Find your perfect college degree
Paying for college is often considered an ordeal by the average American household. The good news is that college students have options. Tuition payment plans make it easy to attend!
The Lowdown:
In the US, there are online colleges with low down payments and low monthly payments, as well as regionally accredited online colleges with payment plans.
With affordable payment plans for online courses, students are given a chance to obtain quality education within a reasonable budget. Today, we will lay out all the facts and give you a list of the ten best online schools with the best payment plans in the US.
A Look Inside Traditional Education
According to the Education Data Initiative, the average annual cost of college tuition in the United States is $9,750 in-state and $27,457 out-of-state. The data shows a fast increase, with a compound annual growth rate of 4.11%.
Beyond tuition, traditional students must also pay for books and supplies, room and board, and other living expenses. On average, students must budget at least $38,270 a year. This amount is hefty for many college students, especially those with prior financial commitments.
Moreover, the jumps between prices depend on the specific bachelor’s program that you’re taking at a college or university.
If you’re looking to complete a liberal arts degree focusing on the areas of science, math, and engineering, Harvey Mudd College offers one of the most expensive and renowned programs in the US, with the total cost of attendance per school year billed at almost $93,000.
If you’re a professional who’s hoping to further your business studies, the Wharton School of the University of Pennsylvania offers an executive education program that could run for more than $200,000 for two years.
Of course, with the demand for more cost-effective options, some schools strive to offer quality education minus the bulk of fees that lead students to crippling student loan debt.
For example, the City University of New York offers tuition (part-time, four-year program) amounting to $305 per credit for in-state students, and $620 per credit for out-of-state residents.
Much Ado about Distance Learning
The COVID-19 pandemic has significantly altered higher education, notably shifting towards online learning. In 2020, 44% of undergraduate students opted for online courses, marking a 29% increase from the previous year. During this time, many students and parents questioned the effectiveness of online learning.
According to a 2020 article by ABC News, students at Drexel University filed a class-action lawsuit against the school, collectively demanding that their fees and other advanced payments be returned to them in the wake of the COVID-19 crisis.
The students feel as if they were short-changed, and agree that the virtual education efforts of the school don’t necessarily meet what they’ve paid for in the first place.
Across other states, the sentiment is similar: Inside Higher Ed reports that students at New York University and University of California campuses felt the same way towards virtual learning programs, with the delivery not at par with their expectations.
Even with these growing pains, this learning modality is promising: private providers and web developers are working double-time to design better educational tools and collaborative suites to cater to a growing number of users. It’s only a matter of time before it gets better.
In 2021, traditional schools resumed in-person classes. However, the popularity of online learning continued to soar. About 28% of undergraduates chose distance education over traditional learning, a rate that remains higher than the 15% enrollment in distance programs before the pandemic.
Types of Online Tuition Payment Plans
Some institutions have payment plans to assist students in paying for education or spreading out costs. Such programs are also available from third-party companies.
Your institution may use a third-party organization to manage its official school payment arrangements.
Standard Plans
A typical payment plan’s primary principle is to save you from having to pay a hefty bill at the start of the semester. Instead, the payments are spread out throughout the course of the semester. For this sort of plan, an enrollment fee is usually required.
Deferred Plans
Some colleges use the terms “delayed plan” and “payment plan” interchangeably. Other institutions uniquely handle deferred plans. They expect you to pay a large down payment at the start of the semester, a second installment halfway through the semester, and the remaining balance at the end. Enrollment fees are frequent, and late payments may be charged interest.
Tuition Stabilization Plans
Rather than spreading out your payments, this technique is designed to keep price increases from ruining your budget. However, you’ll need to be able to pay a large sum of money all at once to take benefit of this approach. It entails paying for four to eight semesters ahead of time to lock in the current tuition rate.
Direct Bill Plans
Your employer may cover part of your overall tuition costs. You can have the school’s billing department send the bill directly to the individual or organization who will be paying it using a direct bill plan. It’s possible that the final payment won’t be due until the middle of the semester.
The Best Online Schools with the Best Payment Plans
The quest for the best online colleges with low down payments and low monthly payments may seem exhausting, but luckily, we’ve got you covered. Here are ten of the best online schools with the best payment plans in the US:
Liberty University
Lynchburg, VA
Popular Degree Program/s: Business, Management, Marketing, and Related Support Services
Liberty University, a private institution, is known for having a strong online presence. It offers more than 700 programs of study and an array of financial aid opportunities designed for online students. Liberty is also known for its affordability, where full-time online undergraduate students pay only $390 per credit hour.
Liberty offers various flexible tuition payment plan alternatives, in addition to maintaining low tuition rates and various financial aid options. Monthly tuition payments are available under interest-free payment options.
College of Coastal Georgia
Brunswick, GA
Popular Degree Program/s: Workforce Management, Nursing, Public Administration
The College of Coastal Georgia began offering online programs in 2012. Today, the institution offers different bachelor’s degrees with a small student-to-teacher ratio of fewer than ten students to 1 instructor. CCG offers one of the lowest per-credit-hour costs, set at $106.80, regardless of whether students are residents or non-residents
Full-time, experienced faculty facilitate lessons that are recorded and archived for the convenience of students who may want to review lessons and previous discussions. The online program is fully accredited by the Southern Association of Colleges and Schools Commission on Colleges.
Together with NelNet Business Solutions, the College of Coastal Georgia offers a convenient budget plan that you can easily manage through the college’s payment portal.
Brigham Young University-Idaho
Rexburg, ID
Popular degree program/s: Music, Nursing and Allied Health Sciences, Business Management
The Brigham Young University-Idaho, a non-profit university that is owned and operated by the Church of Jesus Christ of Latter-Day Saints, delivers a “wholesome academic, cultural and social environment.” It is home to more than 34,000 on-campus students and 15,000 online learners.
The school prides itself in offering significantly fewer tuition fees through the BYU-Pathway which offers almost 40 online certificate and degree programs. The undergraduate per credit hour cost at BYU Online is $139 (member) and $174 (non-member).
You can set up the minimum required payment plan, which is 10% of the total balance by contacting the financial services department of the school before enrollment.
Indiana University – Bloomington
Bloomington, IN
Popular degree program/s: Allied Health Sciences, Applied Sciences
Indiana University – Bloomington, a renowned research university, provides high-quality online programs. For resident undergraduate students, the cost per credit hour is $687.90, whereas non-residents pay $1,404 per credit hour.
The school offers 149 online programs that allow students to earn credits even while on break. If you’re seeking an option for continuous education, they also have graduate certificate programs that are 100% online.
You can pay your tuition in up to four installments, paying only the down payment and enrollment fee initially.
University of Florida-Online
Gainesville, FL
Popular Degree Program/s: Business Administration, Management
As a leading state research university with a significant on-campus enrollment rate of more than 50,000 students, the University of Florida extends its services online. You can search through their list of 25 undergraduate programs across respected departments.
UFL Online offers low tuition rates. Per credit hour costs are $129.18 for residents and $552.62 for non-residents. Depending on your qualifications, online students may be eligible for various financial aid programs and flexible payment plans for online courses, which you can discuss with the Office for Student Financial Affairs
Great Basin College
Elko, NV
Popular Degree Program/s: Nursing and Health Sciences Applied Sciences
Based in Elko, Nevada, Great Basin College is a public state institution that offers quality and one of the most affordable associate and baccalaureate instructions in various career and technical education areas, with over 4,000 enrollees annually across the country.
GBC provides affordable online tuition rates for out-of-state students, priced at $433.75 per credit hour. Residents, on the other hand, pay $312 per credit hour.
If you qualify, you can apply for a grant or federal parent loan, which would allow you to arrange for an affordable payment plan with the school. You can do this by signing up at the portal’s Student-Self Service Center.
University of North Dakota
Grand Forks, ND
Popular Degree Program/s:Communication and Media Studies, Psychology
The University of North Dakota offers a fully accredited online education platform with undergraduate per credit hours costs ranging from $462.16 to $683.18 . The school also has a rolling application deadline, which gives you more flexibility and less stress about deadlines.
UND has more than 120 online programs and certification courses to choose from, spanning from Engineering to Forensic Psychology, which you can take via their Self-Paced Enroll Anytime scheme. They also offer semester-based classes that run according to the school’s academic calendar.
If you qualify for federal financial aid or scholarship grants, you can talk about possible options with their one-stop student services department. Qualified UND students usually receive more than $11,000 in financial aid every year.
Thomas Edison State University
Trenton, NJ
Popular Degree Program/s: Nursing, Liberal Arts, Technical Associate Degrees
At Thomas Edison State University, prospective students are given a taste of the program even before they decide to start. With their array of programs and certifications (13 associate degree programs, 33 bachelor’s degrees, 15 master’s, and two doctorate tracks), you can take sample courses to fit distance learning into your schedule. Residents pay a per credit hour cost of $419, while non-residents are charged $545.
The rolling enrollment policy and asynchronous instruction allow for flexibility with classes. Their career and academic guidance department are also open online, in case you may need to use this service.
TESU also offers a university payment plan (deferred billing option, usually three installments) that allows you to schedule charges depending on your budget. You can set it up once you’ve completed your course registration and make a payment via TESU’s Online Student Services portal.
Oklahoma State University
Stillwater, OK
Popular Degree Program/s: Engineering, Business, Education
Oklahoma State University brings quality programs at a very affordable price point. The per credit hour costs are $205.30 for residents and $697.90 for non-residents. Depending on your learning objectives, you can get a degree in multidisciplinary studies at OSU, which could double your chances of acquiring more professional skills.
They also have virtual assistance departments in areas such as math and writing. Additionally, they have a career services department that helps graduates land a job within one to two years after graduation.
OSU offers a Payment Option Plan (POP) that gives students the chance to make four monthly payments minus finance charges, and enrollment holds if students comply with the terms, paying only $25 upon enrollment.
Arizona State University
Scottsdale, AZ
Popular Degree Program/s: Business, Allied Health Programs (Pre-med)
The Arizona State University Online Program is one that’s living up to its name in delivering quality education and distance learning modalities across the country.
ASU Online offers a comprehensive package, making use of apps to keep students and their professors connected. The school offers career workshops online, allowing students to get the most out of distance learning.
Online tuition costs for ASU Online degrees range from $663 to $744 per credit hour. Additionally, students may receive financial aid and scholarship grants according to their qualifications, bringing opportunities for those who genuinely deserve it.
The ASU Payment Plan has a unique structure. Students must re-enroll for payment plans every session. Residents and non-residents must pay an enrollment fee of $100 for the Fall and $200 for the Spring plans. These costs are lowered to $50 and $100 in the summer.
Is An Online College or University Cheap?
The short answer? Probably.
There are certain aspects that we must consider before we can genuinely say that it’s cheaper to earn a degree online. In some cases, it’s not as affordable as you may think.
- Median in-state tuition and fees at public online colleges ($8,254) are higher than at all public colleges ($5,941), suggesting potential savings for in-state students at traditional colleges.
- Out-of-state tuition and fees at public online colleges ($8,400) are lower than those at all public colleges ($10,760), making online learning a cost-effective option for out-of-state students.
- Median tuition and fees at private, nonprofit online colleges ($10,002) are significantly lower than at all private, nonprofit colleges ($27,730), demonstrating substantial savings for students opting for online education at private institutions.
If you look at it another way, the flexibility of enrolling in an online class extends toward not having to pay for gas or commute fares, which could significantly cut one’s daily expenses.
Because the learning takes place outside of school property, there aren’t rooms to clean up or pieces of land to look after, reducing physical maintenance and utility costs every year (which could reflect in your tuition).
Frequently Asked Questions
What advantages do tuition payment plans offer?
These plans break down the hefty tuition and other educational expenses into affordable installments. This approach enhances affordability by allowing students and their families to spread out smaller payments over the academic year.
How do tuition payment plans work?
Tuition payment plans require breaking up the overall cost of tuition into manageable amounts that are paid throughout the semester or school year. Students often pay a registration fee and follow the predetermined payment schedule regularly.
What happens if you don’t make your payments?
The consequences of late payment vary by university but typically include a fee of around $30 to $50. If payments keep bouncing, the school might end the payment plan and immediately make the entire balance due. This can lead to enrollment and graduation issues for students.
Summary Points
- Don’t let student loan debt get you down. You deserve to realize your dreams through higher education.
- Take the initiative to find the online program that will suit your needs, as well as offer a monthly payment plan.
- Often, online distance learning degrees are cheaper than traditional on-campus options.
If you liked this article, we have several more COLLEGE TIPS that you may find useful. If you want to be prepared and make the right choices about college, you will want to check out the college tips link for sure.
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