If you attended college from fall 1970 until spring 1974 (a typical 4 year span), you could have graduated with an undergrad degree from a public university and have spent a total of about $6,500. Add in the costs of room and board, and that number is closer to $10,500 (in current dollars). Fast forward to 2003 to 2007 (the latest dates for which information is available) and that same degree will run you almost $52,000. Include room and board and you’re looking at closer to $80,000. The exact same degree now costs 8 times as much as it did 40 years ago. These rapidly increasing costs have spurred a lot of people to look for alternatives. Many turn to online degrees; but are they getting a good deal?
Different Types of Online Degrees
Not all online degrees are created equal. And I’m not just talking about different institutions that issue them, but that is a huge part of it. One could get a degree from a university in their home town, without ever setting foot in that university.
Almost all colleges and universities offer some sort of online program. Some offer just a few classes here and there, while others offer the entire curriculum online. If you get your degree entirely online from a college or university that has a campus, there is almost no way that an employer would be able to tell that you never set foot on the campus.
Contrast that with the recent surge in popularity of online universities. These schools, such as University of Phoenix, Kaplan, and DeVries, have no campus. In fact, these universities are hardly even designed as universities, but rather as businesses intent on making money. While most institutes of higher education are non-profit, there are quite a few online ones that have the goal of making money.
So what does that mean for your education?
Are Online Degrees Worthwhile?
If you are looking for a cheap(er) way to get your education, online could be the way to go. For profit online schools offer educational programs and degrees that are widely accepted. Often they cost quite a bit less than a traditional university because they don’t have to maintain a campus. There are downsides to these degrees though.
Some employers will see an online degree as less than reputable. Even if you did all of the work, and learned just as much as you would from a traditional school, there is still a bias about online degrees.
Some of that bias comes from the fact that not all online schools are accredited. There are strict requirements set for by the US Department of Education. If a school doesn’t meet them, they are considered non-accredited. You might as well get a degree from the University of Frank because a non-accredited degree is almost worthless.
What Do You Want to Study?
There are some degrees that are easier than others to pursue online. For instance, if you want to pursue nursing, you will need a lot of hands on training. An online degree would be harder for this. However, if you want to pursue an English degree, you really don’t need any training or teaching in person. Online might be the way to go.
Wrapping it Up
The bottom line is that online degrees are worth it to some, and not worth it to others. It all depends on where you want to go and what your goals are. If you want to become a high powered executive, spending extra for a traditional degree is worthwhile. If you have dreams of being a journalist, then the school isn’t as important as the quality of your work.
Before you choose a degree path, make sure you know all about the school, the degree, and how it is viewed in the workplace. Otherwise you may end up spending thousands of dollars on something that isn’t getting you much of anywhere.
