6 reasons why investing in online education is a financially sound decision
It is no secret that the cost of traditional higher education has been on the rise for years, with no end in sight. According to the College Board, tuition and fees at private four-year colleges increased by an average of 3.6% this year, and prices at public four-year universities went up by an average of 5.2%. In light of these increasing costs, more and more people are choosing to invest in online education as a way to get the training they need without breaking the bank. And as it turns out, they are making a wise decision: online education is not only more affordable than traditional higher education, but it is also just as good or better in terms of quality. Here are six reasons why investing in online education is a financially sound decision.
1. Save on tuition and fees
On average, tuition for an online degree program is 30-50% lower than the cost of a traditional degree. This means that you can save hundreds or even thousands of dollars by investing in online education. For example, the tuition for an online MBA program can range from $6,000-$30,000. Compare this to the cost of a traditional MBA, which can range anywhere from $15,000 to more than $100,000. You can learn more at AcademicInfluence.com to see how much money you can save by investing in online education. Additionally, there are often discounts and scholarships available for online students, so be sure to take advantage of these opportunities if you can.
2. No room and board costs
One of the biggest expenses associated with attending college is room and board. However, when you invest in an online degree program, this expense is completely eliminated since there is no need to live on campus or buy a meal plan. This means that you will save hundreds or even thousands of dollars by investing in online education rather than traditional higher education. Additionally, many universities offer generous financial aid packages specifically for online students, which can make your investment even more affordable.
3. Reduced expenses related to transportation
Another major expense associated with attending college is transportation costs, such as gas money and car maintenance. Investing in online education can help you save significantly on these costs since you won’t need to commute to campus every day or pay for parking fees. Additionally, many universities offer free or discounted bus and train passes for online students living in the local area, so be sure to inquire about these programs if you are considering investing in online education.
4. Save on textbooks costs
Textbooks are another major expense associated with attending college, which can cost hundreds of dollars per semester. However, when you invest in an online degree program, this expense is drastically reduced since most textbooks are now available electronically at a fraction of the cost of physical copies. This means that you will save significantly by investing in an online degree program rather than a traditional one.
- E-Learning Platforms: These platforms offer lower tuition rates, as well as discounts on textbooks and other materials. This provides a great opportunity to save money while still enjoying the same quality of instruction. Additionally, e-learning platforms tend to be more interactive than traditional learning experiences and offer a wide range of course material for students to explore.
- Open Educational Resources (OER): OERs are free educational materials sourced from universities, foundations, and other providers that can be used in place of costly textbooks or class fees. For example, many colleges and universities have adopted open-source curricula which allow you to access lectures, readings, quizzes, and other resources at no additional cost. Additionally, there are organizations such as Khan Academy, which provide free online courses for anyone who wishes to learn about a particular subject.
- Other Online Resources: Many reputable websites, such as Coursera, Udemy, and EdX, offer courses for both credit and non-credit that can be used to supplement a degree program or to simply brush up on certain topics. Additionally, many of these sites provide an array of free materials which can be very useful in boosting the knowledge base.
By taking advantage of these online resources, you can save money while still obtaining the same level of education as a traditional degree program. Taking into account the cost savings associated with pursuing an online degree program makes it clear why so many students are opting for this route instead.
5. Reduced time commitment
Attending college on-campus can be a time-consuming experience since you have to work around your class schedule and commute time every day. However, when you invest in an online degree program, this time commitment is drastically reduced since you will be able to take classes from the comfort of your own home whenever it is most convenient for you. This means that you will have more free time to focus on other activities such as working or volunteering, which can help make your investment even more financially sound.
6. Earn your degree quicker
Finally, investing in an online degree program gives you the opportunity to earn your degree at a much faster rate than if you had chosen a traditional degree program. This is because most online courses are designed to be completed in a shorter amount of time than their traditional counterparts, which means that you can finish your degree program quicker and start earning a higher salary sooner. Additionally, many universities offer accelerated degree programs for online students that allow you to complete your studies even faster than normal.
Investing in an online degree program is a great way to pursue higher education without breaking the bank. By taking advantage of the various financial benefits associated with investing in an online degree – such as lower tuition costs and reduced expenses related to transportation and textbooks – you can save hundreds or even thousands of dollars by choosing this route over traditional higher education. Additionally, you will also earn your degree quicker and have more free time to focus on other activities. So if you are considering investing in higher education, be sure to look into the many financial benefits associated with an online degree program.