A graduate degree has the power to help you advance your career. Holding a Master of Arts, Science or Business Administration can be the key to getting that big promotion, increasing your earning potential, or moving into upper-level management. However, that extra degree also requires a major financial investment. At pricy schools, students can easily spend tens of thousands of dollars a year – upwards of a hundred thousand dollars total by the time they complete the program – earning a graduate degree.
By instead looking for online schools that offer a better value, students can get an equally high-quality education from an accredited institution for a fraction of the cost. Where can you go for an affordable master’s-level education? Check out our list of the top 25 cheapest online master’s degree programs. In addition to offering an excellent education at an affordable price, every one of these schools is regionally accredited, which means that it meets the high standards required by the relevant accrediting agency. Accreditation means that you know your school is providing you with a real, valuable education, not just a piece of paper.
1. Graceland University
If your academic interests lie in the field of education, the most affordable college on this list might be especially appealing to you. Graceland University offers 10 master’s degree programs online, including:
- Master of Education in Curriculum and Instruction
- Master of Education in Differentiated Instruction
- Master of Education in Literacy Instruction
- Master of Education in Management of the Quality Classroom
- Master of Education in Mild/Moderate Special Education
- Master of Education in Technology Integration
- Master of Education in Instructional Leadership
- Master of Science in Nursing – RN to MSN
- Master of Nursing
- Master of Arts in Religion
As you can see, the school’s graduate programs are largely master of education degrees, but the small private institution also offers degrees for nurses and for students with a focus in religion. U.S. News has ranked Graceland University fifth among the Best Online Graduate Education Programs in the country. The most affordable program, Master of Arts in Religion, costs just $240 per semester hour, while online graduate programs in education cost around $450 per semester hour.
Cost: $240 per semester hour, or $4,320 per year of full-time study
Regional Accreditation: The Higher Learning Commission of the North Central Association of Colleges and Schools
2. Winston-Salem State University
Winston-Salem State University offers two fully online graduate degree programs, the Master of Science in Rehabilitation Counseling and the Master of Science in Nursing Degree Advanced Nurse Educator (ANE) Concentration. The school is well-ranked by publications such as U.S. News & World Report, which awarded it the following achievements:
- Tied for 25th place among the Top Public Schools
- 60th place among all Regional Universities
- 58th place among all Graduate Rehabilitation Counseling programs
- 100th place among all Graduate Occupational Therapy programs
Though these are distance-learning programs, the cost differs for in-state and out-of-state students. Courses in the completely online Master of Science Nurse Practitioner/Occupational Therapy programs run about $255.93 per credit for in-state students and $695.10 for out-of-state students – still a bargain, considering that nurse practitioner programs cost between $35,000 and $60,000 on average, according to U.S. News & World Report.
Cost: $256 per credit in-state, or $4,608 per year of full-time study
Regional Accreditation: Southern Association of Colleges and Schools
3. Western Governors University
Western Governors University isn’t just a great value, but also an institution where online students can expect a relatively high level of support. In addition to an online library where distance learning students can complete their research work anytime from anywhere, the school also provides online communities, including mentors, to help students get the most out of their academic experience.
Instead of pricing programs per course, Western Governors University calculates cost per term. Graduate teaching programs and information technology (IT) programs cost just $2,890 per term. Even the more costly Master of Science in Nursing program and graduate-level business programs cost a reasonable $3,250 per term. The school is an excellent choice for experienced professionals, especially, because it offers competency-based units that give credit to students for the real-world knowledge they already have.
Cost: $2,890 per term, or $5,780 per year of full-time study
Regional Accreditation: The Northwest Commission on Colleges and Universities
4. Capella University
Whether you’re interested in business or public service, healthcare or education, Capella University has a graduate degree program for you. The school offers more than 70 different master’s degree programs for current and aspiring nurses, teachers, mental health providers, businesspeople, technology specialists and professionals in other fields. When it comes to MBA programs alone, Capella University offers a dozen different degree paths, so that you can focus on the aspect of business and technology that’s most relevant to you.
At Capella you won’t feel like an outsider at an institution that caters to undergrads. You also won’t have to waste time and money rehashing the things you already know. Capella offers competency-based courses in which experienced professionals get credit for the knowledge and skills they already have. Keep in mind that some programs are more affordable than others, with the cost per credit ranging from $387 to $737, but even the most expensive program still works out to a very reasonable $13,266 for a year of full-time study.
Cost: http://www.capella.edu/tuition-financial-aid/tuition-fees/
Regional Accreditation: Capella University is accredited by the Higher Learning Commission. The Higher Learning Commission is among the 6 regional accrediting bodies recognized by the U.S. Department of Education.
5. A.T. Still University
If healthcare is your intended field of study, why not consider a school that caters to the industry? A.T. Still University is renowned for being the first osteopathic medical school in the world, but the non-profit institution also offers several online master’s degree programs in the health sciences, including:
- Advanced Physician Assistant (APA)
- Master of Health Administration (MHA)
- Master of Public Health Policy (MPH)
- Master of Public Health – Dental Emphasis (MPH-DE)
- Master of Science in Kinesiology
- Master of Science in School Health Education
- Occupational Therapy (AMOT)
U.S. News & World Report ranked the school’s Mesa, Arizona, campus 40th among the best physician assistant graduate school programs and 116th among the best occupational therapy master’s programs.
The most affordable program, the Advanced Physician Assistant graduate program, cost just $390 per credit for the 2014-2015 school year. The Occupational Therapy master’s program cost $495 per credit.
Cost: $390 per credit, or $7,020 per year of full-time study
Regional Accreditation: The Higher Learning Commission of the North Central Association of Colleges and Schools
6. National University
National University offers more than three dozen fully online master’s degree programs in a wide variety of subjects from teaching to engineering and business to the humanities. Are you interested in criminal justice? What about creative writing, film studies, or digital cinema? National University’s graduate program offerings cover a wide range of subjects, so it’s a great school to consider if you know you want to earn a master’s degree in a niche subject like gerontology or performance psychology.
The school doesn’t distinguish course cost by program of study, so you don’t have to feel pressured to choose a different degree program because of the price.
Cost: $1,773 per 4.5 quarter unit course, or $7,092 per year of full-time study
Regional Association: Western Association of Schools and Colleges
7. University of Massachusetts Online
Another school with a lot of program offerings is the University of Massachusetts Online. The school has 34 fully online master’s degree programs in subjects from Criminal Justice to Critical and Creative Thinking. U.S. News & World Report has ranked the university (at its Amherst campus) 12th on its list of Best Online MBA Programs, 15th on the list of Best Online Graduate Nursing Programs and 78th on the list of Best Online Graduate Education Programs.
Most of these programs require 30 semester hours of study (to put that in perspective, a full year of three classes per term would equal 18 semester hours), but certain programs, like those in counseling, call for 60 hours. Master’s-level courses – not individual credits, but courses – at the University of Massachusetts Online cost between $1,230 and $2,250 depending on the program of study. One course in the Master’s Degree in Educational Administration program would cost $1,425 counting the registration fee, while one course in the MBA program is $1,830.
Cost: $1,230 per course, or $7,380 per year of full-time study
Regional Accreditation: New England Association of Schools and Colleges
8. Baker College
If you’re seeking a Master of Business Administration degree for a great value, consider Baker College. The non-profit school offers more than a dozen fully online graduate degree programs in disciplines like business and education. More than half of the online offerings are MBA degrees in specialties like accounting, finance, business intelligence, marketing and healthcare management. Online graduate courses cost $420 per credit regardless of program.
Baker calls itself a “career college” for its emphasis on preparing working students to advance in their careers. The school also offers its graduates Lifetime Employment Assistance to help them with networking, interview preparation and résumé writing at any stage of their professional lives.
Cost: $420 per credit hour, or $7,560 per year of full-time study
Regional Accreditation: The Higher Learning Commission of the North Central Association of Colleges and Schools
9. Saint Leo University
An excellent choice for both civilians and military personnel, Saint Leo University Online offers more than two dozen master’s degree programs in business, education, criminal justice, social work, theology, cyber security and instructional design. U.S. News & World Report has ranked the school 27th on its list of the Best Colleges for Veterans, 65th among the best regional universities in the nation and 99th on its list of the Best Online Graduate Education Programs.
Tuition costs vary by program. The most affordable master’s degree programs – those in education, social work and theology – cost just $436 per credit. The most expensive programs, like cyber security, cost $673 per credit, still a good value. If you are an active member of the United States military during your education, you can get a deep discount on sought-after degrees like MBAs and the Master of Accounting – shaving nearly $200 per credit or $600 per class off of the cost of your education.
Cost: $436 per credit, or $7,848 per year of full-time study
Regional Accreditation: Southern Association of Colleges and Schools
10. American InterContinental University
If you’re looking to advance your current career through education, American InterContinental University might be the right school for you. At this university that caters to busy, working professionals, students can choose from five different online-only degree options:
- Master of Accounting (MACC)
- Master of Business Administration (MBA)
- Master of Education (M.Ed.)
- Master of Healthcare Management (MHCM)
- Master of Information Technology (MIT)
Within the MBA, Information Technology and Master of Education degrees are specialized programs that allow students to choose a focus area to study in more depth. In every program, the courses are “career-focused” to get you ready for real-world success, not just academic achievement.
Master of Education programs are the most affordable at American InterContinental University, with a tuition price of just $442 per credit. Students in Master of Accounting, Master of Business Administration, Master of Healthcare Management and Master of Information Technology degree programs will pay about $582 per credit.
Cost: $442 per credit hour, or $7,956 per year of full-time study
Regional Accreditation: The Higher Learning Commission of the North Central Association of Colleges and Schools
11. California University of Pennsylvania
The California University of Pennsylvania, based in Pennsylvania, offers more than two dozen fully online graduate degree programs. Students can complete specialized academic paths to earn degrees such as:
- Master of Arts in Social Science
- Master of Business Administration, MBA
- Master of Education
- Master of Science in Exercise Science & Health Promotion
- Master of Science in Legal Studies
- Master of Science in Nursing
- Master of Science in Sport Management Studies
- Professional Science Master’s
U.S. News & World Report has ranked the California University of Pennsylvania’s online graduate programs highly. The school placed 35th on the publication’s Best Online Graduate Education Programs list and 54th on the Best Online Graduate Nursing Programs list. The university has repeatedly made The Princeton Review’s annual Best in the Northeast list.
Tuition rates at the California University of Pennsylvania can vary not only from one master’s degree program to another, but also depending on where you live. Generally, master’s degree programs start at $454 per credit for Pennsylvania residents and $681 for out-of-state residents.
Cost: $454.00 per credit, or $8,172 per year of full-time study
Regional Accreditation: Middle States Association of Colleges and Schools
12. New England College
For students seeking to advance in business management, New England College is an excellent choice. The school offers four different online graduate degrees, including:
- Master of Arts in Professional Writing
- Master of Arts in Public Policy
- Master of Business Administration
- Master of Science in Management
Students in New England College’s MBA program can choose from seven different specialties, ranging from project management to digital and social media and from nonprofit leadership to sports and recreation management. Management students also have their choice of concentrations, including subjects such as banking, healthcare, nonprofit and real estate management. U.S. News & World Report has ranked New England College highly, placing the school 61st among the list of the Best Online Graduate Business Programs (Excluding MBA), 125th among the Best Online Graduate Education Programs and 126th among the Best Online MBA Programs.
The tuition rates at New England College differ from program to program. The most affordable degree is the Master of Education, which costs just $461 per credit. The most expensive MBA and Master of Science degrees cost $666 per credit.
Cost: $461 per credit, or $8,298 per year of full-time study
Regional Accreditation: New England Association of Schools and Colleges
13. Eastern Kentucky University Online
Some schools have multiple selling points. Besides the value of an affordable education, Eastern Kentucky University has fared well in college rankings and features an accelerated course schedule to let students earn their degrees quickly without having to divide their attention between three or four classes at a time. The school offers seven different types of fully online master’s degrees, including:
- Adult, Juvenile and Community Corrections Leadership
- Construction Management
- Education
- Library Science
- Nursing (MSN)
- Public Administration (MPA)
- Safety, Security & Emergency Management
The school is highly ranked by U.S. News & World Report, earning the following honors:
- The school overall is ranked 25th among the best colleges for veterans, 27th among the top public schools and 62nd among the best regional universities
- Eastern Kentucky University has placed highly on the publication’s Best Grad School rankings, landing 31st place among occupational therapy programs, 138th place among public affairs programs and 181st place among speech-language pathology programs.
- The school placed 47th on the list of Best Online Graduate Education Programs and 61st on the list of Best Online Graduate Nursing Programs.
In addition to being highly ranked, Eastern Kentucky University allows you to earn your degree quickly through an accelerated schedule. Courses are offered in two eight-week terms during the fall and spring semesters as well as six-week terms for those students who want to continue their studies over the summer.
Master’s degrees in education and library science are the most affordable programs at Eastern Kentucky University, costing just $490 per credit. The other graduate degree programs cost $595 per credit – still a great value.
Cost: $490 per credit hour, or $8,820 per year of full-time study
Regional Accreditation: Southern Association of Colleges and Schools
14. Fielding Graduate University
Fielding Graduate University caters to working adults who already have a bachelor’s degree and are seeking to expand their career opportunities with a graduate or doctoral education. Three schools make up the university:
- The School of Educational Leadership for Change, which houses the Master of Arts in Collaborative Educational Leadership program
- The School of Human & Organizational Development, which includes the Master of Arts in Organizational Development & Leadership program
- The School of Psychology, home to the online Master of Arts in Media Psychology program
Unlike the other programs on this list, Fielding Graduate University features “blended” education, a combination of online courses and face-to-face learning activities through what the institution calls the “distributed learning model.” Some of these programs may require more in-person interactions than others, but all are designed to allow you to continue with your day-to-day work and personal life without having to move from your home location. For example, students pursuing a Master of Arts in Organizational Development and Leadership can choose the self-directed model of study, which means they must only attend two face-to-face sessions during the course of their studies. The Master of Arts in Media Psychology program is conducted completely online, requiring no in-person attendance.
The cost of studying at Fielding Graduate University varies depending on which degree you pursue. The most affordable master’s program is the MA Collaborative Educational Leadership degree, which costs just $4,545 per term.
Cost: $4,545 per semester, or $9,090 per year of full-time study
Regional Accreditation: Western Association of Schools and Colleges
15. Bellevue University
Bellevue University offers more than two dozen fully online graduate degree programs in subject matters ranging from business and the arts to science and information technology. If you’re looking for a unique or niche degree program, Bellevue might have exactly what you’re seeking. After all, its master’s degree offerings include the Master of Science in Leadership and Coaching, the Master of Fine Arts in Creativity and the Master of Project Management degrees.
While the school offers both on-campus and online degrees, the distance learning programs in particular have earned high rankings. U.S. News & World Report has ranked Bellevue University 33rd among the Best Online Graduate Criminal Justice Programs, 78th among the Best Online Graduate Business Programs (Excluding MBA) and 123rd among the Best Online MBA Programs.
You have a lot of choices in programs of study at Bellevue University, and the cost of tuition won’t do anything to limit your decision. Both online and traditional graduate students will pay a flat rate of $525 per credit hour for the 2015-2016 academic year.
Cost: $525 per credit hour, or $9,450 per year of full-time study
Regional Accreditation: The Higher Learning Commission of the North Central Association of Colleges and Schools
16. This school has been removed by request
17. Colorado Technical University
Colorado Technical University offers more than 40 online master’s degree programs in security studies, information technology, healthcare, business and management and engineering and computer sciences. MBA students can choose from a dozen concentrations to cultivate a specialized education that will set them apart from the crowd. The school’s online graduate computer information technology and criminal justice degree programs, in particular, are highly ranked by publications like U.S. News & World Report – placing 18th and 22nd respectively.
All master’s degree programs at the Colorado Technical University cost the same per credit — $585 in 2015 – which means students can choose the program that most interests them without feeling constrained by cost discrepancies.
Cost: $585 per credit hour, or $10,530 per year of full-time study
Regional Accreditation: The Higher Learning Commission of the North Central Association of Colleges and Schools
18. Northcentral University
At Northcentral University, students will find online master’s degree programs in education, business administration, marriage and family therapy and psychology. The school’s distance learning programs cater to international students, active military personnel and busy, working professionals – students who need the flexibility of being able to earn their degree from anywhere in the world. The institution prides itself on its “one-to-one teaching model” where students partner with doctoral professors. You don’t even have to wait for the semester to start – Northcentral University begins courses every week so that students can commit to getting an education when it’s convenient for them and get started right away.
The school’s most affordable program, the Master of Education degree, costs just $1,794 per class, while classes in the most expensive program, the MBA, cost $2,319.
Cost: $1,794 per course, or $10,764 per year of full-time study
Regional Accreditation: Northcentral University is regionally accredited by the WASC Senior College and University Commission (WSCUC). 985 Atlantic Avenue, Suite 100, Alameda, CA 94501 1.510.748.9001,www.wascsenior.org.
19. Thomas Edison State College
Whether you’re interested in a degree as general as a Master of Arts in Liberal Studies or as specific as Master of Public Service Leadership, you can find a great value at Thomas Edison State College. The New Jersey-based public college bills itself as “exclusively for adults” – and it was among the first schools in the nation to focus on higher education for adults. The school’s eight online graduate programs encompass a wide range of subject areas, including education, business and management, nursing and applied science and technology. The New York Times has called Thomas Edison State College the “college that paved the way for flexibility.”
Students in all graduate programs except for MBA studies pay the same cost – $617 per credit. Business students pay $660 per master’s-level course.
Cost: $617 per credit, or $11,106 per year of full-time study
Regional Accreditation: Middle States Commission on Higher Education
20. Benedictine University
If you’re seeking a career-making education in healthcare or business, Benedictine University could be right for you. The private Catholic university offers master’s degrees in nursing, public health, nutrition and wellness, business administration and management and organizational behavior. Ambitious students can take advantage of the school’s four dual degree options to build up their skills, and their résumé, even more.
U.S. News & World Report has ranked Benedictine University 86th on the list of Best Online Graduate Business Programs (Excluding MBA) and 90th on the list of Best Online Graduate Nursing Programs. Students pay the same cost per credit regardless of which degree program they choose to study.
Cost: $620 per credit hour, or $11,160 per year of full-time study
Regional Accreditation: The Higher Learning Commission of the North Central Association of Colleges and Schools
21. Franklin University
If you have an interest in any aspect of the business world, from administration to marketing and human resources to accounting, consider advancing your career with a graduate degree from Franklin University. The private, nonprofit Ohio-based school offers these nine fully online degree programs in business and other subjects:
- Master of Public Administration
- Master of Healthcare Administration
- Master of Business Administration (MBA)
- Master of Science in Human Resource Management
- Master of Science in Business Psychology
- Master of Science in Accounting
- Master of Science in Marketing & Communication
- Master of Science in Instructional Design & Performance Technology
- Master of Science in Computer Science
Franklin University charges a standard tuition rate of $625 per hour regardless of which program of study you choose. Business students, in particular, will appreciate the high rankings of their degree programs. U.S. News & World Report has placed Franklin University 49th on its Best Online Graduate Business Programs (Excluding MBA) list and 133rd on its Best Online MBA Programs list.
Cost: $625 per credit hour, or $11,250 per year of full-time study
Regional Accreditation: The Higher Learning Commission of the North Central Association of Colleges and Schools
22. Norwich University
Whether your academic interests lie in business, history, or the sciences, there’s a reason to consider Norwich University for your distance learning education. The private, Vermont-based institution offers the following fully-online graduate degree programs:
- Master of Arts in Diplomacy
- Master of Arts in History
- Master of Arts in Military History
- Master of Business Administration
- Master of Civil Engineering
- Master of Public Administration
- Master of Science in Information Security & Assurance
- Master of Science in Leadership
- Master of Science in Nursing
Both Norwich University generally and the school’s online academic offerings specifically have received high rankings. U.S. News & World Report placed the school 29th among the Best Colleges for Veterans and 74th among Regional Universities. The publication also listed Norwich University 48th among the Best Online Graduate Engineering Programs, 83rd among the Best Online Graduate Nursing Programs and 84th among the Best Online MBA Programs. The school’s online master’s courses are designed for working adult students, providing plenty of convenience and flexibility.
The cost of studying at Norwich University depends on which program you pursue. Tuition rates for the Master of Science in Nursing, the most affordable graduate program, are $626 per credit. The school’s most expensive program, the Master of Science in Information Security & Assurance, costs $791 per credit.
Cost: $626 per credit, or $11,268 per year of full-time study
Regional Accreditation: New England Association of Schools and Colleges
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24. Herzing University
Herzing University’s online graduate programs cater to business professionals and nurses. Nursing students at the private, nonprofit college can earn their MSN studying one of two concentrations, Family Nurse Practitioner or Nursing Education. For business students, the school’s eight MBA concentrations include:
- Master of Business Administration (general)
- Master of Business Administration in Accounting
- Master of Business Administration in Business Management
- Master of Business Administration Dual Concentration Option
- Master of Business Administration in Healthcare Management
- Master of Business Administration in Human Resources
- Master of Business Administration in Project Management
- Master of Business Administration in Public Safety Leadership
- Master of Business Administration in Technology Management
Online education programs at Herzing University have repeatedly earned high rankings from publications like U.S. News & World Report.
All concentrations of the MBA programs at Herzing University cost $650 per credit, as do courses for MSN students in the Nursing Education concentration. Students pursuing their MSN with the Family Nurse Practitioner concentration will pay slightly more, with tuition costs at $750 per credit.
Cost:$14,200
Regional Accreditation: The Higher Learning Commission of the North Central Association of Colleges and Schools
25. Champlain College
If you’re a working professional seeking a master’s degree in the liberal arts and sciences, Champlain College could provide the education you need at a great value. The school features the following nine fully online graduate degree programs:
- MBA
- Ed. in Early Childhood Education
- MS in Digital Forensic Management
- MS in Digital Forensic Science
- MS in Executive Leadership
- MS in Health Care Administration
- MS in Law
- MS in Managing Innovation & IT
- MS in Mediation & Applied Conflict Studies
The private, Vermont-based school placed 14th on U.S. News & World Report’s list of the best regional colleges. Champlain College prides itself on offering “career-focused” academic programs that quickly get students into jobs in their fields of study. The small college features equally small class sizes, with a student-to-faculty ration of just 12 to one. The school’s online graduate programs are particularly appealing for working professionals because they give students credit for the work experience they already have.
How much you will pay in tuition depends on which degree program you choose to study. The most affordable graduate degree program at Champlain College is the Masters of Education in Early Childhood Education, which costs just $660 per credit. Even the most expensive program, the Master of Science in Law degree, costs just $799 per credit.
Cost: $660 per credit, or $11,880 per year of full-time study
Regional Accreditation: New England Association of Schools and Colleges
Conclusion
Choosing a college for your graduate studies is a big decision. You want to consider not just the cost, but also the value. Use this guide as a resource to begin your college search so that you can find the perfect master’s degree path to help you meet your career goals. Consider questions like:
- What support services does the school offer?
- What reputation does the school have in your field of study?
- What will the total cost be by the time you add in any fees and expenses?
You may have to do a little homework to decide which school is right for you, but you can find an excellent education at an exceptional value at one of the 25 cheapest online master’s degree programs.
Related Resources:
Top 10 Graduate Degree Programs in Criminal Justice
