For nearly a decade, Doug Wintemute has specialized in helping students and professionals make sound education and career decisions. In addition to Forbes Advisor, his work has been featured on many online publications, including ZDNet, Bankrate and NurseJournal.
Doug Wintemute
For nearly a decade, Doug Wintemute has specialized in helping students and professionals make sound education and career decisions. In addition to Forbes Advisor, his work has been featured on many online publications, including ZDNet, Bankrate and NurseJournal.
Brenna Swanston is an education-focused editor and writer with a particular interest in education equity and alternative educational paths. As a newswriter in her early career, Brenna's education reporting earned national awards and state-level accolades in California and North Carolina. Since 2018, she has worked in the higher-education web content space, where she aims to help current and prospective students of all backgrounds find effective, accessible pathways to rewarding careers.
Reviewed
Brenna Swanston
Brenna Swanston is an education-focused editor and writer with a particular interest in education equity and alternative educational paths. As a newswriter in her early career, Brenna's education reporting earned national awards and state-level accolades in California and North Carolina. Since 2018, she has worked in the higher-education web content space, where she aims to help current and prospective students of all backgrounds find effective, accessible pathways to rewarding careers.
Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations.
A master’s degree can help you grow your career prospects, responsibilities and earnings. Depending on your field, a master’s degree may be required for leadership roles or state licensure, or it could prepare you for a doctorate.
While these degrees may come with significant rewards, they also require a significant investment of your time and money. Online programs may make this commitment a little less burdensome, however, with flexible scheduling and lower travel times and costs.
We’ve ranked the 10 best affordable online master’s programs. Our strict methodology ensures you’ll save money without sacrificing educational quality. Read on to learn more.
Our Methodology
Read more
Best Affordable Online Master’s Programs
Should You Enroll in a Cheap Master’s Degree Online?
Making a decision based entirely on price and choosing the cheapest online master’s degree may not give you the results you want. Online programs can reduce the price of your education by cutting down travel costs and student fees. In some cases, these programs offer discounted or in-state tuition rates to students who would otherwise pay higher out-of-state prices.
Online learning provides more flexibility, often featuring asynchronous coursework or evening and weekend classes. Distance education creates more opportunities to study at out-of-state schools, increasing your odds of finding a program that suits your unique needs.
However, you may find that remote learning doesn’t suit you. These programs demand more self-discipline and autonomy. They also typically provide less guidance and structure than in-person and hybrid programs.
While you would be wise to consider affordable online master’s programs, you shouldn’t base your entire decision on price. Instead, think about your strengths and needs, then find a program that caters to those factors at a comfortable price.
Accreditation for Affordable Online Graduate Schools
No matter what school or program you choose, your search should start with institutional accreditation. To receive accreditation, schools must meet high standards for their mission, conduct, programs, faculty and student services. Accrediting organizations must be approved by the Council for Higher Education Accreditation (CHEA) or the United States Department of Education.
If you choose a school without accreditation, you could forfeit access to federal financial aid and transfer credits. Future employers and licensing organizations might not recognize your education, either.
Programmatic accreditation works similarly but on a program-by-program basis. Some fields and professions require accreditation, while others do not. Before you settle on a school or program, know your field’s accreditation requirements and check your pick’s accreditation status on CHEA’s directories.
How To Find the Right Cheap Online Master’s Degree for You
Consider Your Future Goals
The right program should align with your aspirations and point you in the right direction. Think about your career interests and find a program with a specialization in that field. You might also look at the faculty to see if your prospective school and program have any specialists in your area of interest.
If you aim to enter the workforce directly after graduation, prioritize practical programs with experiential learning opportunities or internships. If you have a doctorate in mind, consider programs with heavier research components or thesis requirements.
Understand Your Expenses and Financing Options
While you may be tempted to prioritize the cheapest online master’s degree, tuition prices don’t always tell the whole story. Schools offer varying sizes of financial aid packages, including federal aid, private loans, and institutional and third-party scholarships.
In general, tuition prices vary considerably among programs and schools. The per-credit tuition prices for the schools on this list range from around $300 to approximately $2,800. For a typical 15-credit academic year, tuition ranges from about $5,000 to $37,500.
According to the National Center for Education Statistics, grad students at private colleges paid an average annual tuition rate of $20,015. At public schools, students paid an average of $11,554. While some programs on our list exceed those prices, the vast majority come in well below that number.
Frequently Asked Questions (FAQs) About the Cheapest Online Master’s Degrees
Is it cheaper to get a master’s online?
Depending on your program and circumstances, it may be more affordable to get a master’s degree online. Not only do online programs reduce your travel costs, but they might allow you to maintain employment while you study. If you plan to study at an out-of-state school, you could qualify for lower online tuition rates than on-campus out-of-state learners.
Are online master’s degrees recognized?
Yes. Most online master’s programs provide the same education and same credentials as on-campus programs. Typically, online degrees don’t specify where or how you completed your program.
