As the demand for online education continues to rise, many students face the daunting challenge of finding an affordable and reputable online university.
If you’re among those who are concerned about the financial aspect of pursuing higher education, you’re not alone.
Survey after survey shows that students looking for an online school list affordability as their number one factor in choosing an online school. It’s important to note that cost should not be the sole determining factor in your decision-making process.
Second-only to affordability is the reputation of the online university or online degree program. The reputation of the online university or degree program you choose is also crucial, as it can greatly impact your future career prospects.
If you’re worried about being able to pay for an online college education, you’re not alone.
Online education has significantly transformed the way people learn and acquire knowledge. The growing demand for online education has led to an increase in the number of universities offering online programs.
Charting Your Course: Making Informed Choices for Online College
Choosing to pursue an online college education can seem overwhelming, but with a bit of guidance, you can navigate it confidently. Here’s a distilled overview of a recent EducationDynamics study to guide your decision-making process.
Prioritizing Information Access
Students prioritize tuition costs, program availability, and additional fee information when choosing an online college. But almost half struggle to find this information on school websites. Therefore, it’s essential to dig deep and reach out to colleges directly if needed.
Social Media’s Power
About 80% of online students use social media daily, and 60% of these use it to make purchase decisions. Thus, don’t underestimate social media platforms’ role in informing your college choice; they can provide a unique insight into the college’s culture.
Smartphone: A Handy Tool
Most online students access social media via smartphones. Hence, this handheld device is your accessible research tool. Use it to navigate potential college social media feeds and webinars, or even engage in conversations.
Undergrad and Grad: Different Needs
Undergraduates focus on tuition costs, while graduates focus on program availability. Identifying your priority areas based on your academic stage will guide your search for information and help make a more informed decision.
The Journey Ahead
Online education offers flexibility and diverse program access. With the right information, you can make an informed decision that matches your academic goals and financial capabilities. Embrace the exciting opportunities that online education offers!
What to Consider When Choosing an Online University
When looking for an online university, it is important to consider several factors, such as accreditation, cost, program offerings, and student support services.
Accreditation
Accreditation is the process where an independent agency evaluates the institution to ensure that it meets certain standards of quality. Accreditation ensures that the education provided by a school meets the minimum requirements for academic excellence.
Cost
Tuition fees and net prices are significant factors to consider when choosing an online university. Compare the tuition costs of different universities to find the best value for your money. However, a higher tuition cost may indicate better quality education, so do not be swayed by low-cost programs alone. Look for universities that offer financial aid and scholarships to help ease the financial burden.
Program Offerings
Program offerings are crucial when considering your career goals. Choose an online university that offers programs in your area of interest and prepares you for your desired career path. Look for universities that offer diverse programs, including undergraduate, graduate, and professional certificates.
Student Support Services
Student support services are crucial for online students who may not have access to traditional support services such as physical campus or office hours. Choose an online university that offers a range of support services, including online tutoring, academic advising, career services, and technical support. The availability of support services can significantly impact your academic success.
Online Universities Ranking
To create our lists of the best online universities, we’ve collected and verified the annual tuitions of the top-ranked colleges offering online education. Affordability is only one factor in determining the value of your accredited online college degree program. A cheaper online degree may not provide the greatest bang for your buck. Post-graduation earnings information included with our ranked schools can help you choose the best online school that will give you the most value.
Accredited Online Programs That Might Interest You
Learn about start dates, transferring credits, availability of financial aid, and more by contacting the universities below.Wherein alumni salaries were available, schools were ranked higher than their counterparts that did not provide ROIs. ROI percentages were calculated by multiplying annual tuition multiplied by four in order to represent four years of college.
Best Online Associate’s Degrees | Best Online Bachelor’s Degrees | Best Online Master’s Degrees | Best Online Doctoral Degrees
Best Online Universities for 2023 (by degree level)
Earn your degree whenever and wherever you want with one of the online universities that made our list.
Best Online Associate’s Degrees
| Rank | School | Annual Tuition | Alumni Salary | ROI Value | ROI % |
| 1 | Clovis Community College – New Mexico | $1,472 | $27,732 | $26,260 | 471% |
| 2 | Georgia State University-Perimeter College | $2,360 | $43,099 | $40,739 | 457% |
| 3 | Western Nebraska Community College | $2,976 | $34,452 | $31,476 | 289% |
| 4 | Allen County Community College | $3,108 | $35,727 | $32,619 | 287% |
| 5 | Albany State University | $5,934 | $35,851 | $29,917 | 151% |
#1 Clovis Community College – New Mexico
Tuition: $1,472
Alumni Earnings: $27,732
Clovis Community College in New Mexico was founded with the values of excellence, diversity, collaboration, flexibility, optimism, and respect. With an open admission policy, the college has a student body of 3,107. Students benefit from smaller class sizes, providing opportunities for more personal interaction with professors and hands-on learning. According to Niche.com, the college has received an overall grade rating of B-.
CCC-New Mexico has programs that lead up to an associate’s degree, including seven online degree programs in behavioral science, business administration, computer information systems, criminal justice, general studies, legal assistant studies (paralegal studies), and liberal arts. These online degree programs are designed to be flexible and allow for online learning. Additionally, earning certificates alongside a degree can increase career opportunities and enhance your resume.
#2 Georgia State University-Perimeter College
Tuition: $2,360
Alumni Earnings: $43,099
Georgia State University-Perimeter College has a rich history of serving students in the Atlanta area for over 50 years. The college values its students and strives to provide a personalized learning experience with a low student-to-faculty ratio of 20:1.
The highest degree offered at Georgia State University-Perimeter College is an associate’s degree. The college offers a variety of subjects including English, Fine Arts, Health Professions, History/Political Science, Humanities, Life/Earth Sciences, and Mathematics. Some popular concentrations within these subjects are nursing, dental hygiene, American sign language, film, theatre, and music. This higher education institution is known for its students’ happiness and commitment to giving them a good education. Students can take classes in person or online. All majors have online education options for online learners who want the freedom and flexibility of learning at their own pace.
#3 Western Nebraska Community College
Tuition: $2,976
Alumni Earnings: $34,452
Western Nebraska Community College is a smaller school with 1,825 students. The college is proud of the success of its students, which it achieves through active teaching, active learning, accessibility, community involvement, and teaching students how to be ready for the workforce. Niche.com’s education statistics gives WNCC a grade of B-. For such a small school, Western Nebraska Community College has a wide range of online associate degree programs for students to choose from.
Some online degrees offer business administration, dentistry (pre), exercise science, nursing, surgical technology, criminal justice studies, human services, chemistry, engineering (pre), and music education. These are just a few of their exceptional online learning programs. Not only are these programs flexible, but you’re guaranteed small class sizes, individual attention, hands-on experience, and the opportunity to network with professionals within your community.
#4 Allen County Community College
Tuition: $3,108
Alumni Earnings: $35,727
Allen County Community College is in the town of Lola, Kansas, and there are 2,540 students. Allen County Community College wants to be known for giving high-quality education and giving people the tools they need to learn for the rest of their lives and make a difference in their communities.
The school has many online associate degree programs, such as farm and ranch management, anthropology, communication, early childhood education, English, graphic design, mathematics, political science, and pharmacy technician. These online programs are great for people looking for an entry-level job or wanting to get a bachelor’s degree to further their education. All the professors are trained professionals who’ve worked within your study area for many years. Allen County Community College has a high rate of satisfied students because they work daily to give their students a better online college education and more hands-on experience.
#5 Albany State University
Tuition: $5,934
Alumni Earnings: $35,851
Established in 1903, Albany State University is a distinguished secondary education institution that has earned recognition from U.S. News and World Report. The university has received several rankings, including #31 in Top Performers on Social Mobility and #58 in Historically Black Colleges and Universities, and is considered one of the best Top Public Schools.
Albany State University offers a range of associate degrees that can be completed online, including Associate of Science in Health Information Technology, Associate of Science in Medical Laboratory Technology, Associate of Science in the Core Curriculum-Criminal Justice Pathway, and Associate of Science in Core Curriculum-Health Science Pathway. The university also offers online psychology, sociology, and computer science programs.
Earning an associate degree from Albany State University has never been more accessible. It provides a path to enhance your career or pursue further higher education after graduation.
Best Online Bachelor’s Degrees
| Rank | School | Annual Tuition | Alumni Salary | ROI Value | ROI % |
| 1 | University of North Carolina at Pembroke | $3,495 | $39,279 | $35,784 | 281% |
| 2 | Kennesaw State University | $5,786 | $51,792 | $46,006 | 224% |
| 3 | Clayton State University | $5,068 | $43,853 | $38,785 | 216% |
| 4 | Georgia Southern University | $6,485 | $47,913 | $41,428 | 185% |
| 5 | Valdosta State University | $6,007 | $43,218 | $37,211 | 180% |
#1 The University of North Carolina at Pembroke
Tuition: $3,495
Alumni Earnings: $39,279
The University of North Carolina at Pembroke is a student-driven institution with over 8,000 students attending and 120+ student organizations for individuals to participate in. The U.S. News and World Report have given UNCP many rankings over the years; for the 2022 school year, they’ve received rankings like #65 in Regional Universities South, #18 in Top Performers on Social Mobility, and #30 in Top Public Schools. For many, earning their bachelor’s degree online is the best option; it allows for flexibility and lets you work at your own pace. The University of North Carolina at Pembroke offers six bachelor’s degrees 100% online. These degrees are a Bachelor of Arts in Criminal Justice, a Bachelor of Arts in Sociology, a Bachelor of Integrated Studies in Interdisciplinary Studies, a Bachelor of Science in Business Administration, an RN-BSN program, and a Bachelor of Science in Birth-Kindergarten Education. These programs offer many different options, such as specializations, accelerated tracks, and hands-on opportunities.
#2 Kennesaw State University
Tuition: $5,786
Alumni Earnings: $51,792
Kennesaw State University is the second-largest university in Georgia, with over 43,000 students attending. The university holds the prestigious title of being a Carnegie-designated doctoral research institution, which is only held by 6% of all colleges and universities in the United States. Niche.com gives Kennesaw State University an overall grade of B. The university offers 15 fully online bachelor’s programs. Individuals can choose from majors that include criminal justice, business, cybersecurity, sociology, political science, information technology, and many more. U.S. News and World Report ranked the school #18 for Best Online Bachelor’s in business programs. Kennesaw State University strives to provide engaging learning and hands-on experience even when you are at home. Many of these online programs can be taken as a full-time or part-time student, giving you more flexibility and freedom on when and how to finish your degree.
#3 Clayton State University
Tuition: $5,068
Alumni Earnings: $43,853
Since it opened in 1969, Clayton State University has been a well-known and award-winning school. Over the years, U.S. News and World Report has awarded the university many rankings, including #20 in Top Performers on Social Mobility and a spot among the best in Top Public Schools and Regional Universities South. Clayton State University offers approximately 17 bachelor’s degree programs entirely online. Many of these online programs are student favorites, and even with online education, you’ll find the one-on-one attention you need to help you be successful. A handful of their online degrees are Bachelor’s in French, Liberal Studies, Psychology/Human Services, Accounting, Supply Chain Management, Homeland Security, and Emergency Management. Highly trained professionals teach each online program, and each online degree program keeps a student-focused model. Many online college programs offer specializations or concentrations, so you can make your online learning program fit your needs and interests as a student.
#4 Georgia Southern University
Tuition: $6,485
Alumni Earnings: $47,913
Georgia Southern University is located in sunny Statesboro, Georgia. The university was built on collaboration, academic excellence, discovery, innovation, honesty, openness, inclusion, and sustainability. Best Value Schools ranked Georgia Southern University among the Top 49 Most Affordable Online Schools in 2021. Along with that ranking, Niche.com gives GSU an overall grade rating of B+. Georgia Southern University doesn’t offer many bachelor’s degrees online, but their online degrees are highly rated and have high student success rates. The online bachelor’s degrees offered at GSU are Bachelor of Arts in World Languages and Cultures, Bachelor’s of Interdisciplinary Studies, Bachelor of Information Technology, Bachelor of Science in Criminal Justice and Criminology, and an RN-BSN online program. For online students interested in the world languages and cultures major, you’ll have the chance to choose a concentration in French, German, or Spanish studies.
#5 Valdosta State University
Tuition: $6,007
Alumni Earnings: $43,218
Valdosta State University has expanded leaders’ minds since it opened its doors in 1913. Valdosta has been recognized for a variety of accomplishments since its inception. For the 2022 school year, it was ranked by U.S. News and World Report in National Universities, Top Performers in Social Mobility, and in Top Public Schools. Niche.com gave Valdosta State University an overall grade rating of B-. VSU has a wide selection of online bachelor’s degrees for students. Some majors that individuals can pursue are criminal justice, management, organizational leadership, French, psychology, Spanish, workforce education/development, and office administration/technology. Any of these online programs will open the door to various careers for you. After graduating from an online program, some of the most popular professions students have gone into include CIA Agent, Behavioral Therapist, Foreign News Correspondent, Business Analyst, Bilingual Educator, and Corporate Instructor.
Best Online Master’s Degrees
| Rank | School | Annual Tuition | Alumni Salary | ROI Value | ROI % |
| 1 | Georgia Institute of Technology | $11,764 | $88,196 | $76,432 | 187% |
| 2 | Augusta University | $8,122 | $42,408 | $34,286 | 131% |
| 3 | Eastern Illinois University | $13,101 | $47,991 | $34,890 | 92% |
| 4 | Midway University | $25,050 | $38,294 | $13,244 | 38% |
| 5 | American College of Education | $3,760 | N/A | N/A | N/A |
#1 Georgia Institute of Technology
Tuition: $11,764
Alumni Earnings: $88,196
Georgia Institute of Technology is a prestigious secondary educational institute recognized as a top 10 public research university. Georgia Tech aims to “create leaders who advance technology and make life better for people.” The university has very high rankings from U.S. News and World Report, including #4 in Most Innovative Schools, #10 in Top Public Schools, #38 in National Universities, and many other very good rankings. Niche.com gave GIT an overall grade rating of A+ for academics, value, and diversity. Georgia Institute of Technology offers 13 online master’s degree programs, such as aerospace engineering, cybersecurity, medical physics, operations research, analytics, computer science, manufacturing leadership, and mechanical engineering. Three of their online master’s programs are professional master’s degrees: applied systems engineering, manufacturing leadership, and occupational safety/health.
#2 Augusta University
Tuition: $8,122
Alumni Earnings: $42,408
Augusta University is recognized as Georgia’s health science and medical college, serving students since 1828. The university is a research institution awarding individuals with undergraduate, graduate, and professional level degrees. August University has received many rankings, including landing among the best in Top Performers on Social Mobility, National Universities, Nursing, and Top Public Schools by U.S. News and World Report. Augusta University has 8 online master’s degrees which consist of, Master in Business Administration, Master of Education in Counselor Education, Master of Arts in Teaching Programs, Master of Science in Epidemiology, Master of Science: Information Security Management, Master of Education with a Major in Instruction, Master of Science with a Major in Kinesiology, and Master of Education in Educational Leadership. A multitude of these online programs offer concentrations and internships or hands-on experience in the field you’re pursuing. Practicing your skills within the community will not only give you the advantage you need to be successful, but it’ll give you opportunities for networking with the professionals you meet.
#3 Eastern Illinois University
Tuition: $13,101
Alumni Earnings: $47,991
Eastern Illinois University was founded in 1895 and is home to over 7,000 students. It’s found itself as a highly-ranked school since its opening. The U.S. News and World Report has ranked it #54 in Regional Universities West, #23 in Best Colleges for Veterans, #12 in Top Public Schools, and #48 in Best Value Schools. Eastern Illinois University has 19 online master’s programs, including one professional master’s degree. Some of their most popular online master’s degrees are the Master of Science in Cybersecurity, Master of Science in Health Promotion, Master of Science in Talent Development, Master of Science in Nutrition and Dietetics: Nutrition Education, Master of Arts in Political Science, Master of Arts in Aging Studies, and a Masters in Business Administration. The best thing about their online programs is that most of them have concentrations within the degree, allowing students to focus on their desired specialization.
#4 Midway University
Tuition: $25,050
Alumni Earnings: $38,294
The Southern Association of Colleges and Schools Commission on Colleges has approved Midway University, which is in the town of Midway in Kentucky. The U.S. News and World Report ranked Midway #98 in Regional Universities South and #25 in Top Performers on Social Mobility. Midway University doesn’t offer many online master’s degrees, but the ones it does provide include a Master’s of Business Administration, Master’s in Education, and a Master of Science in Nursing. Each of these degrees is unique in its own way and offers exceptional advantages.
The online MBA program has 5 concentrations for distance learners: equine management, health care administration, human resource management, sport management, and tourism/event management. In your Master’s in Education program, you’ll take your graduate degree classes online while leading in the classroom and gaining real-world experience. In the Master of Science in Nursing program, you’ll choose to do a Nursing Administration or a Nursing Education track. Each program is flexible to your needs.
#5 American College of Education
Tuition: $5,160
Alumni Earnings: N/A
American College of Education is a reputable private online institution in Indianapolis, Indiana. The most significant benefit to an all-online university is that they know the highest quality way to teach through distance learning. The Higher Learning Commission accredits the American College of Education. Regarding online master’s degree programs, ACE provides 24 programs for individuals to study under. Some of their most popular programs are Master of Education in Special Education, Master of Education in STEM Education, BSN to MSN, Master of Healthcare Administration, Master of Business Administration in Social Impact, RN to MSN, and a Master of Education in Advanced Studies. Graduates have gone on to be very successful, with 97% of graduates believing that their professional skills are more advanced after graduating from their online programs.
Most Affordable Online Doctoral Degrees
| Rank | School | Annual Tuition | Alumni Salary | ROI Value ROI % | ROI % |
| 1 | Mississippi State University | $9,398 | $46,141 | $36,743 | 123% |
| 2 | Liberty University | $22,511 | $42,394 | $19,883 | 47% |
| 3 | Bethel University – Minnesota | $41,270 | $55,159 | $13,889 | 33% |
| 4 | American College of Education | $5,160 | N/A | N/A | N/A |
| 5 | University of St Augustine for Health Sciences | $26,341 | N/A | N/A | N/A |
#1 Mississippi State University
Tuition: $7,335
Alumni Earnings: $46,141
Mississippi State University is a top research university that tries to give all students a chance to learn by doing. U.S. News and World Report has recognized the university with numerous rankings, including Best Value Schools, Best Colleges for Veterans, Top Public Schools, and among the best in National Universities. Mississippi State University has an array of different online doctorate degree programs, including a Doctor of Philosophy in Computer Science, Doctor of Philosophy in Computational Engineering, Doctor of Philosophy in Industrial/ Systems Engineering, Doctor of Philosophy in Community College Leadership, Doctor of Philosophy in Engineering with concentrations in Aerospace Engineering, Chemical Engineering, Civil Engineering, Engineering Education, and Mechanical Engineering. These highly advanced online degree programs are best for students who enjoy a challenge and can stay focused.
#2 Liberty University
Tuition: $22,511
Alumni Earnings: $42,394
Liberty University is a religious university with Christian-based values instilled within all they do in hopes of improving tomorrow’s world. LU has a total enrollment of over 100,000 students and has an online student-to-faculty ratio of 17:1, allowing plenty of one-on-one time with professors. Liberty University has 11 doctorate degrees that can be earned from the comfort of your own home. A few of their most popular doctorate degree programs consist of a Doctor of Philosophy, Doctor of Public Administration, Doctor of Strategic Leadership, Doctor of Worship Studies, Doctor of Nursing Practice, Doctor of Education, and Doctor of Music Education. Many of these programs offer professional studies classes online, but you’ll need to complete an internship within your community to practice the skills you’ve learned in a real-world setting.
#3 Bethel University – Minnesota
Tuition: $41,270
Alumni Earnings: $55,159
Bethel University-Minnesota is a Christ-centered institution with core values of being Christ-followers, character-builders, truth-seekers, world-changers, and reconcilers. According to the U.S. News and World Report, Bethel University-Minnesota has landed rankings among National Universities, Top Performers in Social Mobility and Nursing. Niche.com has given the university an overall grade rating of B. The online doctorate degrees at Bethel are a Doctor of Nursing Practice, an Ed.D. in Higher Education Leadership, and an Ed.D. in K-12 Administration. All of these degrees can be completed within 2-3 years but may require a dissertation to be done before graduation. As a doctorate-level student, you’ll be expected to conduct research with experience-based knowledge.
#4 American College of Education
Tuition: $5,160
Alumni Earnings: N/A
American College of Education is a reputable private online institution in Indianapolis, Indiana. The most significant benefit to an all-online university is that they know the highest quality way to teach through distance learning. The American College of Education has provided top-quality distance education to undergraduates and graduates. Among their many online college programs, ACE has 6 doctorate level degrees, including a Doctor of Education in Curriculum/Instruction, a Doctor of Education in Instructional Technology, a Doctor of Education in Leadership, a Doctor of Education in Nursing Education, a Doctor of Education in Public Health Education, and a Doctor of Education in Second Language Instruction. These degree programs can be completed within 3-years and are ideal for professionals interested in teaching within their career fields.
#5 The University of St Augustine for Health Sciences
Tuition: $26,341
Alumni Earnings: N/A
The University of St. Augustine for Health Sciences was created to build up tomorrow’s healthcare workers through innovative, hands-on learning. The institution is highly recognized and only offers graduate-level degrees making it a more competitive school to be accepted into. Those who are accepted must uphold themselves to professional and ethical standards of conduct. The doctorate-level degrees that can be achieved online from the University of St. Augustine for Health Sciences include a Transitional Doctor of Physical Therapy, a Post-Professional Doctor of Occupational Therapy, and a Doctor of Nursing Practice. These degrees are focused on physical therapists, occupational therapists, and nurses who are seeking to advance their skills and credentials even further. The online course program is designed for working professionals to take classes on their own time and gain any hands-on learning intermittently as needed. Each of these online programs has a high graduation rate and may include specializations for individuals looking to focus their careers.
Online Universities Stats & Facts
The cost of college can vary widely depending on factors such as the type of institution (public or private), location, and program of study. Here are some statistics on the cost of college, with links to sources:
- According to data from the National Center for Education Statistics, the average net price for full-time students at public colleges and universities for the 2018-2019 academic year was $12,620 for in-state students and $23,160 for out-of-state students when taking at least 50% of their courses online ( https://nces.ed.gov/programs/coe/indicator_cga.asp ).
- According to National Center for Education Statistics data, the average net price for full-time students at private non-profit colleges and universities for the 2018-2019 academic year was $24,020 when taking at least 50% of their courses online ( nces.ed.gov ).
- According to National Center for Education Statistics data, the average net price for full-time students at private for-profit colleges and universities for the 2018-2019 academic year was $16,770 when taking at least 50% of their courses online ( nces.ed.gov ).
- According to a report by the Babson Survey Group and the University of California, Davis, the average tuition and fees for a fully online bachelor’s degree at a public institution for the 2018-2019 academic year was $6,360 for in-state students and $18,390 for out-of-state students ( https://www.onlinelearningsurvey.com/reports/gradelevel.pdf ).
- According to a report by the Babson Survey Group and the University of California, Davis, the average tuition and fees for a fully online bachelor’s degree at a private non-profit institution for the 2018-2019 academic year was $27,290 ( onlinelearningsurvey.com ).
- According to a report by the Babson Survey Group and the University of California, Davis, the average tuition and fees for a fully online master’s degree at a public institution for the 2018-2019 academic year was $10,380 for in-state students and $22,190 for out-of-state students ( onlinelearningsurvey.com ).
- According to a report by the Babson Survey Group and the University of California, Davis, the average tuition and fees for a fully online master’s degree at a private non-profit institution for the 2018-2019 academic year was $25,620 ( onlinelearningsurvey.com ).
- According to data from the National Center for Education Statistics, the average net price for full-time students at public colleges and universities for the 2018-2019 academic year was $12,620 for in-state students and $23,160 for out-of-state students when taking at least 50% of their courses online ( nces.ed.gov ). This includes undergraduate and graduate students.
- According to National Center for Education Statistics data, the average net price for full-time students at private non-profit colleges and universities for the 2018-2019 academic year was $24,020 when taking at least 50% of their courses online ( nces.ed.gov ). This includes undergraduate and graduate students.
- According to National Center for Education Statistics data, the average net price for full-time students at private for-profit colleges and universities for the 2018-2019 academic year was $16,770 when taking at least 50% of their courses online ( nces.ed.gov ). This includes undergraduate and graduate students.
Traditional Universities Stats & Facts
- According to data from the College Board, the average published tuition and fees for full-time in-state students at public colleges and universities for the 2021-2022 academic year were $10,560 for four-year institutions and $4,480 for two-year institutions ( https://trends.collegeboard.org/college-pricing/figures-tables/average-published-tuition-and-fees-and-room-and-board-rates-over-time ).
- According to data from the College Board, the average published tuition and fees for full-time out-of-state students at public colleges and universities for the 2021-2022 academic year were $26,820 for four-year institutions and $12,990 for two-year institutions (CollegeBoard).
- According to data from the College Board, the average published tuition and fees for full-time students at private non-profit colleges and universities for the 2021-2022 academic year were $35,830 (CollegeBoard).
- According to National Center for Education Statistics data, the average net price (total cost minus grant and scholarship aid) for full-time students at public colleges and universities for the 2018-2019 academic year was $12,620 for in-state students and $23,160 for out-of-state students ( https://nces.ed.gov/programs/coe/indicator_cga.asp ).
- According to data from the National Center for Education Statistics, the average net price for full-time students at private non-profit colleges and universities for the 2018-2019 academic year was $24,020 ( https://nces.ed.gov/programs/coe/ )
College ROI: Understanding the Return on Investment of Higher Education
Higher education has become an integral part of the modern workforce. The benefits of attending college go beyond just acquiring knowledge and skills, as it also provides a significant return on investment (ROI). In this article, we will explore the concept of college ROI, its importance, and how to maximize your investment in higher education.
Understanding College ROI
The ROI of college is the amount of financial return that you can expect to earn after completing your degree, in comparison to the cost of your education. It is a measure of the value that you receive from investing in higher education. College ROI is a critical consideration for prospective students and their families when deciding on a college and a major.
Factors that Affect College ROI
The ROI of college is influenced by several factors. The most significant factors include:
College Major
Your choice of major plays a crucial role in determining your college ROI. Some majors, such as engineering and computer science, have a higher ROI than others, such as arts and humanities.
College Tuition
The cost of tuition varies significantly across colleges and universities, and it is an essential factor in calculating college ROI. The higher the tuition cost, the longer it takes to recoup the investment in education.
Employment Rate
The employment rate of graduates is another significant factor in determining college ROI. The higher the employment rate, the greater the likelihood of earning a higher salary, and the higher the ROI.
Student Debt
Student loan debt is an essential consideration when calculating college ROI. The higher the amount of student debt, the longer it takes to break even, and the lower the ROI.
