No matter how you look at it, getting your college or post-graduate degree can be very expensive. In fact, according to the Wall Street Journal, the average college graduate in 2014 will leave school with over $30,000 in student debt. However, there are ways you can ensure that going to school to get your degree doesn’t leave you with mountains of debt that you’ll be paying back for decades.
One of the top things you can do to decrease your student debt is to attend school online. Here are four reasons why getting your degree online can help you decrease your student loans.
Classes Are Less Expensive
Going to school online tends to cost less than attending classes in a traditional college or university setting. In fact, it is possible to save thousands of dollars, or even tens of thousands of dollars, over the course of your education. This is money that you might have otherwise had to take out on a loan.
Attending a less expensive program can ensure that you graduate from your college or university with as little student loan debt as possible. The lack of a physical classroom helps online programs charge less than their traditional counterparts, and they pass the savings onto you.
No Room and Board
While not all online degree programs will save you money over traditional schools, there are other areas where you are guaranteed to save money. One of these is room and board. At many traditional colleges and universities, the cost of food and lodging can be even more expensive than the cost of classes. However, if you already have a place to live, saving money on room and board can keep your student loans to a bare minimum.
Keep Your Day Job
If you are going back to school, especially for a post-graduate degree, going to school online can allow you the flexibility you need to keep your day job. Not only will this give you the ability to continue gaining work experience while you go to school, but it will also allow you to manage your time more effectively without having to worry about missing a class.
The most popular degrees to get online include the MSW degree, MBA, and Masters of Teaching. Increasingly, it is also becoming more and more common to get your bachelor’s degree online as well.
Students attending a traditional college or university often have to buy expensive books and pay for things such as school supplies and printing assignments. However, if you are attending classes online, many of these expenses are non-existent or significantly less. In fact, many online courses rely more heavily on printable lessons than books, reducing a significant cost that traditional students must face.
While an online education might not be for everyone, it can be a great way for students to save money while getting their college or university degree. After all, no one wants to be saddled with huge student loans debts before they even graduate.