Let’s face it. The fact of the matter is that college is expensive. Regardless of whether you’d just graduated high school or are looking to go back to college to improve your skill set and profitability, school is going to set you back several thousand dollars. Rather than uprooting your life and moving across the country to attend the college of your choice, an attractive alternative is online school.
One common benefit associated with online degrees is how earning your degree through an online school is more affordable than the traditional on-campus alternative.
So how much does it really cost to earn a degree through an online school? 
- Through many application fees are still in effect when applying to the online school, there are some schools that will waive the cost for a savings of $30 to $100 per application.
- Many online schools charge by the class or credit hour, vs. the traditional semester-based tuition. On average, on-campus education is $239 per credit hour, compared to $252 for online degrees. Though the price may vary from school to school, the average credit hour costs more online.
- The cost of books varies depending on the class. Online schools offer the convenient option of having books available online rather than purchasing hard copies as is required for traditional schools. On average, the books for a bachelor’s degree is approaching $2000! Anyone that enrolls at an online school will require a computer which can run anywhere from a few hundred to a few thousand dollars.
- Online students will require a reliable internet connection which runs on average for about $20/month, depending on the provider and bandwidth preferences. An internet connection could cost up to $1000 by the time the online degree is obtained. Most households already have an internet connection, so this cost may be a moot point.
- Upon completion of the degree, online schools typically purchase caps and gowns for graduation. There is typically a processing fee for the paperwork associated with the degree completion.
Comparatively, the cost of online school and traditional on-campus school is very similar. The biggest difference will be associated with the living fees when living on campus, whereas most people earning an online degree will not have need for additional housing. There is additional time and money saved by negating the commute altogether when attending an online school.
At the end of the day, deciding between an online school and traditional on-campus school is about lifestyle choice rather than cost.