![[geo-in-name] Average Cost of a Master's Degree](https://www.gradschools.com/wp-content/uploads/2021/12/financial-aid-cost-of-a-masters-degree.jpg)
How Much Does a Master’s Degree Cost?
Average Cost of a Master’s Degree by Subject
Factors That Impact Cost
Check out the various costs of popular graduate programs below and some partner programs that offer each type of degree.
Easing the Cost
Master of Business Administration (MBA)
Master of Education (MEd)
Some states require that teachers earn a master’s degree after obtaining a full-time teaching position.
As a result, many MEd or Master of Science in Education (MSEd) students are full-time teachers seeking to examine various concepts more in-depth in order to reach their students more effectively or to learn the key concepts of school administration.
Check out some of the sponsored schools below that offer MEd or MSEd programs.
Purdue University
Tuition Per Credit (2018-2019): $347.85 – $948.30 (Resident to Non-Resident)
Purdue University offers a variety of Master of Science in Education (MSEd) programs, including an MSEd in Curriculum Studies that explores cultural, political, and economic dimensions in education. The program focuses on the theories and practices of teaching and learning, as well as research that examines curriculum design and evaluation. In addition, Purdue offers a number of subject-specific MSEd programs.Featured Education Programs:
- MSEd in Curriculum Studies
- English Education
- Social Studies Education
- Science Education
- Special Education
Master of Science in Nursing (MSN)
Check out some of the sponsored listings below that offer MSN programs, the 2018 tuition, and unique aspects of the program.
Master of Science (MS) in Psychology
Notre Dame de Namur University
Graduate Tuition Per Credit (2018): $896
The Master of Science in Clinical Psychology at Notre Dame de Namur strives to develop the whole person throughout the lifespan. Grounded in an integrative approach to psychology, the program emphasizes the interdependence and well-rounded curriculum that combines:- Academic
- Theoretical
- Learning approaches
Featured Psychology Programs
- Master of Science in Clinical Psychology
Loyola University of Chicago
Graduate Tuition Per Credit (2018): $1,033
The Master of Arts (MA) in Applied Social Psychology at Loyola offers rigorous training and includes a commitment to an education that values human diversity. The program focuses on teaching how to identify significant problems, how to design and implement changes to alleviate those problems, and how to apply social psychology to various issues such as:- Health care
- Community affairs
- Education
- Profit and non-profit organizations
- Criminal justice
Featured Psychology Programs
- Master of Arts (MA) in Applied Social Psychology
Master of Science (MS) in Cybersecurity
Other Costs and Fees of Earning a Master’s Degree
Besides tuition, unfortunately there are other costs of earning a master’s degree that some students may not consider.
Some of these additional fees are listed below. However, keep in mind that every school has their own tuition and fee policy, so that those listed may not apply to all schools. In addition, some schools may have additional fees.
Course Materials
Regardless of the type of degree you pursue, you will have course materials you need to buy or rent.
This can include books, computer programs, or even notebooks and pens. In some cases, you may need to upgrade your computer or internet connection if you decide to pursue your degree online.
Per Semester Fees
Nearly all graduate schools have some types of fees that are not included in their listed tuition. These fees can cover a variety of subjects and vary by school, but usually include some or all of the following:
- Technology
- Graduation
- Background check
- Extended payment plan
- Student ID
Potential Lost wages
One thing that may keep many students from pursuing a master’s degree is the potential loss of income.
This can have an impact especially to those who have families and children, but it’s a consideration of all potential students.
If you decide to attend graduate school full-time, it is highly unlikely that you can continue working full-time. However, many schools provide you with a variety of options to work around your busy schedule and your responsibilities.
Some of these options include:
Besides those options, many programs offer online or part-time options to allow you to pursue your degree at your pace.
Commuting Costs
If you choose to pursue your degree through an on-campus program, a hybrid program, or an online program that requires residency, you will have associated costs. These may include:
- Parking
- Gas
- Wear and tear
However, this is another benefit of pursuing your master’s degree online, which can reduce these costs.
Ways of Reducing the Cost of Your Master’s Degree
Scholarships
Some of these options include scholarships from:
Grants
Loans
In order to receive student loans from the federal government, you will need to complete the FAFSA and follow the process.
For private student loans, typically offered from banks and other financial institutions, you usually need to complete an application, which may include financial records. If you don’t have enough of a credit history or a high enough credit score, you may need to find a cosigner to be approved.
Employer Benefits
Some employers may offer educational reimbursement as part of their compensation package. However, if you’re lucky enough to be at one of these companies there are many things to consider.
For instance, every company has a unique policy. Some companies may cover only a portion of your tuition or only if you are pursuing a degree that applies to your current position.
This may not help you if you’re trying to switch careers, but it’s always worth looking into. The best way to learn about your company’s policy is to talk to your manager and HR department.
Benefits of Earning a Master’s Degree
#1: Lower Unemployment Rates on Average
#2: Potential for Higher Median Earnings
#3: Specialized Knowledge
#4: Meet Potential Job Requirements
#5: Increase Professional Network
One of the most overlooked benefits of pursuing a master’s degree, and one of the most overlooked aspects of your career, is your professional network.
While earning your degree, you’ll meet like-minded people who are also looking to learn more about your field and industry. Making friends may help you find a job later on or help you find talented people for your company.
Either way, your classmates and professors offer a great opportunity for you to build your professional network.
Find the Perfect Master’s Program for You!
After analyzing the various costs of earning a master’s, and the potential increase in earnings, it’s time to take the next step.
Click on any of the sponsored programs on this page to contact the school directly.
Or, complete the form on this page and we’ll match you to the perfect program for you!