Most Affordable Online Colleges of 2024
Updated March 27, 2024 at 5:16 pm
Florida schools top our list of the most affordable online colleges in the country, making the Sunshine State a low-cost education destination for both in-state and out-of-state students. But Florida doesn’t have a lock on cheap online colleges. Our research uncovered several other schools around the country with low tuition to help you find a way to get an affordable online degree while sticking to a budget.
Methodology Our research is designed to provide you with a comprehensive understanding of personal finance services and products that best suit your needs. To help you in the decision-making process, our expert contributors compare common preferences and potential pain points, such as affordability, accessibility, and credibility.
Our Picks - #1: University of Florida Online
- #2: University of Central Florida
- #3: Florida International University
- #4: University of North Carolina Pembroke
- #5: Eastern New Mexico University
- #6: City University of New York
- #7: California State University
- #8: Universities of Wisconsin
- #9: Western Governors University
- #10: Purdue Global
10 Most Affordable Online Colleges of 2024
#1
University of Florida Online
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$4,517 average annual cost
Why We Chose It
At just $112 per credit hour, the University of Florida Online offers students a high quality education at a very low price. Gators who attend online pay just 75% of the university’s already-low in-state tuition, and the school offers a grandparent discount, student financial aid, military tuition assistance and out-of-state waivers. Students are also eligible for federal student aid, since the school is accredited by the Southern Association of Colleges and Schools Commission on Colleges (SACSCOC).
Pros
- Low cost per credit hour
- Military tuition discounts
- High average graduation rate
Cons
- Test scores required for admission
- Out-of-state students pay $500 per online credit hour
- Required and optional fees increase the per-credit price
#2
University of Central Florida
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$9,217 average annual cost
Why We Chose It
It doesn’t have the same name recognition as the University of Florida, but per-credit pricing at the University of Central Florida is even cheaper, ringing up at just $105.07 per credit hour for in-state students. The University of Central Florida offers more than 20 bachelor’s degrees to choose from and is accredited by the Southern Association of Colleges and Schools Commission on Colleges (SACSCOC).
Pros
- Very low price per credit hour
- 20+ bachelor’s degree programs
- 73% graduation rate
Cons
- $511.06 out-of-state resident fee added per credit
- Test scores required for admission
- 36% acceptance rate
#3
Florida International University
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Why We Chose It
Florida International University (FIU) is a large public university based in Miami, Florida. Offering 53 different undergraduate degrees and priced at just $6,757.65 per year for a full course load (inclusive of fees), FIU combines robust academic programs with affordable tuition rates. FlU is accredited by the Southern Association of Colleges and Schools Commission on Colleges (SACSCOC).
Pros
- 53 undergraduate degree options
- One year of tuition is $5,331.66
- Diverse student body
Cons
- Out-of-state tuition and fees is $19,156.65
- Test scores required for admission
- Up to 4.25% fee for paying tuition with a credit card
#4
University of North Carolina Pembroke
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208.33 per credit hour (non-resident)
Why We Chose It
Even non-resident students can find affordable tuition at University of North Carolina Pembroke, which charges between $42 and $208 per credit hour, depending on the program and student’s residency. The school, which is accredited by the the Southern Association of Colleges and Schools Commission on Colleges (SACSOC), offers several inexpensive, accelerated programs for students to complete their degree and a wide variety of graduate degrees, certificates and licensures.
Pros
- Very low-cost tuition for in-state residents
- Affordable tuition for out-of-state residents
- 92% admission rate
Cons
- 46% graduation rate
- Undergraduate offerings are slimmer than other online colleges
- Some courses require proctored exams, which carry additional fees
#5
Eastern New Mexico University
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$4,994 average annual cost
Why We Chose It
A mid-size, public university based in Portales, New Mexico, Eastern New Mexico University offers students affordable tuition plus a wealth of scholarships for in-state and out-of-state freshmen, military members, transfer students and others. Students may also be eligible for federal financial aid, work-study, grants and waivers. Eastern New Mexico University is accredited by the Higher Learning Commission (HLC).
Pros
- Low tuition for in-state and out-of-state students
- ENMU financial aid may lower your costs further
- 30 degree options available
Cons
- Some assessments require a proctored setting
- Low graduation rate
- Low admission rate
#6
City University of New York
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$2,061 average annual cost
Why We Chose It
The City University of New York (CUNY) provides multiple online options for New Yorkers and others to complete their degrees online quickly. Online students can take advantage of 1:1 personalized support, counseling, career services and disability accommodations in addition to rigorous academic instruction. The CUNY system is accredited by the Middle States Commission on Higher Education (MSCHE).
Pros
- 175 online options
- Accelerated degree options
- Test scores not required for admission
Cons
- Some hybrid courses require in-person participation
- Non-resident per-credit cost is $620
- Costs are higher for graduate degree programs
#7
California State University
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Why We Chose It
The California State University system offers 10 popular bachelor’s degrees online, as well as 13 master’s degree programs and three doctoral programs. Accredited by the Western Association of Schools and Colleges (WASC), the California State University system offers online students a range of federal, state and private student aid to help in paying for school. Cal State undergrad tuition is $5,742 for an academic year.
Pros
- No test scores required to apply
- 91% acceptance rate
- Affordable in-state tuition
Cons
- Cost can vary depending on program
- The non-resident, per-semester unit rate is $396
- Limited range of online degree options
#8
Universities of Wisconsin
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In-state at UW-Green Bay is $8,342 per year
Why We Chose It
The 13 Universities of Wisconsin have collaborated to provide students with a huge variety of online degrees and programs — more than 200, actually. Students can choose from undergraduate or graduate programs and semester-based, competency-based and accelerated courses.
Pros
- 200 options to choose from
- 13-university collaboration
- 91% admission rate
Cons
- Must choose a “home campus”
- Price-per-credit varies depending on program
- Lower-than-median graduation rate
#9
Western Governors University
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Why We Chose It
Students at this private nonprofit university can choose from dozens of 100% online degree programs, all accredited by the Northwest Commission on Colleges and Universities (NWCCU) in addition to individual programmatic accreditations. Undergraduate tuition at WGU averages $8,010 per year.
Pros
- Wide variety of degree options
- Flat-rate tuition charged by term, not credit hour
- Free service helps you submit transcripts
Cons
- Tuition is the same regardless of number of classes
- Some options, such as nursing, are more expensive
- 58% graduation rate
#10
Purdue University Global
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(12 quarter credit hours make a full-time course load)
Why We Chose It
According to the U.S. Department of Education, the average annual cost at Purdue Global is negative $4,247, which just may be thanks to the number of grants and tuition assistance available to its students. Accredited by the Higher Learning Commission, Purdue Global offers 40 undergraduate degree programs, plus associate’s and master’s degrees as well as certificate programs.
Pros
- Wide variety of degree options
- 100% admission rate
- Tuition reduction for military members
Cons
- 27% graduation rate
- Some programs are not 100% online
- Some programs aren’t eligible for military tuition assistance
How to Choose an Online College
To choose the best online college for your goals and your budget, you should keep a few factors in mind. Where you live, your previous educational history and the program you choose are just a few of the factors that can influence your choice of school and how much you’ll pay.
- Residency: Some online colleges distinguish between in-state and out-of-state (or resident and non-resident) tuition. You may be able to save money by choosing an online college in your state.
- Program: Make sure your school of choice carries your intended degree program. Some programs, such as nursing or engineering, may carry higher costs.
- Reputation: Don’t pay for a big name without making sure that you’re getting big value, too. Smaller or lesser-known online colleges can still deliver high-quality education, often at a much lower cost.
- Accreditation: When shopping for a school, pay attention to its accreditation, which is a marker of its educational standards. Institutional and regional accreditation are well-regarded, and some degree programs can be accredited too. Plus, schools must be accredited by recognized authorities in order to distribute federal financial aid.
- Cost: Higher education is possible on a lower budget. Look for schools that help you cut tuition costs, whether through flat-rate pricing, accelerated coursework or easy credit transfers.
How To Apply
The application process is typically much the same no matter which online college you choose. Follow these steps to apply:
- Fill out the university application form: You can usually find an online application on the university’s website. Some schools may also accept the Common App. The application will typically call for your name and personal information, as well as your education background and sometimes your work experience.
- Gather your transcripts: You may need to contact your previous school to have your official transcript sent directly to the university admissions office.
- Write an essay: If your application requires it, write an essay according to the prompt given to you.
- Collect letters of recommendation: You may also need to provide letters of recommendation along with your application. Employers, mentors and previous professors or teachers are good people to ask.
- Submit your test scores: For schools that require or consider test scores such as SAT or ACT, you can have the testing agency send your scores directly to admissions.
- Pay the application fee: Application fees usually range from about $30 to $75.
- Keep track of your application: Keep tabs on the progress of your application and be sure to check your email regularly in case the admissions officer requires more information from you for acceptance.
Should You Enroll in an Online Program?
Online college offers a convenient way to earn your degree, but there can be some drawbacks, too. Consider the following factors to help you decide whether enrolling in an online program is the right course for you.
Flexibility
Online courses can be synchronous (when they meet at the same time each week) or asynchronous (when you study at your own pace). Either way, cutting out your commute lets you learn on your schedule, with a flexibility that’s not available with on-campus classes.
Accessibility
Online college also makes it easier for people of all ages, disabilities, family situations and income levels to access higher education. It might be the solution you need as you juggle health concerns or parenting obligations.
Affordability
Another perk of online school is that it’s often more affordable than attending a traditional residential university. You can shop around for a school that fits your needs and your budget, instead of being limited to universities nearby.
Discipline
On the other hand, you must master your time management if you want to be successful with distance learning. Make sure you have the discipline to stay on top of your assignments and coursework so you get the most out of your classes.
Networking
Remote classes can also make it more difficult to network with your peers and professors, which could make it more difficult later on in your career. If you decide to enroll in an online school, try to engage with your fellow classmates and join a few clubs to stay connected.
How to Pay for Your Online Degree
In addition to choosing an affordable online college, you have other ways to bring down the costs of an online degree.
- Financial aid: Filling out the Free Application for Federal Student Aid (FAFSA) allows you to apply for federal loans, grants and work-study aid. Students can take out direct subsidized and unsubsidized loans up to a certain amount, and parents can take out PLUS loans for the rest.
- Private loans: Some lenders offer private student loans, which aren’t backed by the government and don’t come with the same forbearance protections or repayment plans.
- Scholarships: These are funds you can use for school expenses and don’t need to pay back. People often refer to scholarships as “free money,” but you’ll often need to apply and meet certain requirements to earn many of them.
- Military benefits: Service members and veterans may be eligible for special tuition assistance and other aid.
- Employer assistance: Some employers provide tuition assistance and reimbursement to their employees. Check with your employer to see whether there are restrictions on the amount covered, the program or the school.
Cost of an Online Degree
An online degree can be significantly less expensive than one from a four-year residential university. You won’t have to pay room and board or travel expenses (unless you need to sit for exams in person). An online degree also allows you to choose a budget-friendly school, even if it’s far away. You can find online degrees that cost just $100 per credit hour or a few thousand per year if you know where to look.
Just remember that a degree isn’t automatically cheap just because it’s online. It’s a wise idea to talk with an admissions counselor as well as a financial aid advisor to get a clearer idea of what your actual costs will be at a particular school. Your costs can vary depending on whether you have transfer credits, which program you choose, what fees the school charges and whether you’re a resident or non-resident for tuition purposes. You’ll also still need to cover the cost of textbooks and supplies.
Frequently Asked Questions
What Is the Quickest Degree To Get Online?
You may be able to get a bachelor’s degree in just 12 months, but typically you’ll have to already have some classes under your belt first. Look for schools that offer competency-based courses; these give you college credit for what you’ve already learned, whether in college or on the job. Keep in mind that if you want an accelerated degree like this one, you’ll probably have to devote a lot of time each week—30 or 40 hours—to speed through the process.
What Are the Cheapest Regionally Accredited Online Colleges?
State schools are a good place to start if you’re looking for cheap, regionally accredited online schools. For example, both the University of Florida and the University of North Carolina are accredited by SACSCOC, which until 2020 was considered a regional accreditation, and both are very inexpensive.
Do Online Colleges Accept FAFSA?
Yes, online colleges accept FAFSA. In fact, to qualify for federal financial aid, filling out the FAFSA form is a requirement. To accept the FAFSA, the online school must be accredited by a Department of Education-approved accrediting agency. To find out if your school accepts FAFSA and can administer financial aid, look it up on the Federal Student Aid website or check with the financial aid office directly.
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