Online Is a Better Value
When the Internet was invented as a means of quickly accessed information for the military, few imagined it would become a powerful educational tool for the masses. And even fewer, if any, imagined that it would open the doors to higher learning as it has. There are now literally hundreds of universities, colleges, and trade schools online, along with many traditional universities offering coursework online. Never has there been more choice for furthering your education.
But with such freedom comes the question, which is the better value for your money?
Higher Education at a Lower Cost
The greatest difference between online learning and that of traditional education can be found in one important place: your savings account. But it isn't universally true. While it isn't the norm, tuition for some online schools is as costly as at traditional universities. But even with those online schools that tend to be pricey, there is still a financial benefit associated with the indirect costs, like room & board or travel, which are unnecessary with an online education.
The figures that follow are the estimated annual costs of tuition across the strata of schools, as compiled by the College Board for the '08-'09. These stats don't include room & board:
- $4,552 - Community College
- $17,336 - In-State University
- $35,374 - Private University
Why have we not included an average for online educational costs? The range of costs are so dramatic, to be honest, that an average of them would not help you assess the benefits on the whole. Nonetheless, the deciding factor when considering the expense of online education compared to traditional higher education is the hidden costs. These are almost entirely absent from the cost of an online education:
- Travel Costs - From the cost of gasoline to wear and tear on your car, travel costs to and fro from your home to your school, all of these can really add up. Studying from home saves hundreds, potentially thousands, each year. Other than tuition and some possible additional fees, online education usually only requires an Internet connection and a personal computer.
- Time Costs - For professionals out to further their careers through education, missing work to attend classes would be a cost that can usually be avoided with an online education. And because of the flexibility of online programs, most students complete their degrees more quickly than in traditional settings, so they see their incomes increase more quickly on average.
- Books & Materials - In online education, books and materials are things of the past - and so are the expense. Sources of information will be almost exclusively electronic, and they need not be purchased - a definite savings to the student.
- Room & Board - Much of the cost of a traditional higher education, sometimes more than half, is housing and food. This is actually a major source of income for many colleges and universities. Online learning doesn't necessitate additional rents, furniture, or moving costs.
Is the Quality of Online Education On Par?
What employer looks down his nose at a traditional college- or university-earned degree? Some are better than others, to be sure, so the question becomes a matter of demonstrating the reputation of online education. The newcomer often has to prove itself. But education online holds its own admirably.
Newcomer though it is, online education has improved in quality greatly in recent years. Many online schools are on par with those of traditional colleges and universities.
Studies have shown that students taking classes online retain information just as well as traditional students. While interest and demand have motivated nearly all traditional universities to offer courses online, if they thought it was doing students a disservice, they would not only NOT offer online courses, they would decry the practice. Companies have also started to take advantage of an online education offerings. Why? Because they can economically enhance their workforce without negatively affecting productivity or their bottom line.
