Most Affordable Online Master’s Programs of 2024
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2024Looking to earn your master’s in a way that’s not only convenient but can save you money? Online master’s degree programs are growing more popular every year, with major increases in online graduate program enrollments.
If you’re considering joining their numbers, read on to learn about some of the best and most affordable online master’s programs.
Featured Online Master’s Programs
Learn about start dates, transferring credits, availability of financial aid, and more by contacting the universities below.
Cheapest Online Master’s Programs of 2024
The University of Texas Rio Grande Valley
Edinburg, TX- 4 year
- Campus + Online
- In-State$7,857
- Out-of-state$17,649
- In-State$7,002
- Out-of-state$14,346
- Retention Rate72%
- Acceptance Rate94%
- Students Enrolled31,940
- Institution TypePublic
- Percent Online Enrollment78%
- AccreditationYes
California State University-Dominguez Hills
- Carson, CA
- 4 year
- Campus + Online
- In-State$5,742
- Out-of-state$17,622
- In-State$7,176
- Out-of-state$16,680
- Retention Rate70%
- Acceptance Rate90%
- Students Enrolled17,837
- Institution TypePublic
- Percent Online Enrollment94%
- AccreditationYes
Stanford University
- Stanford, CA
- 4 year
- Campus + Online
- In-State$55,473
- Out-of-state$55,473
- In-State$54,315
- Out-of-state$54,315
- Retention Rate98%
- Acceptance Rate4%
- Students Enrolled17,680
- Institution TypePrivate
- Percent Online Enrollment5%
- AccreditationYes
- In-State$58,085
- Out-of-state$58,085
- In-State$57,900
- Out-of-state$57,900
- Retention Rate98%
- Acceptance Rate6%
- Students Enrolled17,620
- Institution TypePrivate
- Percent Online Enrollment24%
- AccreditationYes
University of Florida
- Gainesville, FL
- 4 year
- Campus + Online
- In-State$4,477
- Out-of-state$25,694
- In-State$10,770
- Out-of-state$27,335
- Retention Rate97%
- Acceptance Rate30%
- Students Enrolled55,781
- Institution TypePublic
- Percent Online Enrollment57%
- AccreditationYes
University of North Florida
- Jacksonville, FL
- 4 year
- Campus + Online
- In-State$3,996
- Out-of-state$16,799
- In-State$8,570
- Out-of-state$19,585
- Retention Rate79%
- Acceptance Rate77%
- Students Enrolled16,594
- Institution TypePublic
- Percent Online Enrollment77%
- AccreditationYes
Texas A&M International University
- Laredo, TX
- 4 year
- Campus + Online
- In-State$3,818
- Out-of-state$13,610
- In-State$3,350
- Out-of-state$10,694
- Retention Rate74%
- Acceptance Rate54%
- Students Enrolled8,455
- Institution TypePublic
- Percent Online Enrollment62%
- AccreditationYes
Johns Hopkins University
- Baltimore, MD
- 4 year
- Campus + Online
- In-State$58,720
- Out-of-state$58,720
- In-State$58,720
- Out-of-state$58,720
- Retention Rate96%
- Acceptance Rate8%
- Students Enrolled32,049
- Institution TypePrivate
- Percent Online Enrollment80%
- AccreditationYes
Georgetown University
- Washington, DC
- 4 year
- Campus + Online
- In-State$59,784
- Out-of-state$59,784
- In-State$54,672
- Out-of-state$54,672
- Retention Rate98%
- Acceptance Rate12%
- Students Enrolled20,935
- Institution TypePrivate
- Percent Online Enrollment38%
- AccreditationYes
San Diego State University
- San Diego, CA
- 4 year
- Campus + Online
- In-State$5,742
- Out-of-state$17,622
- In-State$7,176
- Out-of-state$16,680
- Retention Rate90%
- Acceptance Rate38%
- Students Enrolled36,484
- Institution TypePublic
- Percent Online Enrollment64%
- AccreditationYes
Finding an Online Master’s Degree That’s Right for You
As you begin your online master’s journey, there are a few different things to consider when deciding if a program is right for you. Here are some key factors to bear in mind:
Accreditation
Online college accreditation provides students, employers, and schools with quality assurance. The Council for Higher Education Accreditation recognizes various organizations that accredit the colleges and universities that meet or exceed the highest educational standards in their area.
Employment, federal financial aid, licensure, and your ability to transfer credits all depend on regional accreditation. Similarly, programmatic accreditation may be required for licensure in certain fields while being preferred or recommended in others.
Types of Online Master’s Degree Programs
Online learning continues to change the look of colleges and universities, and you can enjoy an array of affordable online master’s programs to choose from. The following lists highlight some of the options available, and the corresponding pages offer program details, guides, and rankings.
What Is the Cost of an Online Master’s Degree?
It’s no secret that even the most affordable graduate programs can come with a high price tag. According to the National Center for Education Statistics, the average annual graduate student tuition and fees for an in-state program totaled $11,554 in 2022-23. And that’s before considering living expenses and relocation costs.
Online master’s programs can save you money on living expenses and transportation costs, but make sure you have a plan in place for how you’re going to fund your online graduate education.
Funding Your Online Master’s Program
Even students pursuing the most affordable online master’s degrees need assistance to fund their education. The following list explores some of the major types of financial aid, the differences between them, and eligibility requirements.
- Loans:College loans may come from federal financial aid packages or banking institutions. If you demonstrate financial need or strong financial responsibility, you may qualify. Loans typically feature minimal or no interest rates.
- Scholarships & Grants:Scholarships and grants recognize students with financial need and academic excellence. You do not need to repay these financial rewards, and they can be renewable.
- Fellowships:Fellowship programs offer graduate students a stipend in return for work or research. Fellowships provide high-achieving learners with professional development, funding, and possible career opportunities.
- Work-Study:Federal work-study jobs offer funding in return for part-time work on or nearby the campus. Most positions allow you to work around your study schedules. These assignments typically go to learners who demonstrate financial need.
How Affordable Is an Online Master’s Degree?
An online master’s degree program can be an affordable grad school option, especially compared to an in-person degree. As an online master’s student, you’ll be spared the hidden costs of relocating to campus. Plus, the flexible nature of online classes makes it easier to keep a job while you study.
As you’re considering the cost of your online graduate degree, you should also ask yourself if you plan to study full or part time and what kind of master’s you want (MS, MA, MBA, etc.), as these factors can impact costs.
Is Getting an Online Master’s Degree Worth It?
You need to determine the value of an affordable online master’s degree for yourself, but several factors can help you figure that out. Graduate degrees can lead to more lucrative jobs, along with better advancement opportunities.
When weighing the pros and cons of online and on-campus programs —or simply deciding if you should pursue a master’s degree at all — you should consider factors like time, cost, and ROI.
Most affordable online master’s degrees take students between 1-2 years to complete. However, many online programs offer accelerated, asynchronous, or part-time scheduling options, which can make them more accessible for some learners.
According to the Bureau of Labor Statistics (BLS), the average master’s degree holder in 2023 made over $240 more per week compared to someone with only a bachelor’s. Depending on your field, the “master’s increase” can be even higher.
Which Master’s Degrees Are Most In Demand?
Looking for a master’s degree that will have employers excited to hire you? Check out these highly in-demand fields to consider:
Nurse Practitioner
Nurse practitioners provide primary, advanced, and specialized patient care. A master’s degree in this discipline covers assessments, diagnostics, and treatment plans and may focus on specific demographics. The incredible demand for professionals results from an aging population and the increasing scope of practice for nurse practitioners in an array of healthcare settings.
Median Annual Salary
$126,260
Job Growth
38% increase from 2022-2032
Information Security Analyst
Information security analysts help organizations protect their data and computer systems from a growing number of cyber threats. Master’s degrees in cybersecurity delve into advanced threat analysis, prevention, and protection software design. As cyberattacks continue to increase in frequency and intelligence, the demand for information security analysts will also increase.
Median Annual Salary
$120,360
Job Growth
32% increase from 2022-2032
Mathematician and Statistician
These professionals use their mathematical and statistical analysis expertise to support and solve problems for various organizations and industries. At the graduate level, mathematics programs may focus on different types of modeling, analyses, and research groups, such as financial and discrete mathematics.
Median Annual Salary
$116,440-$134,950
Job Growth
30% increase from 2022-2032
Physician Assistant
Physician assistants support healthcare teams by providing patient examinations and completing minor procedures. Master’s programs in this discipline feature advanced research and medicine training in various departments and specialties, plus extensive clinical rotations.
Median Annual Salary
$130,020
Job Growth
27% increase from 2022-2032
Speech-Language Pathologist
Speech-language pathologists help people manage, overcome, and prevent various communication disorders. In speech-language pathology master’s programs, students engage in advanced research in speech science and clinical applications of developmental and acquired language disorders. The increased demand results from increasing health conditions that lead to communication issues and better detection and treatment methods.
Median Annual Salary
$89,290
Job Growth
19% increase from 2022-2032
Frequently Asked Questions About Cheap Online Master’s Programs
Generally speaking, an online master’s degree from a state school where you qualify for in-state tuition will be one of your most affordable options. However, many schools offer tuition reductions for groups like veterans, scholarship opportunities, and more. This means that the most affordable option for you will depend on your personal circumstances.
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