If you’re thinking about going back to school for an advanced degree, you may be concerned with two main factors—first, how to finance it; and second, how to balance classes with work, family, and other commitments. An online graduate degree can often be a great solution for those in this situation. By pursuing an online degree, you can continue to hold a job while simultaneously attending classes, decreasing your debt load after you graduate. Online graduate degrees are also typically less costly than their on-campus counterparts. Keep reading to learn about the benefits of online degrees, and the financing options that may be available to you.

The benefits of online graduate degree programs

Online education is becoming more and more popular as a way to advance career opportunities and personal growth. According to research firm McKinsey & Company, between 2012 and 2019, the number of hybrid and distance-only students at traditional universities increased by 36 percent. Then, in 2020, the circumstances of the COVID-19 pandemic rapidly accelerated that growth by an additional 92 percent. Some of the reasons returning students are choosing online graduate degrees include:

  • Affordability. At many schools, an online program costs less than the on-campus version of the same program. Even in instances where this isn’t the case, online learning can save you money in other ways, like travel and parking fees.

 

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