Helpful Steps For Navigating the Costs of Online Degrees

navigating the costs of online college

We all know college can be expensive, but we are here to give you helpful steps with navigating the costs of online degrees.

Over half of adults (56%) who want to start or finish a degree hesitate because of the cost, according to the Lumina Foundation’s 2024 State of Higher Education Report.

But it’s not just the expense that’s daunting; many people are also unsure about the actual cost. The report reveals that most adults either overestimate or underestimate college costs by at least $5,000.

The good news? College costs don’t have to be so confusing. There are resources available to help you gain clarity—and you might even uncover some surprising ways to save!

Consider an online degree.

Online college programs are a popular choice among adult learners (those over 24 years old) because of the flexibility they allow people with jobs, families and other responsibilities. Many universities — UNC Charlotte included — keep their credit hour costs for in-person and online programs the same or similar to show that both paths lead to the same quality education.

But there’s a host of ways online programs fare better than their on-campus counterparts when it comes to expenses: 

  • No campus-based fees. Online students save hundreds of dollars in university fees that students living on or commuting to campus must pay.  Health services, athletics, student activity and transportation fees are just a few dues the online student can skip out on. 
  • In-state tuition for out-of-state residents. Interested in a certain college in another state? Check its policy. Some universities grant in-state tuition for online courses. UNC Charlotte honors in-state tuition for more than 50 Charlotte Online programs to eligible students living outside North Carolina. 
  • You get to keep your salary while you learn. You have bills to pay (like tuition). Because online classes are held in the evening, or are asynchronous, meaning you can take them whenever you want, you can keep your day job. In fact, you’re in good company. According to Education Dynamics’ 2023 Online College Students Report, 59% of online students work a fulltime hustle while taking courses.

Online students are also eligible for a lot of the same benefits as on-campus students, too. 

  • Financial aid. Fill out your FAFSA. In 2022-2023, 97% of UNC Charlotte students who applied for financial aid through FAFSA received it, and the average aid per student was $12,394.
  • Scholarships. UNC Charlotte awards over 1,600 scholarships each year, including those that come from its adult student scholarship opportunities. Outside scholarships, like the ANSWER Scholarship, which supports Mecklenburg County mothers of school-age children, can provide assistance as well. Since its founding, ANSWER Inc has awarded over $718,000 in scholarships to 125 moms. 

Earn your money back. 

Although the cost of tuition seems like a lot up front, and it can be, most graduates are betterare the better off for it, financially. That’s because they’ll most likely earn more after graduation. A 2023 study of the University of North Carolina System’s academic undergraduate programs showed the median lifetime earnings of a UNC System bachelor’s degree graduate ($1.2M) surpasses that of a North Carolinian without a degree ($628K) by $572K. How’s that for a return on investment?

The right college program is worth every penny.

No matter where you earn your degree, make sure you’re getting the best value for your tuition dollars. Not all colleges are the same, so do your research. We’ll get you started with a few facts about Charlotte Online:

  • Top ranking online programs Charlotte Online ranks #10 in the nation by US News and World Report as one of the best providers of online bachelor’s degrees. 
  • Our focus is on students Online courses are designed using the Student First Framework. SFF focuses on student needs, ensuring that classes are relevant, accessible and engaging for adult learners.
  • Support from enrollment to graduation From academic tutoring to online community networks to mentors and career counseling, you’re never alone on your journey at Charlotte Online. 

Visit online.charlotte.edu to find more information.