EMERYVILLE, Calif., March 21, 2018 /PRNewswire/ -- The success of a low-cost online master's degree program at the Georgia Institute of Technology has demonstrated the unique needs of online degree-seekers. According to a study of the program, the online computer science degree did not appear to draw away any of the on-campus student body from their higher-tuition courses. However, despite the success of this program, many online degrees remain expensive. American Financial Benefits Center (AFBC), a document preparation company that helps student loan borrowers apply and recertify for federal programs that may lower payments, encourages borrowers who want to further their education online to seek out affordable options.
"So many online programs are just as expensive—or more so—than on-campus degrees," said Sara Molina, Manager at AFBC. "But for people who already have student loans, these are the only options for furthering their education that fit into their lives."
The master's degree program at Georgia Tech in question is one of the biggest of its kind, with upwards of 6,000 enrolled students. Students are paying around $6,600 for their degree. This degree is becoming popular as massive online open courses (MOOCs) become popular, which also offer lower-cost learning experiences. While the master's program is not open to everyone, it is more accessible in the same way MOOCs are. Students in the Georgia Tech program and enrollees of MOOCs are often working individuals who are looking to advance their careers with a new credential.
However, a lot of online degrees are still pricey. Tuition and fees vary widely with each institution, but this website cites $29,000 as the cost of an online graduate degree from a public university. Though the online student may be able to work concurrently and forgo the expense of moving or living near campus, an online degree may still be burdensome.
AFBC urges any student loan borrower to seek out more affordable options that work for them. While quality should not be ignored, lower-cost master's degrees or MOOCs that offer certificates may be good alternatives to expensive online advanced degrees. Many online programs can be financed with federal student loans, but AFBC asks current borrowers to be careful before adding to their debt balance.
AFBC helps clients apply for and recertify enrollment in federal repayment plans intended to keep their payments affordable. Borrowers in these plans are obligated to make payments on their loans which are calculated based on income and family size.
"AFBC helps clients maintain enrollment in federal repayment programs by assisting with annual recertifications that are intended to keep the borrowers up-to-date with the loans they have now," said Molina. "And we want to encourage smart decisions in all areas of life, including when it comes to getting more education or possibly taking on more debt."
About American Financial Benefits Center
American Financial Benefits Center is a document preparation company that helps clients apply for federal student loan repayment plans that fit their personal financial and student loan situation. Through its strict customer service guidelines, the company strives for the highest levels of honesty and integrity.
AFBC is a member of the Association for Student Loan Relief (AFSLR), and each representative on the phone has received the Certified Student Loan Professional certification through the International Association of Professional Debt Arbitrators (IAPDA).
To learn more about American Financial Benefits Center, please contact:
American Financial Benefits Center
1900 Powell Street #600
Emeryville, CA 94608
SOURCE American Financial Benefits Center