Key Information:
- Fields such as Computer Science, Business Administration, and Engineering offer online degrees with strong return on investment due to high potential salaries after graduation.
- There is a diverse range of affordable online bachelor’s programs available across many fields, ensuring that students can find a program that fits their career goals and budget.
- Online degrees offer flexibility and are often less expensive than traditional programs, saving costs on things like commuting and campus fees.
A college education can be expensive, especially if you get an advanced degree. Fortunately, many affordable bachelor’s degrees prepare you for high-paying jobs that don’t require a master’s degree or above.
Moreover, many budget-friendly online degree programs offer plenty of other features. These include flexibility, accelerated coursework, and a diverse range of majors to choose from. The question is, which majors have the highest upside in terms of return on investment? This guide explores these and other critical questions to consider when planning your academic future.
Related:
- Is an Accelerated Degree Worth It?
- The Value of Accelerated Bachelor’s Degrees for High School Students
- How to Maximize Career Impact With An Accelerated Degree
Why Choose an Online Bachelor’s Degree?
A big reason to get an online bachelor’s degree is the level of flexibility online learning provides. Rather than going to on-campus classes at specific times, online degrees allow you to complete your work as your schedule allows. You can work, take care of family responsibilities, and the like, with less concern about your real life getting in the way of your studies.
Online learning is also extremely convenient. You can complete assignments from anywhere in the world, so long as you have an internet connection. Do your schoolwork from home, on your lunch break at your job, while you’re on vacation, and so forth.
Other advantages of online learning include the following:
- Lower costs: Many online bachelor’s degrees are less expensive than their on-campus counterparts. Some online programs charge in-state tuition regardless of residency status, and there are no commuting costs (e.g., gas, parking). Some schools also waive certain fees for online students, such as those for student activities.
- Added technology skills: You have to be tech savvy to learn online — a hard skill that’s applicable in virtually any job setting.
- Improved time management: Without set class meeting times, online learning forces you to become a taskmaster. Time management is a valued soft skill employers want!
- Accelerate your degree: Some schools offer accelerated degrees that allow you to finish in less than four-years. Typically, fast online bachelor’s degrees can be completed in three to three-and-a-half years.
Choosing an online bachelor’s degree is also easy — they’re ubiquitous across institutions and majors. With many options from schools large and small, you can tailor your online learning experience to your goals and objectives.
Key Factors in Choosing an Affordable Online Degree
Choosing among the best online bachelor’s degrees requires you to evaluate each program with a critical eye. Cost is the most important factor for most students, but other program features should be considered when making a final decision.
Affordability
Getting the most value from your education means understanding the costs of getting an online degree. Common costs include:
- Tuition
- University fees (e.g., technology fees, activity fees)
- Course fees (e.g., lab fees)
- Books and supplies
- Application fees
The biggest cost-related factor is tuition, and it varies widely from one school to the next. According to the Education Data Initiative, public college tuition averages just under $10,000 per year for in-state students and around $27,100 per year for out-of-state students. Compare that with private college tuition and fees, which average nearly $38,800 per year.
The affordability of an online bachelor’s degree also depends on the available financial aid packages. For example, School A might offer you a $2,500 per year scholarship to be used to pay for tuition and fees, while School B might offer you just $1,000. Different colleges and universities might have different scholarships, grants, and other opportunities to reduce your costs, too.
Program Duration
The duration of the program also impacts its overall cost. Though most bachelor’s degrees take four years to finish, the number of credits can vary. So, a 120-credit program would be less expensive than a 124-credit program, assuming both schools charge on a per-credit basis.
Besides, focusing on accelerated online degrees means you can finish your degree faster and begin your career in earnest more quickly. This, in turn, allows you to begin making a full salary sooner. With the potential to begin earning more money more quickly, combined with prioritizing cost-effective programs, you can significantly reduce the financial impact of your studies.
Salary Potential
The expected online degree ROI varies widely, as demonstrated by the following information from the Education Data Initiative:
Major | ROI |
Computer & Information Science | 716.6% |
Business Finance | 710.2% |
Business Accounting | 547.2% |
Electrical Engineering | 517.8% |
Consumer Science & Home Economics | -70.6% |
Fine Arts | -67.5% |
General Studies/Liberal Arts | -66.4% |
Education | -45% |
While money isn’t everything, you want to ensure your college degree gives you solid earnings prospects upon graduation. Make the time and expense of getting an education worth it!
Accreditation
Another factor to consider in your online degree search is accreditation. Accredited online bachelor’s programs can have varying types of accreditation. On the one hand, institutional accreditation is a process of quality assurance that colleges and universities voluntarily undertake. The gold standard for accreditation is regional accreditation, which is offered by a number of accrediting bodies across the U.S.
On the other hand, programmatic accreditation can also be important. For example, Bachelor of Social Work programs should be accredited by the Council on Social Work Education (CSWE). This type of accreditation ensures the curricular activities you complete align with important career-related competencies.
Top Affordable Online Bachelor’s Degrees with High Salary Potential
As noted earlier, many bachelor’s degree programs are available online that lead to good-paying jobs. These high-salary online degrees are extremely common, too — you are likely to find these programs offered by most colleges and universities nationwide. Get more details below, including salary potential reported by ZipRecruiter.
Online Computer Science Degree Programs
Computer science programs focus on software development, cybersecurity, and data science, to name a few popular concentrations. Top affordable online computer science degree programs are available from Brigham Young University-Idaho, the University of Florida, and Fort Hays State University, to name a few.
Average yearly salary: $66,180
Online Business Administration Degree Programs
Business administration has long been a popular undergraduate major. With options in management, finance, and entrepreneurship, you can tailor your degree to the specific field of business that interests you most. Top online business programs are available at schools like the University of Michigan-Flint, the University of Georgia, and Indiana University.
Average yearly salary: $69,117
Online Nursing Degree Programs
A worthwhile option for nurses is to enroll in an RN to BSN program. These degrees allow you to transition from an associate-level RN to a BSN, thereby qualifying you for better-paying nursing positions. Big-name schools are at the top of our list of the best online nursing programs, including Ohio State University, George Washington University, and Saint Louis University.
Average yearly salary: $44,867
Online Engineering Degree Programs
Engineering degrees focus on varying topics, from electrical to mechanical to industrial. Environmental, civil, and software engineering are further options. Explore top online engineering programs from Embry-Riddle Aeronautical University, Arizona State University, Old Dominion University, and others to see which one is the best fit for you.
Average yearly salary: $102,878 (mechanical engineering)
Online IT Degree Programs
Another broad undergraduate major that’s common online is information technology. From cloud computing to web design and development to network administration, you can specialize in any number of very high-demand fields. Schools like the University of Florida, Oregon State University, and Florida State University get high marks for their IT programs.
Average yearly salary: $91,390 (information technology networking)
Online Healthcare Administration Degree Programs
As a healthcare administrator, you’re tasked with the smooth operation and management of healthcare facilities. Healthcare administrators must be extremely familiar with healthcare laws, privacy laws, and have an ability to manage complex teams, among other vital skills. Many online business programs offer specializations in healthcare administration, such as American Intercontinental University and Berkeley College, both of which are on our list of the top 10 online business bachelor’s degree programs.
Average yearly salary: $94,295
Online Marketing Degree Programs
Marketing provides an important function for businesses and organizations of all sizes and types. With an online degree in marketing, you can learn about consumer behavior, digital marketing, market analysis, and other key topics that will help you start a high-paying career after you graduate. Schools like New Mexico Highlands University, Brigham Young University, and the University of Texas of the Permian Basin offer business degrees with integrated marketing coursework.
Average yearly salary: $67,990
Online Accounting Degree Programs
Undergraduate accounting programs prepare you for work in tax accounting and corporate accounting, and also prepare you to sit for the Certified Public Accountant (CPA) exam. Though this is a high-income potential job, you can get a cheap bachelor’s in accounting at schools like Brigham Young University-Provo, Harris-Stowe State University, and the University of Texas of the Permian Basin, to name a few.
Average yearly salary: $95,659