Graduate school has long been seen as the next step for people wanting to grow in their careers, climb the career ladder, or follow a passion. But for many, the rising cost of tuition, including for online programs, is making that dream harder to afford. Here, we explore why graduate and online programs are so expensive, what this means for students, and what you can do if you’re considering applying.
The Growing Cost of Higher Ed and Online Programs
In the past 30 years, graduate education costs have risen dramatically. At public universities, average undergraduate tuition has more than doubled from about $5,700 in 1994 to over $11,000 in 2024. For private universities, tuition increased from approximately $24,000 to more than $43,000. It’s important to note that these amounts exclude expenses for housing, food, or books, which add to the overall cost of attendance (College Board). Some undergraduate institutions are raising yearly tuition to over $90,000 (Duke Chronicle). Graduate schools are also following a similar trend, with an overall increase of 123% over the past 33 years, rising from nearly $4,500 to over $ 12,000 for public universities. Private universities have experienced a jump from approximately $17,500 to over $28,020, as reported in 2022 (National Center for Education Statistics).
Online graduate programs are not always the cheaper option that many expect. In fact, they often cost as much as, or even more than, in-person degrees. Several factors contribute to these high costs. First, schools must invest heavily in technological infrastructure to run online programs. This includes building learning platforms, hiring specialized tech staff, and ensuring the system can handle large numbers of students while running smoothly. Creating online courses also requires time and money. Faculty often need additional training to design content that works well in a virtual format, and developing strong, engaging materials for online use can require more effort than preparing for in-person classes (NPR).
Additionally, universities must pay licensing and accreditation fees to meet the standards set by accrediting bodies. These expenses are essential to ensure that employers and other institutions respect online degrees. Online students also depend on support services such as academic advising, career counseling, and technical assistance. Providing these services remotely contributes to the overall cost of running the program. Finally, colleges often invest more in marketing and recruitment to attract online learners, and these costs can further increase tuition. Altogether, as these hidden costs accumulate, they are passed on to students through tuition and fees (Hechinger Report).
Graduate School Debt and Lower-Paying Career Fields
For many students, graduate school is only possible by taking on loans. However, in fields like teaching and social work, salaries often don’t match the level of debt that students carry. The average social worker salary is approximately $55,000, which can make it difficult to manage loan payments after graduation (Forbes).
Several universities are reducing the number of funded graduate positions due to cuts in federal research funding. This has resulted in smaller incoming graduate classes and decreased financial aid at some institutions, which restricts opportunities for students unable to afford full tuition payments (Hechinger Report). Additionally, many universities are experiencing cuts to their federal research funding, further reducing graduate students’ financial support. For example, the University of Pennsylvania has responded by lowering graduate admissions and rescinding acceptances, thereby narrowing the options for prospective students (AP News, The Daily Pennsylvanian).
What Prospective Students Can Do
If you are thinking about graduate school, there are still options to help make it more affordable. One of the best things you can do is search for fellowships, scholarships, or programs that are fully funded. ProFellow’s database includes over 2,800 opportunities, with many focused explicitly on fully funded programs and external funding opportunities.
You can also explore whether your employer offers tuition assistance or reimbursement, especially if the degree will help you grow in your current job. For those working in nonprofit or public service roles, the federal Public Service Loan Forgiveness (PSLF) program may help forgive remaining student loan debt after a certain number of qualifying payments.
Before committing to a program, it’s helpful to research average salaries in your field and compare that to the cost of the degree. Some students are also choosing to pursue professional certificates, online microcredentials, or other educational options that offer valuable skills at a lower cost.
Final Thoughts
Graduate school, whether in person or online, is getting more expensive, but that doesn’t mean it’s out of reach. By learning about your options, asking the right questions, and seeking out programs with substantial funding support, you can make a thoughtful decision that works for your goals and your budget.
Whether you plan to apply next year or further down the road, now is a good time to start planning. Talk to alumni, connect with advisors, and explore what’s possible. With the right tools and support, graduate school can still make a thoughtful and meaningful step forward.
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