2024's Most Affordable Online Master’s in Accounting

Why You Should Consider Affordable Online Accounting Master’s Programs

Choosing an affordable master’s degree program in accounting provides advantages like saving money upfront, reducing financial stress, and improving your return on investment (ROI) after graduation. Affordable online programs often offer the same accreditation and curriculum as pricier options so you can earn the same credential for a fraction of the cost. Below, we summarize three key benefits — each with tangible examples — showing how an affordable MAcc degree program can improve your education experience and career prospects.

Benefit 1: Less Tuition and Debt

Opting for a budget-friendly accounting master’s degree program can save you tens of thousands of dollars in tuition costs. For example, Western Governors University (WGU) charges a flat-rate tuition, so the average yearly cost for a master’s degree program is $8,856 — approximately half the national average of $20,513. During a one- to two-year program, that difference can total over $10,000 in savings.

Lower tuition rates often let students take on little to no student loan debt, so they can graduate without much debt. In practical terms, you can start your accounting career without hefty loan payments reducing the amount of your paycheck — a huge relief for many students. For example, by choosing a master’s degree program that costs $15,000 instead of $50,000, you can keep more money in your bank account, both now and in the long run.

Benefit 2: High ROI and Career Payoff

Spending less money on graduate school boosts your return on investment (ROI) when your salary increases. A master’s degree in accounting can significantly increase your earning potential — without a high price tag, if you choose wisely. For instance, graduates of the affordable online MAcc program at WGU reported an average salary increase of over $19,900 after earning the degree. That kind of pay increase can cover the entire tuition of a low-cost program within a couple of years.

Many affordable programs are fully accredited and prepare graduates for certification as a Certified Public Accountant (CPA), which can further increase earnings. So, you don’t need to attend a $100,000 Ivy League program to reap the rewards; a $20,000 master’s degree from an accredited school can yield a similar career boost, which makes it a savvy investment.

Benefit 3: Less Financial Stress and More Flexibility

When a graduate degree program is affordable, you’ll likely experience far less financial strain — which can actually improve your academic performance. Without the weight of massive loans, you can focus on learning rather than worrying about every tuition bill. Many low-cost accounting master’s degree programs are offered fully online and are designed for working professionals, so you can keep earning a salary while studying. For example, you might take asynchronous courses at night and continue to work full-time, using each paycheck (or employer tuition assistance) to pay for classes as you go.

An affordable tuition rate makes it realistic to pay out-of-pocket or month-to-month, so some students can graduate debt-free. This financial flexibility gives you options; you can take a lower-paying internship to gain experience or concentrate on preparing for the CPA exam without financial stressors derailing your plan. So, a less expensive program lets you breathe easier and tailor your education to your life — a priceless benefit for busy adult learners.

Comparing the Most Affordable Master’s in Accounting Degree Programs

Below, we highlight three accredited U.S.-based master’s degree programs in accounting that are known for affordability. Each program features a quality curriculum with a budget-friendly price tag, delivered in a flexible online format. We pulled key details from the universities’ websites — including program length, credit requirements, tuition costs, admissions info, and outcomes — so you can get a concise, factual overview. These programs prove you can earn a respected master’s degree in accounting without spending a lot.

Student FAQs about Most Affordable Accounting Master’s Degree Programs

How can I be sure an affordable online accounting master’s degree program is reputable?

You should always check a school/program’s accreditation and curriculum. Reputable programs hold regional accreditation (the gold standard for universities) and often programmatic accreditation from bodies like the Association to Advance Collegiate Schools of Business (AACSB) and/or ACBSP. For example, many of the affordable programs highlighted above are ACBSP-accredited, which proves that they meet quality standards.

Students should also review faculty members’ credentials and the program’s course content — a solid curriculum covers advanced accounting, taxes, and auditing, and includes prep for certifications (like the CPA exam). Employers generally respect degrees that were earned online, as long as they’re from accredited institutions. Some employers actively recruit workers from online programs that are known for working-professional talent.

To be safe, avoid any program that seems too good to be true (like unaccredited “diploma mills”). Consider only schools recognized by the U.S. Department of Education (DOE) — you can verify accreditation through the Council for Higher Education Accreditation (CHEA) or the DOE database — and you’ll earn a master’s degree that carries full credibility without a high price tag.

Are affordable master’s in accounting degree programs lower-quality than expensive programs?

Not necessarily; price doesn’t always equate to quality in higher education. Many state universities and non-profit schools offer low tuition rates for online programs while maintaining high academic standards. These programs often use the same curriculum and textbooks as more expensive schools. Accreditation is a great equalizer — an affordable AACSB- or ACBSP-accredited program goes through the same rigorous reviews as a more expensive program. As long as you conduct due diligence on a program’s reputation and accreditation, you can absolutely get a high-quality education at a bargain price.

Additionally, outcomes like CPA exam pass rates and graduate employment can be on par with (or better than) expensive programs — for instance, graduates from WGU’s affordable MAcc degree program have above-average CPA pass rates. The difference in cost might come down to a school’s funding (public subsidies, etc.) or online delivery efficiency, rather than “you get what you pay for.”

What financial aid options are available to help me pay for an online MAcc degree program?

Several financial aid avenues are available to make an accounting master’s degree program more affordable. You should submit a FAFSA form first — graduate students are eligible for federal financial aid, primarily in the form of student loans. You can get low-interest Direct Unsubsidized Loans of up to $20,500 per year, and you can also use Graduate PLUS loans to cover the remaining costs (PLUS loans can finance up to the full cost of attendance, minus other aid). Many students also pursue scholarships and grants. Look for scholarships from professional organizations (e.g., the AICPA offers $3,000 to $10,000 scholarships for aspiring CPAs) and your school. Some online programs offer scholarships specifically for online or graduate students — don’t assume that scholarships are only available to undergraduates. 

If you’re working, check to see whether your employer offers tuition reimbursement (many companies pay a portion of graduate school tuition, often up to $5,250 per year, tax-free. And if you’re military personnel or hold a public service role, look into benefits like the GI Bill or Public Service Loan Forgiveness for federal loans.

Will an affordable online MAcc degree program prepare me for the CPA exam and licensing?

In most cases, yes, as long as you choose a program that covers the necessary ground. A typical requirement to become a CPA is 150 college credit hours and specific accounting coursework. The schools and affordable programs highlighted above ensure that students meet the educational requirements for CPA licensure. Many programs integrate CPA exam review materials or structure their courses around CPA exam content.

When evaluating programs, check their course lists against the CPA “exam blueprint” — a good program will cover advanced financial accounting, auditing, regulation (taxes), and business environments, which coincide with the four sections of the CPA exam. Students should also check whether their program offers CPA exam pass rate data or support for taking the exam (some schools provide mentors or help you register for the exam).

An affordable program can prepare you as well as an expensive one; passing the CPA exam ultimately depends on your effort and ability to use the knowledge that your courses provide. Ensure that your school/program is recognized by your state’s board of accountancy — virtually all regionally accredited programs are — so your credits count toward the requirements for a CPA license.

What can I do career-wise with a master’s degree in accounting, and is it worth it?

A master’s degree in accounting can lead to a range of careers and often accelerates your advancement. With this graduate degree, you’ll be more qualified for higher-level roles than someone with only a bachelor’s degree. Common career outcomes include becoming a CPA at a public accounting firm (a master’s degree and a CPA license are often needed for senior accountant and manager roles). Graduates can also work as corporate accountants or financial analysts, forensic accountants, auditors, or tax specialists.An accounting master’s degree can also help you obtain positions like controller, finance director, or CFO, especially when combined with a CPA or Certified Management Accountant (CMA) credential. In terms of salary, those roles command significantly higher pay. For example, accountants and auditors earned an annual median salary of over $80,000 in 2024, according to the U.S. Bureau of Labor Statistics. But, moving up to a managerial position can boost salaries into six figures. Some employers prefer or require a master’s degree for senior roles, so having that degree can give you a competitive edge for promotions. If you choose an affordable program, the return on investment (ROI) is generally very good — a modest tuition cost can lead to a big jump in lifetime earnings.

Paying for an Online Accounting Master’s Degree Program

After choosing an affordable program, why not save more? There are plenty of strategies to lower the cost of an accounting master’s degree program beyond the cost of tuition. From tapping into free money to leveraging employer benefits and tax breaks, a savvy student can chip away at the bill and possibly graduate debt-free.

Below, we outline five effective ways to save money on an online MAcc degree program. These tips include concrete resources and links — from scholarship programs to IRS tax credits — that can help you finance a program. Every dollar counts when investing in your education, so consider combining several approaches to maximize your savings.

1. Apply for Scholarships and Grants

Start by looking for scholarships that are specifically designed for accounting and graduate-level study — this is essentially free money that you don’t have to pay back. A great example is the AICPA Foundation Scholarship for Future CPAs, which awards $5,000 to $10,000 to accounting students who pursue CPA licensure.

Scholarships for particular groups (like the AICPA Scholarship for Minority Accounting Students and state CPA society scholarships) are also available. Use databases like This Way to CPA (from the AICPA) or your school’s financial aid page to find opportunities. Don’t overlook university-funded grants and assistantships: some online programs offer small scholarships to their students or graduate assistant roles that come with tuition waivers. Students should apply early and often, as scholarships can help reduce the cost of degree programs. Set a goal to apply for several scholarships each month, and treat it like a part-time job that pays off in reduced tuition.

2. Take Advantage of Employer Tuition Assistance

Check whether your employer offers an education benefit if you’re a working professional. Many companies — especially in finance and accounting — reimburse employees for part of their tuition. Under U.S. tax law, employers can provide up to $5,250 annually in tax-free educational assistance for each employee. So, your company could pay $5,000 of your tuition each year, and you won’t owe taxes on that amount. Some large accounting firms and corporations exceed that amount (or have separate programs for MBA/MAcc support). Talk to your HR department or manager to see if a tuition reimbursement plan exists. If it does, ensure you understand any conditions (for example, you might need to earn a certain grade or continue to work at the company for a specific period after you graduate).

Taking full advantage of employer tuition assistance can drastically cut your out-of-pocket costs — for instance, $10,500 of a two-year master’s degree program could be covered, tax-free. If your company doesn’t have a formal program, it’s worth discussing your educational goals with your manager. They might be willing to support you in other ways, like giving you a flexible schedule or a partial sponsorship, because a master’s degree can enhance the skills needed for your job.

3. Fill out The FAFSA

Completing a FAFSA form isn’t just a good idea for undergrads — graduate students should do it, too. While need-based grants (like Federal Pell Grants) don’t apply to graduate-level study, you can access federal student loans, which usually have lower interest rates and more flexible repayment plans than private loans. Every year, graduate students can borrow up to $20,500 in Direct Unsubsidized Loans. These loans are not based on financial need (almost everyone qualifies), and you can defer repayment until after graduation.

If you need more funds beyond that, you can consider a Grad PLUS Loan, which can cover the remaining tuition and fees, up to the program’s cost of attendance. Students must pass a credit check in order to qualify for a PLUS loan, but most applicants are approved. Another federal aid option is Federal Work-Study, which some schools offer for master’s degree programs. You can get a part-time job to help cover expenses. (These jobs are often campus-based, but can possibly be remote for online learners.)

Finally, by filling out a FAFSA form, you become eligible for any state-level aid or school-specific aid that uses FAFSA data. It’s worth the few hours that are needed to fill it out; if you don’t like accepting loans, knowing your federal loan eligibility gives you a safety net so you can pay tuition on time and avoid late fees or higher-interest alternatives.

4. Choose Affordable Programs and Transfer Credits

One straightforward way to save money is choosing a program with lower tuition or special pricing for online students. For example, some public universities charge in-state tuition rates for all online enrollees or have one flat rate nationwide. (CSU Global, mentioned above, charges $675 per credit with no extra fees for everyone — so you don’t need to pay out-of-state premiums). Picking a program like that one can save you thousands of dollars, compared to an out-of-state rate elsewhere.

Additionally, students should see if they can transfer any credits into their master’s degree program. Maybe you took some graduate courses as an undergrad or earned a graduate certificate. Many MAcc programs accept transfer credits. (CSU Global allows up to 15 transfer credits toward their Master of Professional Accounting degree program). Every credit you transfer is one less you have to pay for.

Also, if your school allows it, consider taking a College Level Examination Program (CLEP) exam or utilizing other credit-by-exam programs for prerequisite courses. This is more common at the undergraduate level, but you might be able to test out of a few foundations of accounting or business courses, which leads to saving on tuition costs.

5. Claim Education Tax Credits

When tax time comes, don’t miss out on credits that can put cash back in your pocket. The major credit for graduate students is the Lifetime Learning Credit (LLC). It’s worth 20% of your tuition and fees — up to a $2,000 annual credit. For example, if you paid $10,000 in eligible tuition this year, you could get a $2,000 reduction in your federal taxes, like $2,000 off your tuition bill. To qualify, you need to have some tax liability (it’s non-refundable beyond zero tax) and meet income requirements (for 2025, the full credit is available up to approximately $80,000 of income for single filers). Ensure your school provides you with a 1098-T tax form each year and keep receipts of your expenses. You need to fill out IRS Form 8863 to claim the LLC.

If you’re in your first year of graduate school and completed less than four years of college previously, you might qualify for the American Opportunity Tax Credit (but it’s designed mostly for undergraduate students). For most MAcc students, the LLC is more applicable. Also, if you’re working and your employer’s tuition reimbursement exceeds $5,250, that excess will show up as taxable income — but your tuition payments could potentially count toward the LLC since you effectively paid that portion.

Education expenses can also count toward a tax deduction if you itemize your deductions or the education is work-related. (Talk to a tax advisor about your situation). But, at minimum, students should take advantage of the Lifetime Learning Credit each year that they pay tuition — it’s a straightforward way to recoup some of your costs via a lower tax bill.

Ranking the Best Online Master’s Degree Programs in Accounting

Affordability is just one piece of the puzzle — you also want a program that offers quality and support. So, the OMD team compiled a ranking of the most affordable online master’s degree programs in accounting. To create this list, we analyzed data from the U.S. Department of Education and over 7,700 colleges and universities. Per our methodology, we looked at tuition and fees, financial aid availability, the number of online programs offered, accreditation status, and each school’s student services (like academic advising and career counseling). The result is an up-to-date ranking of top-value accounting master’s degree programs that deliver excellent education without a high price tag.