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.
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.
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.
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.
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.
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.
Tuition + fees
$6K
Graduation
33%
Student body
14K
Tuition + fees
$5K
Student body
6K
Tuition + fees
$8K
Graduation
28%
Student body
5K
Tuition + fees
$24K
Acceptance
72%
Graduation
31%
Student body
2K
Median SAT/ACT
1015/19
Tuition + fees
$22K
Acceptance
58%
Graduation
36%
Student body
<1K
Median SAT/ACT
841/18
Tuition + fees
$7K
Graduation
39%
Student body
2K
Tuition + fees
$7K
Graduation
49%
Student body
37K
Tuition + fees
$7K
Acceptance
74%
Graduation
30%
Student body
5K
Median SAT/ACT
985/20
Tuition + fees
$11K
Acceptance
74%
Graduation
39%
Student body
5K
Tuition + fees
$38K
Acceptance
91%
Graduation
59%
Student body
3K
Tuition + fees
$9K
Acceptance
42%
Student body
<1K
Tuition + fees
$10K
Acceptance
100%
Graduation
29%
Student body
3K
Median SAT/ACT
990/19
Tuition + fees
$10K
Graduation
29%
Student body
49K
Tuition + fees
$17K
Graduation
20%
Student body
12K
Tuition + fees
$33K
Acceptance
87%
Graduation
59%
Student body
2K
Median SAT/ACT
1115/22
Tuition + fees
$17K
Graduation
58%
Student body
1K
Tuition + fees
$23K
Acceptance
99%
Graduation
62%
Student body
79K
Median SAT/ACT
1145/25
Tuition + fees
$9K
Acceptance
88%
Graduation
39%
Student body
14K
Median SAT/ACT
1041/20
Tuition + fees
$26K
Acceptance
57%
Graduation
52%
Student body
1K
Median SAT/ACT
1075/21
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.
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.
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