Most Affordable Online Master’s in Education Degrees
Earning your degree through one of todays’ best online master’s in education programs can be more affordable than you think. Explore specialization options, delivery formats, financial aid resources, and more.
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Whether you’re a licensed teacher seeking to enhance your skills and salary, hold a bachelor’s degree in a different field and aspire to become a teacher, or aim to pursue advanced roles in educational administration and instructional design, an online master’s degree in education can assist you in achieving your career goals in a format that accommodates your busy schedule.
Finding a high-quality, reasonably-priced online education master’s program from an accredited university has become easier than ever before. To assist you in getting started, we’ve compiled a list of the most affordable online education master’s programs for this year. Keep reading to discover an online master’s in education program that suits your budget and career objectives, as well as additional tips on obtaining financial assistance to pay for graduate school.
Where to Get Funding for Your Online Master’s in Education
Students working towards an online education master’s degree can secure funding from a variety of places, including the government, the school where they’ll earn their masters, and their employers. The options below detail some of the most common ways to fund your degree.
1
Apply to scholarships, grants, and fellowships created for education master’s students.
You can find plenty of educational funding in the form of scholarships, grants, and fellowships if you plan to study education. For instance, the Leon Bradley Scholarship Program offered by the American Association of School Personnel Administrators provides $3,500 to qualified students. Start your search for scholarships, grants, and fellowships early with our STEPS financial aid guide and our Resources, Scholarships and Support Services for Education & Teaching Majors guide.
2
Look into Student Loan Forgiveness for teachers
Qualified teachers can receive up to $17,500 of loan forgiveness for their unsubsidized loans. Applicants must work full-time for at least five academic years at a school that serves low-income students. Requirements vary based on whether you teach elementary, middle, or high school, so be sure to review the eligibility information carefully before applying.
3
Ask about a tuition reimbursement program from your employer
If you’re employed by a private school, you may be eligible for a tuition reimbursement program that can help cover educational expenses. Employers can provide up to $5,250 annually tax-free (amounts exceeding this are not tax-free) to cover expenses such as tuition, textbooks and supplies, and required fees. Even if your employer does not advertise this benefit, it’s worth asking them if it’s an option.
4
Take advantage of work-study
The Free Application for Federal Student Aid (FAFSA) indicates if you qualify for work-study funds. If you do, apply to in-person or virtual part-time jobs at your university and receive at least the federal minimum wage. In some cases, you can request work-study positions that directly relate to your master’s degree, thereby gaining valuable experience before graduating. Indiana University Southeast provides a solid example of what to look for in work-study opportunities.
5
Take on a research or teaching assistantship
You may qualify for a research or teaching assistantship within your school of education. Compensation for these positions varies across universities. Some provide stipends to help cover costs, while others provide tuition remission or specific scholarships. These positions tend to be highly competitive, so begin researching them early. The Graduate School at the University of Kentucky provides an example of a school offering these positions.
5 Key Factors That Can Impact the Affordability of Your Online Master’s in Education
If you’re seeking ways to keep your expenses low before pursuing additional funding sources, it’s essential to understand that several factors can influence the actual cost of your degree. In this section, we examine a few common factors that students should take into account.
Public vs. Private
Whether you attend a public or private university can have a huge impact on how much you pay for your online Master in Education. According to CollegeBoard, students enrolled in public institutions as of the 2020-2021 academic year paid an average of $8,950 while those studying at private schools paid an average of $29,670.
Resident vs. Non-Resident Status
Because public schools receive state funding for resident learners, attending one of these institutions in your home state can save serious dollars. During the 2020-2021 school year, resident students paid an average of $10,560 while non-resident students paid an average of $27,020 during the same year.
Online Student Tuition Rate
Some schools have lower online tuition rates than those charged for on-campus students. In the case of private schools, the institution may reduce the advertised price for online students. Finally, public schools sometimes let online learners pay the resident tuition rate regardless of where they live.
School-Based Funding
Many schools provide department-specific scholarships and other types of funding to students enrolled in education master’s programs. Some of these are awarded based on merit while others focus on supporting students with financial needs. Review the Laverne I. & Marvin L. Colness “Pay it Forward” Scholarship offered at the University of Minnesota Duluth as an example.
Fees
Students don’t always consider fees outside of tuition when creating a budget. While online learners avoid many campus-based costs such as parking passes, facilities usage, gym memberships, and campus-based housing, they still incur some added feels. Technology and student service fees are common for online students.
