Author: Michael Hoffman, JD, MA
Expertise: Graduate Ed.Online LearningStudent SuccessEditor: Jordan Cosselman
- Funding Options
Funding Your Online Master's Degree in Computer Science: 5 Ways to Save
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FAQs about Affordable Master's Programs in Computer Science
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Most Affordable Online Master's in Computer Science Programs
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If you’re looking for a way to affordably launch or advance your career as a leader in the lucrative and expanding field of computer science, choosing a top program and finding the best funding options is essential. You also want a program that is fully accredited and able to help you reach your professional goals.
This guide introduces you to the most affordable online master’s in computer science degree programs. By affordable we don’t mean low-quality, though. These programs are offered by accredited colleges and universities throughout the U.S. Keep reading to find out how to earn your master’s in computer science without going broke.
Funding Your Online Master’s Degree in Computer Science: 5 Ways to Save
There’s more to college affordability than just low tuition rates. If you’re serious about saving money on your master’s degree, you must also factor in the many financial aid opportunities and payment options available with each program. Here’s a look at five of the most common ways to fund your online master’s degree in computer science:
Apply to scholarships, grants, and fellowships created for Computer Science Master’s students.
There’s no better way to lower the cost of your college education than through “free money” funding sources like scholarships, grants, and fellowships. Unlike loans, students who receive these do not have to pay them back. Scholarships and fellowships are typically merit-based while grants are usually based on financial need. For more on these funding sources, visit OMD’s scholarships and resources guide for master’s degree students.
Work-Study or Assistantships
Staples of most college and university graduate school departments, assistantships, and work-study programs help fund many students’ masters’ degrees. Assistantships are normally based on student merit and program need, and compensation comes as money stipends and tuition/fee waivers. Work-study jobs are for students with demonstrated financial need. Both funding opportunities are harder to find for online computer science master’s programs, but they do exist. Boston University’s partially online MS in Computer Science, for example, makes research assistantships available to online students.
Employer Tuition Reimbursement Programs
Employer tuition reimbursement programs provide employees with financial support to pay for a portion of their education costs in return for, in most cases, continued employment with the employer during and/or after the reimbursement period. Like with the Online Computer Science Master’s Degree Program at Rice University, your computer science master’s program may work directly with employers to provide tuition reimbursement opportunities. Speak with your supervisor or HR office about the availability of tuition reimbursement from your employer.
Payment Plans
Tuition payment (i.e., installment) plans allow students to make incremental payments over the term instead of all at once upfront. These plans may or may not charge interest, but you’ll most likely have to pay an enrollment fee. Arizona State University and the Georgia Institution of Technology both offer tuition payment plans to their online computer science master’s students.
Paid Internships
Internships provide computer science master’s students the opportunity to gain professional experience with real companies in a range of industries. They are often part of the curricula of master’s in computer science programs. Internships may be mandatory as part of capstone projects in non-thesis programs or optional. For students, it is their responsibility to land an internship independent of the degree program itself. The majority of internship opportunities are often well-paid positions.
FAQs about Affordable Master’s Programs in Computer Science
What impacts the affordability of an online master’s program?
One of the biggest factors of affordability is the generally lower cost of online learning itself. Other factors include residence, with public colleges and universities charging higher tuition rates to non-residents, and whether an institution is public or private since private schools generally charge higher tuition rates than public schools. Finally, financial aid also significantly impacts whether an online master’s program is affordable.
What is the ROI of an online master’s degree in Computer Science?
The ROI of your online MS in computer science depends on several variables, including the specific occupation and cost of the specific degree program, but you can expect a strong ROI for your master’s in computer science degree. According to PayScale, the current average annual base salary for workers with a master’s in computer science is $106,000, more than 20% greater than that for those with bachelor’s degrees ($88,000).
How can I ensure that an affordable Master’s in Computer Science program is high-quality?
Any discussion of a degree program’s quality starts with the subject of accreditation. Accreditation is how colleges and universities and their degree programs are determined to have met certain minimum standards of academic quality. There are two primary forms of postsecondary accreditation, institutional and programmatic. There are currently no accrediting agencies that specifically accredit computer science MS programs in the U.S. However, U.S. colleges and universities are institutionally accredited by several accrediting agencies recognized by the Department of Education. Make sure your degree is from an accredited school.
Is an online master’s degree more affordable than an in-person?
Some programs charge an additional fee for online courses while others feature discounted tuition rates for online programs. Also, some schools charge a lower tuition rate to out-of-state residents for their online programs than they do to out-of-state residents for on-campus programs. Most students find that their online master’s in computer science program is less expensive overall when compared to a traditional campus degree program simply due to savings on things like the cost of transportation to and from campus.
Can job experience count towards a master’s degree and help cut costs?
Job experience in the computer science field is a big plus and may be a prerequisite for admission to some online computer science MS programs. However, most online Master of Computer Science programs do not count work experience towards degree requirements. Inquire about credit for work experience when speaking to program reps.
How can I know if an affordable master’s degree program is right for me?
To start your decision process, ask yourself if a program will help you reach your career goals. Also consider the program’s features (e.g., if it’s fully online, program cost, completion time, etc.). Systematically investigating the various elements of any program of interest should help you determine whether a particular computer science master’s program is right for you.
Most Affordable Online Master’s in Computer Science Programs
Affordability is a major concern for most master’s students. Though it’s often the main focus, it’s also important to take into account other crucial elements when selecting an affordable online program. Our ranking of the most affordable online master’s in computer science programs below is based on data provided by the Integrated Postsecondary Education Data System (IPEDS), which considers affordability along with other quality-minded metrics. For details on how our rankings were calculated, click on the “About the Ranking” button below.