Are Online Degrees Less Expensive Than a Traditional Degree?

Many individuals considering an online psychology degree ask the questions – Is an Online Degree Less Expensive than a traditional degree? The answer to this question depends largely upon the program being applied to, the degree being sought and the region of the country in which country you live. For the most part, online degree costs are comparable to those of a traditional degree. There are cases where they can be more costly and there are cases in which they can be less.

In some cases it is less expensive to complete some or all of your coursework online. This is largely because when students complete an online degree, there is less overhead cost for the college or university. However, there are also many misconceptions about this issue.

Commonly Held Misconceptions About Online Courses:

1. Online Degrees are cheaper because there is one instructor for many students. This is false because in order to achieve collegiate accreditation, instructor to student ration must be a reasonable number.
2. Online Degrees are cheaper because they are less intensive than a traditional degree program. This is also a falsehood. Most colleges or universities must put as much time and effort into an online course than an on campus course.
3. Online Degrees are cheaper because they are offered only by “Virtual Colleges.” This is very far from the truth. While there are Virtual Colleges who offer non-accredited degrees, many fully accredited academic institutions are offering fully or partially online degree programs.

The Realities of Why Online Degree Programs are More Cost Efficient:

1. One of the major benefits to online learning, aside from flexibility, is the elimination of traveling and other related expenses. Without tolls, parking fees, gas and other costs, students can save hundreds or even thousands of dollars each year.
2. Another major benefit to the cost efficiency of online learning is that online students receive the most technologically advanced education possible. While some on-campus learning experiences include technological advances, many do not. When enrolled in an online program, you learn not only your desired curriculum, but also you learn to keep up with the technological advances that will be important for your career.
3. Most busy individuals recognize the saying “Time is Money.” When it comes to Online Learning this could be the collective mantra. If you are someone with limited time to put towards a degree, the ability to learn online is priceless.

The general answer to whether an Online Degree or a Traditional On-Campus degree is cheaper, is not a simply answer. It depends upon a number of important factors. What is most important to consider is what value an online degree is to you personally. Does it benefit you in terms of saving time and travel expenses? Does it allow you to attend a college that would otherwise be too difficult to attend? Will you save money in the long run? There are a number of issues to consider when you choose which learning style is the most cost effective for you.