Advance your nursing career without racking up student loan debt by attending one of today’s most affordable online MSN programs. We’ve researched the most affordable online MSN programs offered today, along with information on funding your degree, so keep reading to begin your MSN program search and have all of your questions answered.
Author: Kristina Brune
Expertise: Student SuccessGraduate EducationOnline LearningEditor: Kristin Marino
- Funding Options
Funding Your Online MSN Degree: 5 Ways to Save
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FAQs about Affordable MSN Programs
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Most Affordable Online Master’s in Nursing (MSN) Programs
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Funding Your Online MSN Degree: 5 Ways to Save
No matter which online MSN program you choose, cost is a significant factor. Fortunately, there are many ways to make getting your MSN more affordable, and we discuss five of the most common ways below.
Scholarships, grants, and fellowships created for MSN students.
There are many grants, scholarships, and fellowships available for students pursuing their MSNs. Awards are based on factors like financial need, academics, special interests, race, gender, and ethnicity. You can find scholarships and grants through sources like the American Association of Colleges of Nursing and our scholarships and resources guide.
FIND PROGRAMS NEAR YOU:
Work-Study or Assistantships
Word-Study or Graduate Assistantships allow you to get hands-on experience while also pursuing your degree. Work-study provides part-time work through your school, either on or off campus. Assistantship commitments vary significantly from one opportunity to another.
Employer Tuition Reimbursement Programs
Many employers recognize the value of employees pursuing advanced degrees. They know that by offering to reimburse employees for tuition they pay towards a degree that will make them a better employee, they’ll bring more value and knowledge to the organization and its patients.
Offering tuition reimbursement is also a way for companies to attract top talent. Check with your supervisor or HR department to find out if this is an option through your employer.
Many companies offer up to $5,250 per year, the maximum allowed by the IRS that is free of taxes. Healthcare employers like Duke University Health System and Memorial Sloan-Kettering Cancer Center offer tuition reimbursement programs.
Payment Plans
Many schools allow students to pay their tuition fees via a payment plan. Mt. Carmel College of Nursing, for example, lets students pay costs monthly for up to a year with no finance charges or interest. The University of Cincinnati Online is another school that offers payment plan options based on a student’s needs.
Paid Internships
Some students find paid internships where they get paid to learn on the job by putting their skills and education to work. Internships are offered in hospitals, educational settings, clinics, and in a variety of specialty areas. You can even find some paid internship opportunities on career websites like Indeed.
FAQs about Affordable MSN Programs
What impacts the affordability of an online MSN Program?
Many factors impact the affordability of an online MSN program, including whether a school is private or public or if the program is online or in person. Other factors such as available scholarships, work-study programs, and transfer credits also directly affect how much the program will cost you. Carefully consider each of these factors to calculate the affordability of a program.
What is the ROI of an online MSN program?
Obtaining an MSN advances your career and increases earnings. According to the Bureau of Labor and Statistics, the median annual income for medical and health service managers was $117,960 with the lowest 10 percent of workers making less than $69,680 and the highest 10 percent earning upwards of $219,080. Knowing what you might make with an MSN as compared to the cost of your degree can help you determine your ROI.
How can I ensure that an affordable MSN program is high-quality?
To ensure a program is high-quality, choose one that is accredited by the U.S. Department of Education through agencies like the Accreditation Commission for Education in Nursing (ACEN), the Commission on Collegiate Nursing Education (CCNE), or the Accreditation Commission for Midwifery Education (ACME). Also look at a school’s ranking, the faculty’s experience, networking opportunities, available clinical experience, graduate performance on national certification exams, and job placement numbers.
Is an online MSN more affordable than an in-person MSN?
Yes, attending an online program can be more affordable. Some schools provide a cheaper tuition rate for online students than for in-person ones. Affordability goes beyond this, though, extending into time saved from travel and from having to take time off to attend classes.
Can job experience count towards an MSN and help cut costs?
Some schools offer credit toward their programs based on previous work experience, which allows students to skip some courses, graduate faster, and ultimately pay less for their degrees. Every program is different, though, and some programs require that applicants take examinations to evaluate the number of credits and assess competency in different subjects before allowing job experience to count toward their degrees.
How can I know if an affordable MSN program is right for me?
Begin by listing your must-haves for an online MSN program. You might include items like cost, program length, whether it’s fully or partially online, the specialties offered, admissions requirements, faculty, etc. Compare this list to what potential schools offer. Only by doing adequate research up front can you be sure that any affordable MSN program is right for you.
Most Affordable Online Master’s in Nursing (MSN) Programs
Wilmington University
Best for: advancement-focused students
Fort Hays State University
Best for: working students
Spring Arbor University
Best for: working students
Youngstown State University
Best for: working students
Delta State University
Best for: working students
Midway University
Best for: working students
Cumberland University
Best for: advancement-focused students
Winona State University
Best for: advancement-focused students
Northeastern State University
Best for: working students
Franklin University
Best for: working students
