Online tuition for accredited college degree programs ranges from $125 per credit hour to $500 per credit hour. learning where to shop for tuition bargains can help reduce a student's dependency on student loans, or their need for scholarships or other financial aid. In 2010-2011, the maximum Pell Grant award is $5500, which covers less than 50% of the annual cost of enrollment at the average public university, according to Lauren Asher, president of a nonprofit advocacy group, Project on Student Debt, in Berkeley, California in a March 23, 2010 interview with Los Angeles Times columnists Walter Hamilton and Larry Gordon.
Accredited Online Universities
The United States Department of Education recognizes several accrediting agencies for distance learning programs. One drawback of choosing a school which is not accredited is that scholarships and federal student aid money might not be spent there. Additionally, students who wish further their education and transfer to another school for a Master's Degree may be rejected if the original Bachelor's Degree wasn't from an accredited institution.
Sometimes, courses taken at institutions that aren't accredited can be analyzed by an accredited institution. At their discretion, credit may be issued for those courses, usually with an accompanying fee.
Comparing Online Degree Programs
There are many factors to consider when comparing colleges online. To see who's the cheapest, create a spreadsheet with columns for each fee. Be sure to make a note of every school's application fee, matriculation fee and tuition per credit hour. Some schools charge fees for graduating and for issuing a degree. If a student is planning to participate in a program that offers credit for professional training, life experiences or examinations like the CLEP or DANTE, those costs should be factored in as well.
Some schools offer payment plans. Ashworth College, for example, allows students an interest free payment plan (not a loan) with payments as low as $29 a month. Tuition fees at Ashworth include textbooks and the cost per credit hour can be as low as $80. California Coast College, whose undergraduate tuition is $150 per hour has a payment plan that's $100 a month.
Cheapest Tuition Rates Per Credit Hour
The biggest cost for an online degree will come from the expense of the courses and the textbooks. Class tuition is based upon credit hours, which generally amounts to the time spent per week in class. Tuition is generally cheaper for undergraduates than it is for students who are seeking a Master's Degree, or Doctorate online.
Ashworth is unique in that in includes textbooks in the tuition rate. Other schools with a low cost per credit are Nebraska's Chadron Peru State College offers undergraduates an online tuition rate of $180 per credit hour, with no penalty for being a nonresident.
Comparing the costs to find the cheapest online degree program is the best way to start a college life without debt. Finding a cheap online degree, that's transferable, with reputable accreditation involves a lot of research. The results will be different for every student, depending upon the course of study, educational goals and previous life experiences.
Resources:
United States Department of Education: Accrediting Agencies Recognized for Distance Education
Los Angeles Times: Student Aid Overhaul Passes House March 23, 2010
Lisa Russell - Lisa Russell is a freelance writer and mom of six daughters. She blogs about their life at lisarussell.org
