Most Affordable Online Master’s in Education in 2024

There are hundreds, if not thousands, of different options for students seeking an online master’s in education (M.Ed.). Yet some of these schools cost so much that most students either graduate with tremendous debt or choose not to attend in the first place.

This makes the cost of earning a college degree a likely factor when an individual considers whether to earn a master’s degree in education. The decision is often complicated by the belief that earning a degree from an Ivy League school or another prestigious university is the only way for the degree to be a worthwhile endeavor. Multiple sources show that pursuing a master’s degree from a school that offers one of the cheapest online master’s in education programs is no different than earning a master’s degree in education from a more expensive school.

Fortunately, many affordable options exist for earning an online master’s in education. Since education should be about your personal development, it is worth taking the time to pick the right online program to fulfill your needs. Ensure that the school not only fits into your life but also provides you with a good experience, a valuable education, and a stable work-life balance.  

Earning an affordable master’s degree in education allows teachers and other educators to focus on a specific area that interests them or aligns with their career goals. These schools that offer the cheapest online master’s in education degrees feature comprehensive programs that provide opportunities for students to enhance their knowledge and skills in education without the cost of a more expensive school. 

26 Most Affordable Online Master’s in Education

Methodology

We researched and ranked schools that offer the cheapest online masters in education degrees in an online format. We considered the program length of each program and assigned a unique score based on these factors. When there was a tie, the school with the lower tuition received the higher ranking.

We do our best to be honest, fair and accurate in all of our rankings. All information was correct at the time we compiled this list of ranked schools.

Why Earn an Online Master’s in Education Degree?

Teaching is one of the noblest professions out there. If you want to dedicate your life to doing something that makes a real difference in the world, teaching is a great field to get into. 

One of the best parts of an online master’s in education program is that it provides teachers with the flexibility to advance their education without having to quit teaching or relocate. Due to the flexible nature of online education programs, teachers can continue teaching during the day while also earning their master’s in education degree at night or on the weekends.

Beyond the flexibility that comes with online programs, earning an online master’s in education is also great because it offers the same degree as an on-campus program.

That’s right. Students that attend a school that offers an online master’s in education degree receive the same exact degree as students that studied on-campus. The degree itself does not indicate whether the individual completed the program on-campus or online.

Another myth that should be debunked is that there is a major difference between different online master’s programs. There is no difference between a degree that comes from an expensive school and one that comes from a school that offers an affordable online master’s degree. Several sources, including an NPR article, explain that student engagement is the biggest factor that influences post-graduate outcomes. These studies indicate that when a student is motivated and engaged in the program curriculum, the student will gain far more from their online master’s in education program than a student who attended an expensive school but wasn’t engaged in the coursework. Another survey in the article showed that career outcome was not influenced by ‘whether a person’s diploma cost $25,000 or $250,000.’

Traditional teaching positions are not known for having the highest salaries. Fortunately, seeking out a master’s degree in education can help teachers get ahead. A master’s in education program can help you improve your capabilities, learn pedagogical tools, and keep your education current. It can also help you receive a salary increase. Though most teachers aren’t in it for the money, an increased salary is greatly needed by many.

How Much Does a Teacher with a Master’s in Education Degree Make?

The name of the school where a teacher or other educator earned their master of education degree has no bearing on their salary. The Bureau of Labor Statistics (BLS) explains that ‘the more you learn, the more you earn.’

The BLS does not break down whether a person completes their master of education degree on-campus at a prestigious university or whether the person completes their degree at a school offering an affordable online master’s in education degree. The BLS reveals that the median usual weekly earnings in 2019 for a person with a master’s degree was $1,497. Individuals with bachelor’s degrees earned $1,248 as their 2019 median weekly earnings. This difference demonstrates another reason for educators earning a master’s degree in education.

How To Find The Most Affordable Online Master’s Degree in Education

Selecting a school is not an easy task. To figure out which school is right for you, you might need to figure out which schools offer suitable concentrations and specializations. Often, a general master’s in education is enough. However, other times it is necessary to find a school specializing in Early Childhood Development, Autism Research, High School Mathematics, or another niche area. Deciding on the right specialization is an important part of your career path, future success, and the value of your education.

Choosing a Master’s in Education Online Program That Fits Your Needs

When choosing a school, it is important to consider what the school offers in terms of programs.

Different programs are better suited to specific candidates through course specialization. Of course, deciding which of these programs is better would depend upon the specialty of the teacher attending college. When looking at programs, assessing the program’s suitability for your current life is a good idea. If you work, have a family, and are constantly on the go, a flexible and entirely accessible online program is probably better than a demanding program on a physical campus two states over.

Though cost is a significant factor in decision-making, cost alone should not be the determining factor in your quest for higher education. There are many benefits to enrolling in an online graduate program over an on-campus program. These include accessibility, convenience, and flexibility. Also, the average cost of an online degree program is far less than attending a physical location. The overhead costs of an online degree are less than those of a traditional degree since physical facilities and associated costs tend to make up most of the tuition associated with an on-campus master’s degree program.

Benefits of Getting an Online Master’s Degree in Education

It is essential to remember that you cannot earn a master’s degree in education at any school. Only accredited universities and colleges offer master’s degrees. These programs need to meet many rigorous standards, which means that if somebody has a master’s in education, they have completed all the requirements to receive the qualification. That does not mean that all schools are equal, but they all have to meet minimum requirements to ensure that you get a master’s level education.

A prestigious school matters to some people. Often, an online master’s program does not have the same prestige as an expensive, traditional four-year program, and many people look down on them. But recent studies have indicated that attending a highly prestigious program does not necessarily correlate to future success or happiness. The experience, education, and engagement while in school have the greatest impact on success and happiness. These are not guaranteed just because a school has a certain level of prestige.

Potential to Earn a Higher Salary

Teachers with a master’s in education usually earn about $250 more a week than those with a bachelor’s. Over the course of a full academic year, teachers with a master’s in education degree will earn approximately $12,480 more annually.

• Master’s Degree in Teaching Salary: $81,848 annually
• Teacher with a Bachelor’s Degree Salary: $69,368 annually

A higher salary can be expected regardless of whether you earn your master’s degrees on-campus or through one of the online programs. If you’re expected to get the same pay increase, irrespective of where you attend, why not choose the more affordable degree option that will leave you with less debt when you graduate?

Online Degrees Provide Flexibility

Beyond affordability, there are many additional benefits to completing an online graduate program. Besides cost-effectiveness, other benefits of enrolling in an online degree program include convenience, versatility, and flexibility. If you plan to teach or work as you complete your degree, an online master’s degree program is much more convenient. This approach is also better for prospective online students if they have family obligations or cannot travel to a physical campus. 

Online schools have opened doors for many people. It used to be that only a very select few could pursue higher education. For many who were fortunate enough to be able to attend a university in person, it’s a struggle to make ends meet financially while dedicating their lives to their studies. Not to mention, many relocate to go to the school of their choice. Now, prospective students can enroll in one of the many online programs that allow them to study on their schedule, from the comfort of their own home, and often at their own pace. This accessibility allows a wide range of people to earn a degree, including those with special accessibility requirements. 

Before committing to a master’s degree, it is worth taking stock of your situation. You must know why you plan to attend school, what you hope to attain from your degree, and how much time, money, and energy you can commit to graduate school. Knowing the answers to these questions means you can effectively plan your course of study.

Master’s Degree Can Provide High Return-On-Investment (ROI)

While most teachers are not attracted to the profession to make money, you still want to know the likely return on investment from an online master’s of education. When you pursue a master’s degree, most people expect to earn more money. However, we should also recognize that about 70% of students leave school with debt. As student loans gather interest, this can be very damaging.

Thankfully, those who can manage to pursue a degree without taking on excessive debt still have a solid return on investment. According to a recent study conducted by FREOPP, master’s degree holders have about double the earning potential than individuals with only a high school degree. And compared to bachelor’s degree holders, individuals with a master’s degree can expect to earn 20% more in lifetime earnings. That equals to over $12,000 more per year or $1,000 more per week.

How to Calculate Potential ROI

When deciding whether or not to attend college or get a secondary degree, it is worth assessing your likely ROI. To calculate your ROI, you need to gather some data. First, you must know precisely how much your degree will cost. Then, determine how much funding you are likely to receive. This funding can come from scholarships, grants, bursaries, or loans. If you have loans, you need to account for interest. Then, calculate how much money you will lose by taking time off work to study. Finally, figure out what the likely increase in pay will be once you complete your degree.

Advance Into a Career in School Administration

Another advantage of a master’s degree in education is that it makes it easier to move into administrative positions if you so choose. While an administration position is not for everyone, these educational leadership positions are integral to the education system. Of course, as you likely already know, administrative positions tend to pay more than teaching jobs. Administrators can make between $96,000 and $148,000 a year, which means that the ROI for a master’s degree in education can be far higher than anticipated. 

Average Cost of a Master’s Degree in Education

The cost of an online master’s degree in education can vary greatly depending on the school and form of education. For example, People often forget that the price of a graduate degree is not exclusively connected to tuition. Although tuition tends to be the most significant single expense, other factors, like the cost of living, books, and extra fees, will likely exceed the tuition cost considerably.

However, one of the many benefits of an online master’s degree is that it dramatically reduces those additional costs. The only significant cost of an online master’s degree program is tuition. As you’ll see below, an online degree can be an excellent option for teachers seeking an affordable online master’s in education.

• Online Master’s Degree in Education Cost: Can be under $10,000
• Public Schools Master’s Degree in Education Cost: $20,000-$48,000
• Private School Master’s Degree in Education Cost: $70,000-$100,000+

As you can likely tell, the average cost of a master’s in education varies widely. Of course, the level of education offered does as well. However, the tuition price is not equivalent to the value of the education. To get the most value out of your secondary education, online students should prepare to be as engaged as possible within their online programs.

In terms of cost-effectiveness, degrees in education obtained through an online master’s program tend to be far more affordable than the alternatives offered on physical campuses. It used to be that there was a degree of stigma attached to an online program. As the digital era continues to take shape, this stigma has dissipated. Employers now understand that online education can be as rewarding and sophisticated as the physical alternative. Also, online education is much more accessible to many differently-abled people who are simply unable to relocate, cannot drastically alter their life to accommodate a traditional degree, or don’t learn as well in a traditional educational environment.   

The average tuition fee of a master’s degree program for an online student is around $18,000, which is far less than the average cost of a private physical college, which tends to be approximately $35,000. Public and state universities tend to be in the same range. However, some online learning programs cost more than their physical alternatives. If this is the case, it is likely because the costs of information technology and digital transformation of materials have been high for the university in question. Generally, this occurs at institutions that do not typically rely upon online programs. 

Tips for Making Your Master’s Degree in Education Even More Affordable

Selecting a more affordable program is not the only way to reduce the costs of your master’s degree in education. It is also possible to save money by applying for scholarships, financial aid, grants, and bursaries. Sometimes, the department of education or school that you work for is willing to pay for your education if it is relevant to your position. Other times, they are willing to offer you paid time off to attend school. 

To offset the costs of a degree, it is important to apply for as much funding as possible. To help make this process a little clearer, we have laid out some of the basic financial aid options below. Here is a quick breakdown of the different types of funding commonly available to online students:

• Scholarship
• Grant
• Bursary
• Employer Reimbursement

Universities, private donors, public organizations, or government bodies tend to offer scholarships. Scholarships tend to be based on academic performance. They can be provided at the regional, state, or federal level. Generally, students are eligible for multiple scholarships at once. Several schools, such as American University, automatically consider all students who enter online studies for their base scholarships. 

A grant is not necessarily different from a scholarship or bursary. However, it is also not necessarily the same. A grant is simply an amount of money afforded to a specific student based upon particular criteria. It could be awarded based on research, merit, or necessity. Charities or trusts often offer these.

A bursary is a need-based grant. These are generally offered to people with special accommodation requirements, low incomes, or marginalized backgrounds. These grants attempt to level the playing field.

Employer reimbursement education programs are programs where employers offer to cover the costs of your education. These tend to occur as a benefit or because the employer believes that your education will eventually help them somehow. Corporations do this to increase profit, whereas schools tend to be concerned with improved performance and education.

The availability of these options will likely vary depending on your region, school, area of specialization, and circumstances. There are often separate scholarships and bursaries available to students pursuing online degrees and those pursuing them in person. When applying for scholarships, look into the particular requirements of the scholarship in question.

Before the application process, students should survey funding opportunities. Researching your options and preparing a potential funding budget can help you financially prepare for your education. Pursuing a degree is never entirely free. However, it is possible to reduce the costs as much as possible by supplementing or offsetting them with financial aid and scholarships. 

Most Affordable Online Programs for Master’s Degrees in Education

A master’s degree in education can be just the thing you need to take your career to the next level. It can also be a great way to get your teaching career started. Whether you’re already working or are just entering the workforce for the first time, a graduate program in education can give you both the educational edge you need to land a position and the pedagogical toolkit you need to teach effectively. 

It is worth looking into the online options if you’re interested in pursuing a master’s degree in education. The days when online degrees were considered inferior are gone. The digital era has made high-quality education more accessible and convenient than ever. Online degrees can be much more affordable than traditional programs without the additional costs associated with on-campus programs.