Looking for Affordable College Degrees Online? Here are 5 Ways You Can Reduce the Cost

Looking for Affordable College Degrees Online? Here are 5 Ways You Can Reduce the Cost

Looking for affordable college degrees online?

If you are, you’ll be surprised.

You’ll find that a ton of online college degrees cost the same as the traditional on-campus experience. It’s not clear why, but here are three possibilities:

  • Colleges are wary a cheaper online degree will mean fewer students enroll for on-campus classes.
  • Since online students get the same quality of education as on-campus students, educators believe their tuition shouldn’t be less.
  • Colleges are looking to make larger profit from low-cost but high tuition online courses.

If you’re feeling discouraged because of the high online tuition fees you’re seeing, read on. In this post, we’ll show you how to get the cheapest online bachelor’s degree. We will also show you cost-effective accredited online colleges and reveal tips on how to earn college credits with less student loan debt.

affordable college degrees online

Affordable Online College Degrees: How to Get Quality Education without Spending a Ton of Money

The traditional college experience is costly.

For instance, if you choose to go to a private college, you’ll spend an average of $36,801. If you go to a ranked private college, you’ll end up spending up to $50,000!

But you don’t have to shell out even half these costs to get quality education. Here are five affordable online colleges you can choose from.

University of South Florida, Sarasota

Besides their on-campus courses, the University of South Florida offers various online classes. Its tuition is highly affordable: $4,705. What’s more, 80% of its students receive financial aid.

The college covers more than 40 undergraduate programs including cybersecurity, education, information technology, and criminal justice.

Peirce College, Pennsylvania

Peirce College has been around since 1865. Back then, it was a college dedicated to Civil War Veterans.

Today, it has a plethora of courses you can enjoy for a tuition fee of $6,395. You can choose from a bachelor’s degree, associate’s degree, online courses, and certification classes.

Oklahoma State University, Oklahoma

Oklahoma State University has over 25,000 students in its 6 schools. As an enrollee, you can choose either on-campus classes or distance learning.

The benefit of distance learning is flexibility. You can easily work while studying, which is why more than half of the school’s graduates earn their degree without debt. This is noteworthy, with 70% of college students graduating with heavy loads of student loan debt.

Its tuition fee costs $6,707, and you can apply for the school’s in-house financial aid and scholarships.

Indiana University, Indianapolis

Indiana University is huge, with over 110,000 students across 7 regional colleges and 2 main campuses.

Their online program is also large: you can select from 135 different degrees. Some of these degrees can be earned entirely online, while others require visits to a campus.

Tuition is at $9,371. However, the school has a program called SmartMoney. This program helps you manage debt, get financial aid, and minimize your overall costs.

Florida Atlantic University, Boca Raton

Florida Atlantic University has a population of 30,000 each year. It offers 170 different degrees that you can choose to study online.

What courses can you study at Florida Atlantic University? Four popular fields include data science, marketing, geoscience, and nursing.

If you’re interested, you can also take online minors at the university. Some of these include anthropology, hospitality, and political science.

3 Reasons Earning a Degree Online Saves Money

Learning online can be cheaper because schools offering online programs face less cost.

For instance, a study shows that per credit hour, online classes are cheaper by $12 to $66 than regular classes. This is because affordable college degrees online can increase the student-to-teacher ratio and avoid the additional expenses tied with regular class operations.

Of course, this depends on whether the schools pass the savings along to the students instead of making more profit.

But if you study online with a school that does, you can save up to 50% on the average cost per credit hour of college.

Here are 3 other ways you can save money by choosing to study online.

1. You Skip the Hefty Room and Board Payments

For room and board at a private college, you’ll spend as much as $12,680. That’s a huge sum to add to your tuition, books, and other expenses.

If you want to cut down on this expense, why not choose an affordable college degrees online? If you’re still living at home, this alone can help you avoid student loan debt.

Also, studying online while living at home gives you the freedom to attend the college of your choice without having to relocate.

2. You Eliminate the Need for Daycare or Babysitters

Going to college while raising children isn’t uncommon. One in five college students are parents of young kids.

If you’re a college student and parent, you’re a fighter because you continue pursuing your education despite the difficulties. But it isn’t easy.

One problem you face is the expense of supporting yourself in college while raising your child. For example, you need to consider daycare or hiring a sitter to take care of your child while you attend classes.

How much does this cost?

According to Indeed, the average salary of a sitter or nanny is $16.54 per hour. If you take your child to a daycare center, you’ll spend an average yearly price of $11,896 for infants, $10,158 for toddlers, and $9,254 for four-year-olds.

This doesn’t include additional expenses such as supply fees and diaper changes!

Multiply this expense by 4 or 6 years, and you’ll have a large sum sitting on your shoulders.

If it’s too much, why not take care of your child while pursuing your degree? Earning college credits online gives you the flexibility to do so.

3. You Can Save on Commute and Other Expenses

The average college student spends $2,806 on transportation.

And there are other expenses. For instance, college students spend an average of $53.34 on college-branded gear, $653 on sports clubs, $3,497 on academic books, and $4,097 on eating out or takeout meals.

All these expenses can be eliminated when you earn college credits online.

How to Bring College Costs Even Lower with Credit-by-Exam

Right now, you’re equipped with options to save a ton of money by skipping the “typical” college process.

But there’s a way to save even more on college costs.

The answer is credit-by-exam.

What is Credit-by-Exam?

Credit-by-exam is a nationally recognized process that allows you to pass one exam and earn the equivalent college course credits.

One of these exams can give you 3 credits (enough to skip a whole college course). When you take credit-by-exam, you reduce your total coursework load, non-coursework expenses, and time required to earn college credits.

What are the Popular Credit-by-Exams You Can Take?

Three excellent credit-by-exam programs are College Level Examination Program (CLEP), DANTES Subject Standardized Test (DSST), and UExcel.

  • CLEP provides exams on 36 subject areas. These subjects are generally taught in junior and sophomore college years and include humanities, American Literature, English Literature, College Composition, and various language subjects. CLEP credits are accepted in over 2,900 colleges.
  • DSST credits are accepted in 1,900 colleges across the country. These exams also cover first and second-year subjects like business, advanced biology, and composition.
  • UExcel is a credit-by-exam program offered by Excelsior College. It offers exams on science, technology, business, liberal arts, and more.

Credit-by-Exam vs. Taking a College Course

Below are reasons to take credit-by-exam instead of signing up for a college course.

  • You’ll save time. A college course takes a whole semester to complete. With credit-by-exam, you can earn the same 3 credits in one sitting.
  • You’ll save money. A college course at a private college can cost as much as $900. On the other hand, credit-by-exams cost $85 each for CLEP and DSST and $110 for UExcel.
  • You’ll graduate sooner. In a hurry to finish school and start earning a living? Credit-by-exam can remove a whole year from your college life.

How to Reduce Costs While Earning Your Degree

College is not cheap. It’s so expensive that student loan debt is next only to housing debt in America.

But that doesn’t mean you should give up on your goal of getting a degree. All you need is to think out of the box with solutions like online classes and credit-by-exam.

Would you like to start earning college credits with less coursework? Get started today by, click here and tell us about your college goals.

affordable college degrees online
Everything You Need to Consider About Student Loan Debt

Everything You Need to Consider About Student Loan Debt

Student loan debt is a huge issue in the U.S. today. In fact, it’s grown so big (more than 7% of our GDP!) it’s even affecting important life aspects like business ventures, retirement, and even marriage! 

Let’s face it. College is expensive. To complete your degree, you need to deal with the rising tuition costs, board, transportation, and books. 

But you keep going because you know earning a degree is essential. It will not only give you an opportunity to get a high-paying job, it’ll also help you develop your natural talents. It’ll open the door to opportunities for networking. 

But before you start earning a living after school, you need to find ways to fund your personal expenses and cost of living.

So you take out a student loan. While this solves the immediate need for cash, it comes with considerations you need to weigh carefully. For instance, how much can you afford to borrow? Will you be able to pay back your debt once you graduate from college? 

If these are questions you’re asking, you’ve come to the right place. In this article, we explore the considerations you need to make before taking out a student loan. We go over the common problems students face when dealing with loans. Also, we tackle ways you can rise over the challenges and start your career after college with less debt and more freedom. 

Let’s dive in!

The Problem of Student Loan Debt 

The problem of student loan debt is reaching a crisis. In fact, student loans are so big they are next only to home loans in the U.S. Both federal and private student loans are at approximately $1.4 trillion, setting a record for the highest these loans have ever been. 

Student loans help students cover the rising costs of higher education. But is it best option when considering your long-term financial health? Families encourage young people to borrow because they have their eyes on the benefits of earning a degree. For example, as a college graduate, you’ll earn $1.3 million more than a non-college graduate over your lifetime. 

The problem arises when you aren’t able to pay back your loans. You might think it’ll be easy to pay off your loans once you graduate and start earning. But this isn’t the case. In fact, the problem of student loan repayment and bad debt hound millions of Americans of different ages. For example, people in their 30s struggle with unpaid student loans averaging $40,476.

It’s difficult to deal with, especially when it’s coupled with inflation and the expenses of day-to-day life. Besides these, there are other factors that make paying student loan debt back even more difficult. Here are three of them.



1. Failure to Graduate

Entering college doesn’t ensure you’ll earn your degree. In fact, only 41% of students graduate in four years. That leaves 59% who drop out or get stuck on their road to earning a degree. 

If you’ve already accumulated large student loans, failure to graduate puts you in a bad position. This is because it’ll be difficult for you to enter companies that require degrees for high-paying jobs. As a low-level earner, paying off tens of thousands in student loan debt will be next to impossible. 

2. Not Graduating on Time

As mentioned, most students do not graduate in four years. While there are dropouts who never graduate at all, there are also students who take five or six years to complete their course work. 

While it’s always a reason to celebrate when you graduate, not completing your courses in four years can be problematic for you. This is because the longer you stay in college, the higher your expenses will rise. Before you know it, you’ll find yourself needing to re-loan just to keep yourself in school.

3. The Rise of College Costs

College is not getting cheaper with time. In fact, prices have risen incredibly fast in recent years. For instance, in 20 years, the cost for private national universities has risen by 154%. In-state public universities are also more expensive – by 221%!

College is not getting cheaper!

Because paying off student loan debt is so difficult, it’s crucial to consider important factors before applying for a loan. 



Four Factors to Consider Before Getting a Student Loan

Depending on how you manage it, a student loan can be either your downfall or the reason you graduate. Here is a list of factors that’ll help you make the right decisions as you map your way towards graduation.

The Price: Know How Much You Can Actually Afford

It’s not enough to take on a student loan and hope you’ll eventually be able to pay it off once you start working. You need to make a detailed plan on how you’re going to pay the loan back. 

Start by creating a payment plan. First, find out exactly how much you’ll owe in student debt loans once you graduate. Be sure to factor in interest rates and tax advantages. Divide the amount per month and then determine how much salary you’ll expect to earn. When you’ve done this, you’ll have an idea of exactly how much you can afford in student loans.

Interest Rates: Calculate the Costs

The problem with many students is they don’t factor in interest rates when calculating their student loan debt. When you don’t pay attention to this detail, you’ll find yourself in deep water in the future as you face higher bills than you expected.

To counter this problem, make sure you know how much you’ll be paying in interest throughout the years. This varies depending on the kind of loan you choose. For instance, federal loans offer you smaller interest rates than private loans.

The Rules of Student Loans: Understand the Basics

Student loans are different from other types of loans in that they’re almost impossible to get rid of. For example, a student loan is different from regular loans because it’s next to impossible to get rid of it through declaring bankruptcy. 

Your Life Goals: Reflect on What’s Important to You

Maybe you plan on attending a college you’ve always dreamed of going to. However, tuition is pricey and you’ll need a large loan to be able to take classes there. Do you go ahead and get the loan simply because you’ve always wanted to go to that particular college?



The answer is yes, if you can pay the loan off in the right timeframe. For instance, if you’re able to pay the loan off within a few years of graduation, go ahead and apply for it. 

However, being stuck with a loan for a long time can hurt other aspects of your life. It’s a good idea to pay off student loans as quickly as you can. This is because having large debt can hurt your chances of starting up your own business. It can make you postpone marriage. It can even delay your retirement savings and investments. 

So before you go into debt, explore every angle for reducing your student loans.

How to Graduate College with Less Student Loan Debt

If you’re like 70% of students, you need a student loan to get you to graduation. However, a loan isn’t always a bad thing. When you follow these guidelines, it’ll be easier for you to pay off your loans after you graduate.

Stick to a Budget

Once you get your loan, you’ll be tempted to think it’ll last you until graduation. However, college costs are higher than you expect at first. It’s not only tuition. It’s also room and board, your personal expenses, books, transportation, and the cost of materials for projects.To know what to expect, make a reasonable budget and stick to it. List all of your expenses and add the total. This will help you determine how much you can spend per month in college.

Consider Community College for Your First Two Years

You don’t need to declare your major or choose a college until after your sophomore year. Because of this, consider community college as a way to cover your core subjects in an affordable way. You’ll be surprised to find you can save up to 90% on costs by attending community college before transferring your credits to a college of your choice.

Know the Benefits of Credit-by-Exam

Another option you have that’ll significantly lower your debt when you graduate is credit-by-exam. Credit-by-exam is an innovative way to pass exams for college credits.

For instance, there’s CLEP. When you pass a CLEP exam, you earn credits without having to enroll in a course and sit through it for a whole semester. You don’t have to worry about exams, projects, or attending lectures. 

But taking a CLEP exam isn’t only about saving time. You can also save money when you decide on this option. Take a moment to consider it. How much does an average college course cost? If you go to a private college, you can end up spending around $900 for a whole course.  

On the other hand, when you take a CLEP exam, you only need to spend $85 for three credits. That’s more than $800 in savings. More importantly, you reduce your need for student loans!


 Interested in taking credit-by-exam? Achieve can help you determine your chances of passing and give you guidance that’ll increase your chances of earning those college credits quickly and affordably.


How to Graduate College with Less Student Loan Debt

The benefits of graduating are undeniable. However, getting from where you are now to graduation day is a challenging, unpredictable journey. Because of the rising expenses of going to college, you can find yourself neck-deep in debt by the time you finish.The secret is to be innovative in your approach to college. Find ways that’ll significantly lower your expenses. For instance, combining community college with credit-by-exam are two proven and tested ways to cut a huge chunk out of your student loan debt.

If you’re not sure about where to start in making your roadmap towards graduation, talk to one of our Advisors at Achieve. We offer credit-by-exam guidance, and a library of helpful hints you can use to ensure you earn credits the innovative way.

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