If you are thinking about earning a master’s degree focused on education, there are many factors to consider. Having such a degree can open up career advancement opportunities, leading to higher salaries. And the knowledge and experience gained in a master’s degree program can help you improve as an educator. But the cost of master’s degree programs can be prohibitive for many. And this cost is not reflected in school tuition and fees alone.
The real expense of a master’s degree can include many other factors, such as cost of living, relocation expenses, opportunity cost and child care for those with families. Emporia State University (ESU) offers five accelerated online Master of Science programs in education, all of which can be completed in as few as 12 months. With affordable tuition and online convenience, these programs can help address your financial concerns as a prospective master’s degree candidate.
How Much Do ESU’s Online Master’s in Education Programs Cost?
Currently, each of ESU’s online Master of Science degree programs in education costs a total of $10,296. That amount is based on $312 per credit hour for 33 required credit hours. This cost includes tuition and all fees. Tuition is the same for both in-state and out-of-state students (which is not the case for some other online master’s degree programs).
How Does This Compare to Tuition for Other Master’s Degree Programs?
In tuition and fees alone, ESU’s online programs are considerably more affordable — Peterson’s reports that graduate degree program tuition averages around $30,000 for public schools and $40,000 for private schools.
Tuition varies depending on the kind of degree program, the location, public vs. private school, in-state vs. out-of-state, online vs. on-campus, etc. The total cost of master’s degree programs can range from ESU’s affordable figure of $10,296 to upwards of $300,000 for the most expensive programs in the U.S.
What About the Other Costs Associated With Attending Graduate School?
Many students have to relocate to attend traditional, on-campus master’s degree programs. This means moving expenses as well as the possibility of a higher cost of living (in more expensive cities). If you live off campus, transportation costs become a consideration. And, if you have a family, the extra cost of childcare while attending classes may be a concern.
Opportunity cost is another extremely important factor in thinking about the cost of a master’s degree. In this case, opportunity cost refers to what you give up while attending traditional graduate school, namely income and career opportunities.
For example, according to the U.S. Bureau of Labor Statistics, the median salary for kindergarten and elementary school teachers in 2017 was $56,900. For a teacher to give up that income during a two-year master’s degree program means a loss of nearly $114,000. Plus the teacher could miss out on raises, promotions and other advancement opportunities.
On the other hand, earning your Master of Science in education through one of ESU’s online programs can help you avoid many of these costs. You do not have to move or consider extra transportation costs. You can take courses from the comfort of home on your own schedule. And you can retain your job and income, as well as pursue professional opportunities that come your way.
Clearly, ESU’s accelerated online programs present a flexible, affordable option for working professionals, parents and others looking to earn a education-related master’s degree and advance in their careers.
Learn more about Emporia State University’s online master’s degree programs in education.
Sources:
Peterson’s: Is the Cost of a Graduate Degree Worth It?
StudentDebtRelief: How Much Does a Master’s Degree Cost in 2017?
FinancesOnline.com: 10 Most Expensive Degrees From Top U.S. Universities & Colleges
National Center for Education Statistics: Table 330.50
CNBC: Why Does a College Degree Cost So Much?
Forbes: Do the Math: How Opportunity Costs Multiply Tuition
U.S. Bureau of Labor Statistics: Kindergarten and Elementary School Teachers
