State College
  7. Southeastern Oklahoma State University
  8. American Public University System
  9. Post University
  10. Adams State University
  1. Liberty University 99%
  2. Adams State University 99%
  3. Mount Vernon Nazarene University 85%
  4. Stevenson University 84%
  5. Lamar University 84%
  6. Southeastern Oklahoma State University 74%
  7. Waldorf University 74%
  8. University of West Alabama 69%
  9. Luther Rice College & Seminary 68%
  10. Southern Wesleyan University 51%
  1. University of Arkansas Grantham 33 to 1
  2. Columbia Southern University 28 to 1
  3. Purdue Global 26 to 1
  4. American Public University System 24 to 1
  5. Waldorf University 24 to 1
  6. Southeastern Oklahoma State University 22 to 1
  7. Lamar University 20 to 1
  8. Liberty University 18 to 1
  9. University of West Alabama 18 to 1
  10. Post University 16 to 1
  1. Stevenson University $38,738
  2. Mount Vernon Nazarene University $34,168
  3. Southern Wesleyan University $27,820
  4. Waldorf University $24,526
  5. Kentucky Christian University $23,700
  6. Liberty University $22,511
  7. Bryan College $17,900
  8. Post University $16,610
  9. Purdue Global $10,080
  10. Luther Rice College & Seminary $9,808
  1. Southern Wesleyan University $11,952
  2. Mount Vernon Nazarene University $10,674
  3. Bryan College $10,026
  4. Purdue Global $9,472
  5. Athens State University $8,352
  6. Stevenson University $8,340
  7. Liberty University $7,893
  8. Adams State University $7,704
  9. Post University $7,118
  10. University of West Alabama $6,678
  1. Southern Wesleyan University
  2. Lamar University
  3. Liberty University
  4. Bryan College
  5. Mount Vernon Nazarene University
  6. Post University
  7. Purdue Global
  8. Adams State University
  9. Luther Rice College & Seminary
  10. Stevenson University
  1. University of Arkansas Grantham
  2. Luther Rice College & Seminary
  3. Mount Vernon Nazarene University
  4. Waldorf University
  5. Kentucky Christian University
  6. Athens State University
  7. Southern Wesleyan University
  8. Columbia Southern University
  9. University of West Alabama
  10. Bryan College
  1. Kentucky Christian University 44%
  2. Southern Wesleyan University 51%
  3. Luther Rice College & Seminary 68%
  4. University of West Alabama 69%
  5. Waldorf University 74%
  6. Southeastern Oklahoma State University 74%
  7. Lamar University 84%
  8. Stevenson University 84%
  9. Mount Vernon Nazarene University 85%
  10. Adams State University 99%
  1. Aspen University 5 to 1
  2. Luther Rice College & Seminary 10 to 1
  3. Mount Vernon Nazarene University 11 to 1
  4. Southern Wesleyan University 12 to 1
  5. Adams State University 13 to 1
  6. Bryan College 13 to 1
  7. Kentucky Christian University 13 to 1
  8. Athens State University 14 to 1
  9. Stevenson University 15 to 1
  10. Post University 16 to 1
  1. Aspen University $5,355
  2. Columbia Southern University $6,015
  3. Adams State University $6,072
  4. Lamar University $6,228
  5. Southeastern Oklahoma State University $6,420
  6. Athens State University $7,230
  7. American Public University System $7,360
  8. Chadron State College $7,834
  9. University of Arkansas Grantham $8,280
  10. University of West Alabama $9,100
  1. Aspen University $3,900
  2. Columbia Southern University $4,020
  3. University of Arkansas Grantham $4,200
  4. Chadron State College $4,650
  5. Southeastern Oklahoma State University $4,734
  6. Kentucky Christian University $4,950
  7. Waldorf University $5,040
  8. Luther Rice College & Seminary $5,976
  9. Lamar University $6,471
  10. American Public University System $6,660

Key Takeaways

  • The online master’s degree is a cost-effective way to earn an advanced degree from a university in your state. A growing number of public colleges and universities now offer fully online master’s degree programs in a wide range of subjects including business administration, computer science, early childhood education, and much more.

  • The online master’s degree program is an especially valuable option for working professionals who are interested in advancing in the careers without disrupting everyday work responsibilities. Online graduate students have the power earn and learn at the same time.

  • Graduate students who pursue their master’s degree online may be required to visit campus to complete some requirements. This is a good reason to choose an affordable master’s degree program close to home.

Featured Programs

The length of time it takes to complete your online master’s degree will vary depending on your subject and concentration, but in most cases, it will take two to three years to earn an online master’s degree. Online graduate programs offer a great way to save money on expenses like housing, transportation, and certain campus fees.

An Overview of the Master’s Degree

Can you earn a master’s degree online?

You can absolutely earn a master’s degree online. In fact, a growing number of highly regarded and fully accredited graduate schools are offering online learning opportunities. As demand increases among working adults for online master’s degree programs that are both flexible and affordable, graduate schools are making strides in serving the needs of online students.

Is an online master’s degree more affordable?

The online master’s degree program can be more affordable. The cost of tuition for online graduate programs is roughly equal to the cost of a traditional master’s degree program. However, you will save money on additional expenses like housing, transportation and certain campus fees.

Equally as important, the online master’s degree program makes it possible for you to complete your grad school education at your own pace. This means you can continue working while completing your online master’s program. The ability to earn a living while completing your advanced degree program can significantly reduce your dependency on federal financial aid, private student loans, and other sources of student debt.

Did you know that there on online master’s degree programs and numerous online master’s courses that you can take for free?

Is an online master’s degree respected?

The online master’s degree is highly respected as long as it is conferred by a graduate school with accreditation from the colleges and schools commission in your region. Many of the top graduate institutions offer fully online master’s degree programs that are nearly identical to traditional programs in content, curriculum, and credit requirements. In fact, in many schools, online and in-person courses will be taught by the same instructors. In other words, as long as you choose an excellent institution with regional accreditation, employers and colleagues will view your online master’s degree with respect.

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How We Rank the Most Affordable Online Master’s Degree Programs

In most cases, the most affordable online master’s programs will be those offered by universities in your state. Online grad students who attend public universities enjoy access to in-state tuition rates just like traditional on-campus students.

That’s why we’ve ranked these online master’s programs by placing the highest weight on in-state tuition rates. The tuition price listed below may not reflect the lower rate extended to in-state residents. Click on each school to learn more about in state tuition discounts. Other factors included in our ranking are Influence–the measure of a school’s excellence based on the real-world impact of its professors, students, and alumni; and the percentage of full-time students enrolled in online degree programs at each institution.

Below is a mix of both public and private universities offering the most affordable online master’s degree programs on the higher education landscape.

Looking for a specific affordable master’s degree program? Check out our look at cheap degrees in our Affordable Degree Programs.

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Most Affordable Online Master’s Degrees for In-State Students

  4. #4

    Waldorf University

    Forest City , IA
    #4 Best Online Bachelor's in Cybersecurity in Iowa #19 Best Online Colleges in Iowa 2024

    Tuition + fees

    $25K

    Acceptance

    74%

    Graduation

    26%

    Student body

    4K

    Career Outlook for degree at Waldorf University

    Cost of Degree: $5,075
    Expenses: $13,650
    Starting Salary: $42,400
    Cost Recoup Time: 6 years
    Paid back at 15% of annual salary
    Compare school
  5. #5

    Kentucky Christian University

    Grayson , KY
    #14 Best Online Bachelor’s of Counseling Degree Programs for 2024 #18 Best Online Bachelor's in Social Work Degree Programs Ranked for 2024

    Tuition + fees

    $24K

    Acceptance

    44%

    Graduation

    31%

    Student body

    <1K

    Median SAT/ACT

    870/18

    Career Outlook for degree at Kentucky Christian University

    Cost of Degree: $5,200
    Expenses: $15,496
    Starting Salary: $36,500
    Cost Recoup Time: 7 years
    Paid back at 15% of annual salary
    Compare school
  14. #12

    Luther Rice College & Seminary

    Lithonia , GA
    #10 Best Online Bachelor’s in Biblical Studies #12 Best Online Master's in Theology #13 Best Online Colleges in Georgia 2024 #22 Best Online Master’s in Biblical Studies

    Tuition + fees

    $10K

    Acceptance

    68%

    Student body

    <1K

    Career Outlook for degree at Luther Rice College & Seminary

    Cost of Degree: $6,996
    Starting Salary: $45,400
    Compare school
  15. #13

    Adams State University

    Alamosa , CO
    #5 Best Small Colleges in Colorado 2024 #9 Best Grad Schools in Colorado 2024 #10 Best Liberal Arts Colleges in Colorado 2024 #6 Top 16 Most Affordable Online Counseling PhDs (Doctorates)
    Other Rankings

    Tuition + fees

    $10K

    Acceptance

    99%

    Graduation

    28%

    Student body

    4K

    Median SAT/ACT

    1020/20

    Career Outlook for degree at Adams State University

    Cost of Degree: $10,425
    Expenses: $14,206
    Starting Salary: $38,100
    Cost Recoup Time: 7 years
    Paid back at 15% of annual salary
    Compare school
  16. #14

    Purdue Global

    West Lafayette , IN
    #10 Online Colleges with the Most Generous Financial Aid in 2024 #12 Most Affordable Online Colleges Ranked for Students 2024 #5 Best Public Colleges in Indiana 2024 #5 Most Affordable Colleges in Indiana 2024
    Other Rankings

    Tuition + fees

    $10K

    Graduation

    20%

    Student body

    66K

    Compare school
  17. #15

    Post University

    Waterbury , CT
    #18 Most Affordable Online Colleges Ranked for Students 2024 #4 Most Affordable Colleges in Connecticut 2024 #8 Best Liberal Arts Colleges in Connecticut 2024 #1 Best Online Bachelor's in Cybersecurity in Connecticut
    Other Rankings

    Tuition + fees

    $17K

    Graduation

    32%

    Student body

    32K

    Career Outlook for degree at Post University

    Cost of Degree: $7,318
    Expenses: $17,050
    Starting Salary: $46,500
    Cost Recoup Time: 6 years
    Paid back at 15% of annual salary
    Compare school
  21. #18

    Liberty University

    Lynchburg , VA
    #4 Top 20 Best Military Friendly Online Colleges Ranked for 2024 #6 15 Best Self-paced Online Colleges Ranked for 2024 #8 Top 15 Best Online Colleges for Transfer Students in 2024 #13 Best Online Christian Colleges and Universities for Doctoral Degrees
    Other Rankings

    Tuition + fees

    $23K

    Acceptance

    99%

    Graduation

    66%

    Student body

    131K

    Career Outlook for degree at Liberty University

    Cost of Degree: $8,405
    Expenses: $19,987
    Starting Salary: $41,400
    Cost Recoup Time: 8 years
    Paid back at 15% of annual salary
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More on the Cost of Grad School

How much does grad school cost on average?

The average cost of grad school is somewhere between $30,000 and $40,000 per year for both private and public grad schools. However, you can pay as much as $100,000 per year to attend some of the nation’s most prestigious private grad schools. The most affordable online master’s programs may cost as little as $5,000 to $12,000 per year for in-state students.

How can I cut my grad school costs?

Financial aid, scholarships, and geographical considerations all offer ways to offset the sticker price of your online master’s degree program. Financial aid and scholarships are both central considerations as you look for ways to cut your grad school costs. Finding a grad school in state can also offer various opportunities for state-specific financial aid and tuition discounts.

Why attend an online grad school close to home?

Earning your advanced degree from a public college or university in your state will be your most affordable option. State schools typically offer deep tuition discounts for in state students, whether you take online courses or earn your advanced degree on campus. You may also be able to offset some expenses by earning your graduate degree online. While tuition for online grad school is generally in line with tuition for the traditional grad school experience, you may be able to save on housing, transportation, and certain campus fees.

For more tips on getting an affordable online education, check out our Guide to Financial Aid in Higher Education

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