Most Affordable Online Master’s in Psychology Degrees
Did you know there are ways to make earning a psychology degree more affordable? To show you how, we’ve compiled a list of the top colleges that offer more bang for your buck, as well as budget-friendly tips that can help you pay for grad school.
If you’re seeking a graduate degree that offers a diverse range of job prospects and enables you to analyze human behavior in fields ranging from education and marketing to sports and counseling, obtaining an online master’s in psychology can be an excellent option due to its flexible format. Moreover, online programs are typically less expensive than their on-campus counterparts while delivering the same quality of education.
This page highlights the accredited colleges offering the most affordable online psychology master’s degree programs and provides additional helpful tips to reduce the cost of your degree. Utilize it to commence your search for an online master’s in psychology program that aligns with your budget and career objectives.
The Most Affordable Online Psychology Master’s Degrees
There are multiple considerations when looking for an online psychology master’s degree. Elements like length of the program, specialization options, and program reputation are important, but affordability is often the deciding factor for many students. The following ranking of the most affordable online psychology master’s programs can help you find low-cost programs from accredited colleges that still deliver on quality. The ranking combines key affordability and quality metrics pulled from The Integrated Postsecondary Education Data System (IPEDS). For more information on our ranking methodology, click the “About the ranking” button below for a complete rundown of how we calculate our rankings.
Fayetteville State University
Fayetteville, North Carolina
Public
Ball State University
Muncie, Indiana
Public
Fort Hays State University
Hays, Kansas
Public
Florida State University
Tallahassee, Florida
Public
Tarleton State University
Stephenville, Texas
Public
Florida Atlantic University
Boca Raton, Florida
Public
University of Missouri-St Louis
Saint Louis, Missouri
Public
Angelo State University
San Angelo, Texas
Public
Florida International University
Miami, Florida
Public
University of Louisiana at Monroe
Monroe, Louisiana
Public
Brescia University
Owensboro, Kentucky
Private
Southeast Missouri State University
Cape Girardeau, Missouri
Public
University of Idaho
Moscow, Idaho
Public
University of West Alabama
Livingston, Alabama
Public
Minnesota State University Moorhead
Moorhead, Minnesota
Public
George Mason University
Fairfax, Virginia
Public
University of Northern Colorado
Greeley, Colorado
Public
Auburn University
Auburn, Alabama
Public
University of Memphis
Memphis, Tennessee
Public
Saint Peter’s University
Jersey City, New Jersey
Private
National Louis University
Chicago, Illinois
Private
Baker College
Owosso, Michigan
Private
Liberty University
Lynchburg, Virginia
Private
Oklahoma State University
Stillwater, Oklahoma
Public
Western Connecticut State University
Danbury, Connecticut
Public
Michigan State University
East Lansing, Michigan
Public
Colorado State University-Fort Collins
Fort Collins, Colorado
Public
LeTourneau University
Longview, Texas
Private
Purdue University Global
West Lafayette, Indiana
Public
Saint Leo University
Saint Leo, Florida
Private
Ferrum College
Ferrum, Virginia
Private
Missouri University of Science and Technology
Rolla, Missouri
Public
Marian University
Fond Du Lac, Wisconsin
Private
Southern New Hampshire University
Manchester, New Hampshire
Private
Texas A&M University-Central Texas
Killeen, Texas
Public
Indiana Tech
Fort Wayne, Indiana
Private
Johnson & Wales University-Online
Providence, Rhode Island
Private
Shippensburg University of Pennsylvania
Shippensburg, Pennsylvania
Public
The Chicago School
Los Angeles, California
Private
Chaminade University of Honolulu
Honolulu, Hawaii
Private
Nova Southeastern University
Fort Lauderdale, Florida
Private
Life University
Marietta, Georgia
Private
St. Thomas University
Miami Gardens, Florida
Private
Lynn University
Boca Raton, Florida
Private
Sacred Heart University
Fairfield, Connecticut
Private
Funding Your Online Psychology Master’s: 5 Ways to Lower Costs
Funding your online psychology master’s degree is a daunting task. Fortunately, there are many ways – from scholarships, grants and fellowships, to tuition reimbursement, assistantships, and loan forgiveness – to reduce what you have to pay in tuition.
1
Apply to scholarships, grants, and fellowships created for psychology grad students.
Many professional associations, foundations, nonprofit groups, and government entities provide scholarships, grants, and fellowships designed to support students working towards a Master in Psychology. The American Psychological Foundation, for example, awards 21 different graduate-level scholarships ranging from $2,000-$5,000 each year. These awards are highly competitive, so start your search early and stay organized so you don’t miss any deadlines.
2
Take advantage of tuition reimbursement programs
If you already work in the psychology field or a related discipline, ask your employer if they would provide tuition reimbursement for your graduate program in exchange for you working for the company for a set time after graduating. Employers can provide up to $5,250 each academic year in tuition reimbursement that you won’t be taxed for as income. These funds can be used to pay for tuition, textbooks, supplies, and educational fees.
3
Apply for teaching or research assistantships
Many master’s in psychology programs provide teaching and/or research assistantships to help lighten the burden of faculty while also providing an opportunity for students to gain real-world, transferrable skills. They come with financial incentives such as tuition remission or stipends to cover educational costs. These programs are usually highly competitive. The University of Kentucky provides an example of what to look for.
4
Seek out work-study opportunities
Work-study funds are available to students with financial need as determined by their Free Application for Federal Student Aid (FAFSA) information. If you qualify, you can apply for a campus-based or virtual part-time job at your school. Most of these positions pay at least the Federal minimum wage, sometimes more, and some may relate to your master’s degree.
5
Apply for public service loan forgiveness
Depending on where you plan to work, you may qualify for the U.S. Department of Education’s Public Service Loan Forgiveness program. If you work for a local, state, or federal government agency or a nonprofit organization for 10 years, you can apply for forgiveness on the remainder of your direct loans. You must make 120 qualifying payments before becoming eligible.
What Impacts How Affordable an Online Psychology Master’s Is?
Many factors affect the final price tag of your online psychology master’s degree and understanding each one can help you save thousands of dollars by the time you graduate. This section examines some of the common areas where costs can expand or contract based on your decisions.
Public Vs. Private
The Education Data Initiative reported that students attending public schools in their home state in 2022 paid an average tuition of $9,580. That number rose substantially to $37,200 for learners enrolled at private schools.
Out-of-State vs. In-state
Even if you attend a public college or university, residency status can make a big difference. In-state tuition averaged $9,580 during the 2020-2021 school year while out-of-state students paid an average of $27,437 for the same education.
Online Student Tuition Rates
In some cases, colleges provide discounted tuition rates for online students to incentivize their enrollment. Private schools may offer a reduced tuition rate as compared to campus-based learning, while public schools may let all students, regardless of where they live, pay the in-state rate.
School-Based Scholarships
Many psychology departments provide degree-specific awards and scholarships for students pursuing Master in Psychology degrees. At Nova Southeastern University in Florida, for example, there are various awards available only within the College of Psychology. Some are awarded based on grades, while others focus on financial need.
Miscellaneous Fees
Online students typically pay less in associated fees since they avoid those associated with in-person learning. Distance learning doesn’t require a parking pass or access to the student center gym, for example. Online students should, however, look out for fees related to technology, digital education, and student services as these can quickly add up.