College is a necessary, albeit expensive venture. You can significantly increase your lifetime earnings, but you also have to pay a lot of money up front. The best way to offset the costs of a higher education is to find the most reputable program at the most reasonable price. By choosing to pursue an online degree, you not only can save money, but your valuable time as well. Here are just a few ways that online degrees can save you money.

1. Working Full or Part-Time

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While it’s true that earning an online degree can take a longer period of time, it’s offset by your ability to maintain working full or part-time. Traditional college classes that you have to attend make it difficult to work, as you may need classes that are only offered during the day. Online classes give you the flexibility to pursue a degree, while earning the money to pay for it at the same time. To boot, many prestigious universities, such as Wake Forest University, offer master’s programs online for the working adult.

2. Textbooks and School Supplies

Taking online courses can also help you save money on textbooks and school supplies, such as notebooks, pens, pencils, and other miscellaneous items. Most teachers for these classes put all the assignments and required reading online, so there’s no need to buy anything else. Many also put lectures online, so you can gain valuable information needed for tests.

3. Commuting

Whether you live in the suburbs or the city, commuting to school costs a substantial amount, especially if you use your own vehicle. The surging prices of gasoline along with car maintenance can end up costing you a bit over the course of a few years. Even if you take public transportation, it’s still expensive. Online classes give you the ability to attend from the comfort of your own home, and save you the money, time, and hassle of travel.

4. Room and Board

Living near campus is a pricey venture due to the high demand of students wanting to reside in close proximity to the university. By taking classes online, you don’t have to pay premium prices for housing. Instead, you can find an apartment to fit your budget or live at home, both of which will save you thousands of dollars.

5. Cheaper Tuition

Depending on what university you want to attend, tuition can be astronomically expensive. However, online schooling can cut these costs dramatically, as there is less overhead, and thus, less expenses to the school. There’s also no tuition increase for out-of-state students, as everything is done online.

6. Meal Plans

Brick and mortar universities offer their students meal plans as an alternative to eating out or cooking their own food, but these plans are often high-priced and of low quality. If you take online classes, you can save money by buying your own groceries and cooking your own food. Not only will you save money, but you will get to eat the food of your choice, which is tastier and healthier.

7. Tuition Reimbursement

Since taking online classes allows you to continue full-time employment, you might be lucky enough to have an employer that has a tuition reimbursement program. Typically, employers that institute this program will pay for all or a portion of your tuition, given that you stay with the company for a certain period of time after your graduation. If you like working for your company, this is a great way to get a free education and grow with your company into the future.

The most important thing to remember when considering online college courses is if the program offers what you need at an affordable price. Make sure that when you are looking at the various online universities that they are accredited. If they aren’t, you could be wasting your time and money, as many employers won’t recognize the degree. However, if and when you do find the right program, you’ll be saving time and money, which are your most valuable resources.

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