Going back to school is a big decision. Choosing an affordable or “cheap” accredited online degree program can be tricky. Most quality degree programs, especially accredited ones, are not cheap. There are ways, however, that you can defray the cost making them much more affordable and easier on your budget. The good thing about an online degree program is the flexibility allows you to keep working while you attend school. Working will give you some of the financial support you need to pay for your classes, but there are other options as well.
Scholarships
Scholarships are an ideal way to help you cover the cost of your accredited online degree program. Most scholarships can be used for any type of degree program whether it is online or on campus. A scholarship is considered to be a gift and the group or organization that is offering it does not expect to be paid back. In most cases, when a scholarship is awarded, it can be used for any educational expense including tuition, room and board, books, or supplies. If it is designated for a specific purpose, the recipient will be told when they receive the money.
Grants
Grants are similar to scholarships in that they do not have to be paid back. The three primary differences between a grant and a scholarship are the application process, the amount awarded, and the number of times a grant can be given to the same person. The application for a grant is much more extensive than that of a scholarship. When it comes to the amount, grants are sometimes much larger than what is awarded for a scholarship. Finally, some grants are multi-year awards and students can receive them for two, three, or four years in a row.
Employment Reimbursement Programs
An employment reimbursement program requires the student to pay for the education upfront. Once they have completed a class and have the transcript that says they passed, it can be turned into their employer. As soon as the employer has the transcript they will turn around and reimburse the student for the money they spent on the course. Most employers will do this throughout the employee’s education as long as an agreement has been reached. Most of these agreements state that the employer will pay for the employee’s education as long as they commit to working for them for a specific period of time. This gives the employee the benefits of the education and the employer reaps the rewards of the employee being able to be more productive and efficient at their job.
Learning how to make your accredited online degree program more affordable is important. There are several ways you can save money on your educational expenses if you take the time to do your research. Talk to local organizations and discuss your options with your employer. Investing in yourself is the best way to have a brighter future. Always be on the lookout for grants and scholarships. They can be found in many different places and are the best way to cut the cost of your online education.
