Cheapest Online Finance Degree Programs

Earning a finance degree is a great way to set yourself up for success in a high-demand field with plenty of high-paying positions. However, tuition for online finance degrees can cost upwards of $30,000 per year. That said, plenty of affordable programs offer high-quality education at a fraction of the cost of more expensive institutions.

To help you start a new career in finance, here’s a closer look at the cheapest online finance degree programs, careers you can pursue with a finance degree, and tips for paying for your degree.

How Much Do Online Finance Degrees Usually Cost?

When considering an online finance degree, it is important to understand the typical costs involved. Online programs are often more cost-effective compared to traditional on-campus options, as they eliminate expenses like housing and commuting. However, tuition fees can vary significantly depending on the institution and program.

On average, online finance degrees range from $10,000 to $30,000 per year. While these figures can be intimidating, it’s important to remember that financial aid, including grants and scholarships, can significantly reduce out-of-pocket expenses.

Keep in mind that tuition isn’t the only cost to consider. Distance education fees, technology fees, books, supplies, and other expenses can add a few thousand dollars to your bill.

While costs can vary, finding reputable online finance degree programs with lower tuition rates is possible, giving students a chance to save significantly on their education.

How Can I Pay For a Finance Degree?

Financing your education is crucial to pursuing a finance degree. Besides personal savings, several options are available to help you fund your education and reduce the financial burden of attending college.

Loans

One of the most common ways to finance a degree is through student loans. Regarding borrowing, federally subsidized loans are usually the best option. These loans do not accrue interest while the student is enrolled at least half-time, making them more affordable in the long run. Additionally, federal loans offer flexible repayment options and borrower protections. You often won’t be required to pay your loan until after graduation.

To apply for federal loans, complete the Free Application for Federal Student Aid (FAFSA). The FAFSA determines your eligibility for various financial aid programs, including grants, scholarships, and work-study opportunities.

Scholarships and grants

Scholarships and grants are excellent funding sources for students pursuing a finance degree. There are numerous scholarships available specifically for finance majors. Here are a few examples:

• The Financial Executives International (FEI) Scholarship Program offers undergraduate and graduate finance students financial support.
• The Morgan Stanley Richard B. Fisher Scholarship Program provides financial support for sophomores and juniors at accredited universities who are members of groups historically underrepresented in the financial services industry.
• The Financial Women’s Association (FWA) Scholarship supports women pursuing finance-related degrees.

Remember to explore other scholarship opportunities offered by professional organizations, foundations, and financial institutions. These scholarships can significantly offset the cost of your finance degree.

You should also check with your program for scholarship opportunities and submit your applications as early as possible to ensure you get all the funds you may be eligible for.

Work-study

Another option is work-study programs. These programs allow students to work part-time on-campus or with approved off-campus employers to earn money to cover their educational expenses. Work-study programs provide valuable work experience while helping students manage their finances.

To participate in a work-study program, complete the FAFSA and indicate your interest in work-study. If eligible, you will be connected with relevant job opportunities on and off campus.

Is a Finance Degree Worth It?

Understanding what careers you may be eligible for and how much you can expect to earn is a significant consideration when deciding whether or not to pursue a degree.

According to data from the Bureau of Labor Statistics (BLS), individuals in business and finance occupations earn significantly more than the average worker. The average annual wage for business and finance professionals is $76,570 as of May 2021, whereas the overall average across all occupations is $45,760. This substantial difference highlights the potential for higher earnings in finance.

A finance degree equips individuals with a strong foundation in financial principles, investment strategies, risk management, and financial analysis. This knowledge is highly valued in various sectors, including banking, investment firms, corporations, and government organizations.

With a finance degree, you can pursue various exciting career paths.

Here are a few examples:

• Financial Analyst: Financial analysts assess investment opportunities, analyze financial data, and provide recommendations to individuals and organizations for making informed financial decisions.
• Financial Manager: Financial managers oversee the financial health of organizations, develop financial strategies, and make decisions regarding investments, budgets, and financial planning.
• Investment Banker: Investment bankers facilitate mergers and acquisitions, assist with raising capital, and provide financial advisory services to corporations and other financial institutions.
• Risk Manager: Risk managers identify potential risks within an organization, develop strategies to mitigate those risks, and ensure compliance with regulatory requirements.
• Financial Planner: Financial planners work with individuals and families to develop personalized financial plans, including budgeting, saving, investment, and retirement strategies.

These are just a few examples of the diverse career opportunities available to finance graduates. There is a very high demand for finance professionals, and the potential for career growth and advancement is promising.

Pursuing an online finance degree can be a cost-effective way to enter the world of finance while ensuring a sound return on investment. By carefully considering the cost of online programs, exploring financial aid options, and evaluating the potential earnings and career opportunities, you can make an informed decision that aligns with your aspirations and financial goals. Remember to research and compare various online finance degree programs to find the most affordable and reputable options that suit your needs.

How we rank schools

This list features some of the cheapest online finance degree programs in the country. Each school featured is a nonprofit, accredited institution — either public or private — with a high standard of academic quality for post-secondary institutions.

We evaluated each school’s program on tuition costs, admission, retention and graduation rates, faculty, and reputation. Then, we calculated the Intelligent Score on a scale of 0 to 100. Read more about our ranking methodology.

Next, we compared this comprehensive list of the cheapest online finance degree programs to a list of aggregated college rankings from reputable publications, such as U.S. News & World Report, to simplify a student’s college search. We pored through these rankings so students don’t have to.