Most Affordable Online Master’s Degree Programs Ranked for Students

Published: Sep 22, 2022
Updated: Sep 8, 2023

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

Liberty University
Lamar University
Aspen University
Purdue Global
Chadron State College
Post University
Stevenson University
Southeastern Oklahoma State University
American Public University System
Adams State University

Adams State University 100%
Liberty University 99%
Stevenson University 91%
Lamar University 88%
Mount Vernon Nazarene University 87%
University of West Alabama 74%
Southeastern Oklahoma State University 74%
Waldorf University 72%
Kentucky Christian University 58%
Southern Wesleyan University 57%

Columbia Southern University 39 to 1
Purdue Global 28 to 1
Waldorf University 25 to 1
Southeastern Oklahoma State University 24 to 1
Post University 23 to 1
American Public University System 23 to 1
Lamar University 19 to 1
University of Arkansas Grantham 18 to 1
Liberty University 17 to 1
Chadron State College 17 to 1

Stevenson University $38,168
Mount Vernon Nazarene University $32,864
Southern Wesleyan University $26,498
Waldorf University $23,666
Liberty University $22,713
Kentucky Christian University $22,130
Bryan College $17,360
Post University $16,610
Purdue Global $10,080
University of West Alabama $9,100

Southern Wesleyan University $13,560
Mount Vernon Nazarene University $10,674
Bryan College $9,630
Purdue Global $8,730
Stevenson University $8,340
Liberty University $7,847
Athens State University $7,800
Post University $7,500
Adams State University $7,132
University of West Alabama $6,678

University of Arkansas Grantham
Luther Rice College & Seminary
Mount Vernon Nazarene University
Waldorf University
Kentucky Christian University
Athens State University
Southern Wesleyan University
Bryan College
Columbia Southern University
University of West Alabama

Luther Rice College & Seminary 42%
Southern Wesleyan University 57%
Kentucky Christian University 58%
Waldorf University 72%
Southeastern Oklahoma State University 74%
University of West Alabama 74%
Mount Vernon Nazarene University 87%
Lamar University 88%
Stevenson University 91%
Liberty University 99%

Aspen University 8 to 1
Luther Rice College & Seminary 11 to 1
Bryan College 12 to 1
Kentucky Christian University 12 to 1
Adams State University 13 to 1
Southern Wesleyan University 13 to 1
Mount Vernon Nazarene University 14 to 1
University of West Alabama 14 to 1
Stevenson University 15 to 1
Athens State University 15 to 1

Aspen University $5,110
Chadron State College $5,208
Columbia Southern University $5,775
Adams State University $5,976
Lamar University $6,228
Southeastern Oklahoma State University $6,420
Athens State University $6,750
American Public University System $7,360
University of Arkansas Grantham $8,280
Luther Rice College & Seminary $9,088

Columbia Southern University $3,900
Aspen University $3,900
University of Arkansas Grantham $4,200
Chadron State College $4,650
Southeastern Oklahoma State University $4,734
Waldorf University $4,800
Kentucky Christian University $4,950
Luther Rice College & Seminary $5,688
Lamar University $6,471
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.

Table of Contents

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.

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.

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.

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

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