The Real Cost of an Online Health Degree
In general, the average tuition and fees based on NCES and College Board data are as follows.
- Public universities: About $11,950/year (in-state)
- Private universities: About $45,000/year
When indirect costs are added, the numbers can jump to $30,000/year (public) and $63,000/year (private). These apply to online degree programs, too.
But most students can’t pay upfront for these costs (i.e., out-of-pocket). About 38% of undergraduates take out student loans. The average loan per student is $7,700/year (NCES).
These numbers matter because healthcare degrees are often more expensive than non-healthcare degrees because of the accreditation requirements and specialized training necessary.
But don’t let these numbers put you off them either. These costs are manageable with a strategy.
So, if you want to learn about how to afford an online degree, read on.
Related:
- Best Entry-Level Healthcare Degrees
- Military and Veteran Financial Aid for Accelerated Nursing Programs
- Financial Aid and Scholarships for Accelerated Nursing Students
- Telehealth Certificates to Watch
Can You Earn an Online Health Degree Without Student Loans?
Yes, you can earn an online health degree without debt. But it demands combining multiple funding strategies, including:
- Grants and scholarships
- Employer reimbursement
- Low-cost schools
- Transfer credits
- Accelerated paths
10 Smart Ways to Pay for College Without Loans
Yes, it’s possible to pay for college without loans. But it goes beyond knowing how to afford an online degree, too. You must adopt a proactive and strategic approach.
Start early in exploring your options. Discuss the best ways based on your circumstances and goals with a trusted person. Stack your financial aid options.
1. Choose an Affordable Online Health Program
By starting with affordable online health programs, you’re setting a strong foundation. These are the best places to look for these programs.
- Public universities where you can enroll as an in-state student. But even in these schools, compare their in-state tuition.
- Low cost accredited online colleges that offer flat-rate tuition. Consider Western Governors University and Thomas Edison State University.
Always make per-credit cost comparisons even among public schools.
2. Fill Out the FAFSA (Even for Online Programs)
FAFSA for online college is the same as for traditional colleges. As such, federal financial aid for online students includes:
- Pell Grants, which are need-based grants that don’t have to be repaid
- Direct Subsidized and Unsubsidized loans
- PLUS loans for graduate students or parents
- Work-study programs, although fully online students have limited access for students
The online college must have institutional accreditation for eligible students to submit FAFSA.
3. Apply for Healthcare-Specific Scholarships
Scholarships for health majors also don’t need to be repaid. But the eligibility requirements can make them more competitive, especially for merit-based ones. Be sure to read the eligibility requirements, application instructions, and other rules first.
The wide range of healthcare degree grants includes:
- Nursing scholarships
- Allied health grants
- State workforce grants
- Hospital-sponsored scholarships
Stack smaller scholarships – every dollar counts in college cost reduction.
4. Use Employer Tuition Reimbursement
Many hospitals and clinics offer employer tuition reimbursement healthcare programs. These programs are intended to help employees earn degrees and/or certifications.
The tuition coverage depends on the program itself. Many hospitals offer $2,000–$5,000 per year to cover tuition costs. Some large healthcare systems provide full tuition coverage for RN or BSN programs.
5. Work in Healthcare While You Study
Work study online programs allow working professionals to earn income and gain experience. You can, for example, work in one of the following capacities:
- Certified Nursing Assistant (CNA)
- Medical assistant
- Unit clerk
Many students pursue free online healthcare courses with certificate options. Doing so boosts their employability – certificates signal targeted skills.
6. Start at Community College and Transfer
This is a huge cost saver because community colleges usually have:
- More affordable tuition and fees
- Cheaper costs on books and supplies
- Better accommodations for working professionals
Complete your general education credits at a community college first. Then, transfer your associate’s degree credits to a four-year university.
Tip: Ask about a community college’s articulation agreement with a four-year college. This facilitates a seamless transfer of credits.
7. Choose an Accelerated Online Health Degree
If you want to finish faster, consider accelerated online health degree programs. You can also save on costs and, thus, avoid taking out student loans.
Accelerated programs have shorter completion times. In turn, you’ll save on:
- Tuition and fees
- Books and supplies
- Other related school expenses
8. Look for Schools with Flat Tuition
In a flat tuition model, you can take more credits, but you’ll still pay the same tuition. You’ll then be able to maximize the value of your education.
This is particularly beneficial for:
- Out-of-state students who usually pay higher per-credit rates
- Full-time online learners who want to accelerate their completion time without increasing costs
You’ll also find that it simplifies budgeting due to predictable tuition charges.
9. Use Tax Credits and Education Benefits
Federal tax benefits can reduce your college costs, too. When you combine them with scholarships and grants, you’re less likely to take out loans.
The tax credits and education benefits include:
- The American Opportunity Tax Credit (AOTC) offers up to $2,500 per year for eligible students.
- The Lifetime Learning Credit (LLC) provides additional support for continuing education.
You don’t receive cash upfront. Instead, these credits reduce the costs you pay out of your pocket.
10. Consider Loan Forgiveness (If You Must Borrow)
If borrowing becomes necessary, look for programs with loan forgiveness options. The US Department of Education, for example, offers the Public Service Loan Forgiveness (PSLF) program.
Of course, the main goal is to avoid student loans. But if you must borrow, a forgiveness plan provides a safety net.
Most Affordable Online Health Degrees by Field
With these health degrees, you can enjoy affordable costs and strong career outcomes. (Median wages and projected job growth are from BLS, May 2024, 2024-2034, respectively)
Nursing
An online nursing degree affordable option that can open opportunities toward a nursing career. RNs are in high demand with a 5% projected growth and median wages of $93,600/year.
Healthcare Administration
A healthcare administration degree can lead to entry-level roles in healthcare settings. With work experience and further training, it can lead to managerial positions. Medical and health services managers earned $117,960/year and have a projected growth of 23%.
Public Health
A public health degree opens opportunities toward a wide range of roles. These include policy work, community health education, and epidemiology.
Health Informatics
A health informatics degree focuses on EHRs, data analytics, and clinical data systems. Health information technologists earned $67,310/year and have a projected job growth of 15%.
Medical Billing and Coding
A medical billing and coding degree opens more opportunities than a certificate alone. Medical records specialists earned $50,250/year, with a 7% projected job growth.
Cost Comparison Table
| Degree | Average Tuition | Potential Entry Salary | ROI Timeline |
| Nursing (Bachelor’s) | $15,000 –$40,000 | $60,000 –$70,000 | 2-4 years |
| Healthcare Administration (Bachelor’s) | $20,000 –$45,000 | $55,000 –$65,000 | 3–5 years |
| Public Health (Bachelor’s) | $15,000 –$35,000 | $45,000 –$55,000 | 3–6 years |
| Health Informatics (Bachelor’s) | $20,000 –$40,000 | $55,000 –$65,000 | 3–5 years |
| Medical Billing and Coding (Associate) | $5,000 –$15,000 | $35,000 –$45,000 | 1-3 years |
Notes:
- Average Tuition reflects in-state tuition in online programs.
- The Potential Entry Salary data is based on the BLS May 2024 median wages.
- ROI Timeline refers to the time needed to recoup tuition costs after graduation with full-time employment.
Is an Online Health Degree Worth It Financially?
Yes, it is when ROI is considered. Here are the reasons why healthcare degrees offer better ROI.
- Median wages in the healthcare sector are usually higher than the national average. Healthcare occupations earned $83,090/year in median wages. In comparison, the median wage for all occupations is $49,500/year.
- The healthcare sector offers strong job growth and stability. The overall projected job growth in healthcare occupations is much faster than average.
So, if you can avoid student loan debt, your ROI will likely be higher.
Let’s say your online degree costs $20,000 total with transfer credits and financial aid. Your entry salary is, say, $60,000–$65,000/year. With these amounts, you can recoup your cost in 1-2 years.
Frequently Asked Questions
Can you get financial aid for online nursing programs?
Yes, but only if these are offered by accredited institutions.
Are online health degrees cheaper?
Often, yes. Online programs decrease costs by removing or reducing:
- On-campus fees and housing charges
- Commuting expenses
- Books and supplies
What is the cheapest healthcare degree?
Associate’s degrees in medical coding and billing are usually the cheapest.
Can I work full-time while earning an online health degree?
Yes. Online programs usually offer asynchronous classes, convenient access, and low residency.
How do I avoid student loans completely?
Combine multiple strategies, including the following:
- Choose affordable public online programs.
- Apply for federal and state grants.
- Stack grants and scholarships.
- Use employer tuition reimbursement.
- Earn while you learn.
Do employers reimburse online degrees?
Yes. Ask your employer if you can avail of tuition reimbursement for your health degree costs.