Do you want to earn your business degree online? Can you afford it? There are a few considerations you need to think about before you spend that tuition money.
Believe it or not, like shopping for a car, an apartment, or even a pair of jeans, you need to compare features and prices for a school before you start earn your business degree online. And today, cost is more important than even ten years ago because tuition is rising faster than the rate of inflation. Therefore, you need to treat that education like the investment it really is. Not only is it an investment in your intellect, but it is an investment in your marketability. More on marketability later, but first let's talk about cost.
Following is a breakdown of 2010-2011 tuition and fee expenses for various types of institutions according to the College Board, Annual Survey of Colleges, which applies to online degrees from state universities:
As you can see, picking a school that is located in the state in which you reside is much more affordable than one in another state. And a public school is less expensive than a private institution. But sometimes it isn't just the dollar amount that should guide you. You should also factor in the education that you will be getting while you earn your business degree online.
It's probably pretty obvious that you will get more out of a 4-year education than a 2-year education. But there is also a difference in the quality of schools. One school might have an excellent program while another school is just average. In addition, one school might have a terrific reputation, while a degree from another school, which has a fine program, might not hold the same prestige. This is one area where your "marketability" should be considered. You will need to consider if you are going to need prestige or can you sacrifice it for affordability in order to earn your business degree online. A good way to determine this is to perform informational interviews with people that currently hold a job that you would like to eventually do, in a company like one that you might eventually like to work for.
A career in business is one of the professions in which it pays to get an advanced degree. So let's take a look at the cost of an MBA program at two very different institutions.
There is a big difference here. Again, think about what you want to do with your degree. Do you want to rise in a popular corporation that has a highly competitive field of employee candidates? Go for Harvard. Or is there a local company that wants a quality leader but might not have as many competitors in its pool? Nebraska is great. What are the wages at the types of companies that you want to work for? You also want to be sure that the wage you will earn will be enough to cover the student loans you will need to pay back for the more expensive institution.
You might be say, "that isn't as bad as I thought it was". But wait, we haven't addressed the other expenses involved in earning your degree. So what other expenses do you have to think about? Here is a list of other things to take into consideration.
There is a lot to consider when it comes to the cost to earn your business degree online. It pays to make a list of pro's and con's of different types of schools as well as the financial cost and then make side-by-side comparisons.
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