Online degrees offer several advantages. These include flexibility, cost, and return on investment. Despite the benefits of online degrees, many people prefer traditional brick and mortar schools. In this article, we will discuss the pros and cons of online degrees. You can make your own decision on whether or not online courses are right for you.
Contents
- 1 Employers Prefer Brick-And-Mortar Schools
- 2 The Problem of Accountability
- 3 Online Degrees and Traditional Degrees have the Same Academic Quality
- 4 About 60% of HR Leaders Regards Believe Online Education Highly
- 5 Flexibility Of Online Degrees
- 6 Cost Of Online Degrees
- 7 Cost of Online Master’s Degree
- 8 Return On Investment Of Online Degrees
- 9 Online Degrees Are Suited for Remote Students
- 10 How to Consider Return on Investment
Employers Prefer Brick-And-Mortar Schools
Despite the growing acceptance of online degrees, some employers still prefer brick-and-mortar schools. According to the Department of Education, an accredited institution will give an online degree greater credibility.
In addition to accreditation, employers look for data regarding the school’s graduates. If you’re considering an online degree, you can check out NerdWallet’s online school comparison tool to find out which schools have the best reputations.
While employers have become more accepting of online degrees, there’s still a stigma associated with some careers.
Despite the fact that online degree programs are increasingly common, some employers still shy away from hiring people with only an online degree, particularly for higher-level positions such as executive positions. In this case, it’s important to note that many brick-and-mortar schools offer online classes and programs.
The Problem of Accountability
One big challenge that online students face is the lack of accountability, which often compromises their ability to complete their degree program.
While employers recognize these challenges, online graduates are seen as having superior time management skills, initiative, and motivation, and are well-versed in technology. This is an advantage for students seeking to land jobs with well-established businesses.
Online Degrees and Traditional Degrees have the Same Academic Quality
In terms of academic quality, an online degree can be as good or better than a traditional degree. The technology involved in online courses allows for more innovative teaching methods that are becoming more common.
These benefits are reflected in a higher acceptance rate by employers. The flexibility of online learning may also appeal to people who are budget-conscious. For example, the cost of meals, parking, lab fees, and other facilities are not an issue if you study online.
Some students worry that their online degrees will not be as valuable as a traditional degree. Nevertheless, many of them still want to pursue a higher position and get a promotion in the future.
About 60% of HR Leaders Regards Believe Online Education Highly
Although many students worry about the perception of online degrees as inferior to brick-and-mortar schools, research shows that nearly 60% of HR leaders believe online education is equal to or better than traditional degrees.
While online education is gaining ground, it’s still not fully mainstream. Today, many well-known colleges and universities offer online degrees and remote learning for certification programs. Online degrees are now accepted by more employers than in the past, and many online schools have improved the technology and delivery of their courses.
Flexibility Of Online Degrees
Online degrees allow students to complete their education at their own pace and at a convenient location. Many programs are accessible 24 hours a day, seven days a week.
Students can study full time or part time, or take several courses per semester. Online degrees also provide convenience for students with family and job responsibilities.
The flexibility of online degrees is one of the primary benefits of the programs. Students can enroll part time, which allows them to spend more time with their families and careers.
This is especially convenient for parents with young children. The flexibility of online classes allows them to fit their studies around other obligations, including taking care of younger children.
Online degrees provide flexibility for those who work in the education field, but cannot afford to take two years off to complete their graduate degrees.
Most school districts require teachers to have a master’s degree within the first few years of their career, and they are often required to work long hours. Online degrees can help teachers fit graduate studies into their busy schedules.
Cost Of Online Degrees
The cost of an online degree can vary a great deal. Tuition is one of the largest expenses associated with earning an online degree, and it tends to go up year after year. However, online degrees can still be quite affordable. According to Sallie Mae, the cost of an average master’s degree is around $48,000.
Nevertheless, the cost of a master’s degree can vary greatly, depending on the program and school. For example, an MBA program will generally cost much more than other master’s degrees. And if the school you’re considering is part of the prestigious Ivy League, you can expect to pay substantially more than any other school.
Another aspect of an online degree that contributes to its affordability is the fact that students can save on expenses related to living on campus. On-campus students have to pay for a variety of expenses, including books, supplies, and health services. Students can also save on transportation expenses since there’s no commute required. Moreover, online students can access classes any time of the day or night.
Cost of Online Master’s Degree
The cost of an online master’s degree program is approximately $29,000 for universities that don’t charge for out-of-state fees. On the other hand, the cost of an online bachelor’s degree program is roughly $85,000.
Most online schools do not charge out-of-state fees and tuition for out-of-state students. Online students can attend classes at their convenience, and they don’t need to pay for housing or travel expenses.
The cost of an online master’s degree program varies by state and subject. Tuition is usually the most expensive part of an online master’s degree program, but there may be other expenses as well. In general, tuition costs are much lower at for-profit universities and colleges compared to public colleges.
Online degrees are becoming more popular among traditional residential colleges. Today, more than 30% of colleges offer some online courses. And more than one-third of all students take at least some of their courses online.
Return On Investment Of Online Degrees
When evaluating the ROI of online degrees, it is important to consider the cost of tuition and the benefits of earning a degree from an accredited institution.
ROI can be estimated using survey data. For example, public institutions are more likely to yield positive ROI, while private nonprofit institutions and for-profit colleges are less likely to yield positive ROI. However, a higher tuition rate is one contributing factor to poor ROI metrics.
While professional degrees have the highest ROI, they are not necessarily the most affordable. For example, a master’s degree is just one to two years, whereas a doctorate takes three to five years. A PhD in physical therapy, for example, is likely to yield a positive ROI. However, law school is expensive and requires a three-year commitment. Despite the cost, 93 percent of law programs yield a positive ROI, and only 24 percent are negative.
Online Degrees Are Suited for Remote Students
For students living in far-flung areas, online programs may provide a valuable return on investment. The University of Southern New Hampshire University offers more than 200 accredited online degrees, enabling students to obtain a degree faster.
The University is also a great option for out-of-state students who are seeking a master’s degree, which they can complete from the comfort of their own home.
How to Consider Return on Investment
There are several factors to consider when determining the ROI of an online degree. For example, the costs of tuition can vary significantly between programs.
The University of Virginia’s online degree program costs $14,640 per year, while Northeastern University’s virtual degree costs $16,230. Other institutions that offer distance learning programs include Capella University and Excelsior College.
Another important factor is the completion rate of the online program. Graduate students generally complete their degree faster than undergraduates.
This means that their ROI is lower than those of undergraduate students. This is because graduates of a graduate program often need extensive prior experience. If they don’t have that experience, they are unlikely to find employment in that field.
There are no definitive statistics that show what the average salary after a college degree is. It depends on the type of degree, the location and the previous experience. Nevertheless, it is possible to find average ROI and mean annual salaries of a certain career field.