10 Most Affordable Online Colleges of 2024

Many people earn their degrees online these days. If you've earned your online degree from an accredited college, employers will consider it just as legitimate as a degree earned on campus.

But college can be expensive, and many students rack up thousands of dollars in student loan debt. According to the Department of Education, the average federal student loan debt was $37,850 as of March 2024. It's more than doubled since 2007 when it was $18,233.

To assist you in your search, we have compiled a list of the top 10 most affordable online colleges. Our rankings take into account various factors such as student outcomes, program options, and student-to-faculty ratios.

10 Cheapest Online Colleges

No. 1 School: Southern New Hampshire University

SNHU tops our list of the most affordable schools. A private university with over 145,000 students, SNHU is one of the country's largest degree-granting colleges and universities. Founded in 1932, SNHU operates from Manchester, New Hampshire.

The Student Experience

SNHU leads the way with 78 online bachelor's and master's degree programs, surpassing all other schools on our list. Its top online programs are psychology, healthcare administration, accounting, and general studies. Over 30 of these programs hold programmatic accreditation. SNHU ties with several other schools on our list for having the fourth-lowest student-to-faculty ratio — 22-to-1.

SNHU offers accelerated bachelor's-to-master's options in six fields: accounting, communication, finance, marketing, nursing, and sport management. Students in these programs take graduate-level courses at the undergraduate tuition rate.

Private Education for a Low Tuition

SNHU is the only private school on this list. Although private schools are generally more expensive than public schools, according to the National Center for Education Statistics (NCES), SNHU is still more affordable than the average private school.

Undergraduate tuition and fees at SNHU were $16,450 during the 2023-2024 school year. In the previous academic year, tuition and fees were slightly less at $15,380, which was 62% less expensive than the average for all private nonprofit institutions that year, $40,700.

That said, SNHU does have room for improvement. SNHU's net price, percentage of students taking out federal loans, and amount of scholarship and grant aid awarded ranked outside of the top five on our list.

Explore SNHU's Online Programs

No. 2 School: University of Florida

UF, a large public university in Gainesville, Florida, is second on our list of the most affordable online colleges. With an enrollment of more than 55,000 students, it's the second-largest school on our list. UF is a land-grant research university, one of only 38 public schools belonging to the prestigious Association of American Universities.

Tight-Knit Student Experience

UF offers 62 online degree programs, including 40 graduate programs — the most on this list. Seven of UF's online programs hold programmatic accreditation. Despite its large enrollment, UF has the lowest student-to-faculty ratio on our list, 16-to-1. This translates to small, intimate classrooms that foster a strong sense of community and support.

"The learning environment at UF is collaborative, and characterized by a commitment to academic excellence and innovation," said Claudia Bare, a 2024 grad. "The professors I had throughout school truly cared about their student's academic success."

Big Savings for Online Students

UF has the fifth-lowest net price out of the schools on our list, with in-state undergraduates paying an average of $11,521 after aid. The university also has the fewest students taking out federal loans and the second-highest percentage of students receiving scholarship and grant aid. Online students save 40% on tuition compared to on-campus students. UF also offers dozens of scholarships, including the Florida Bright Futures Scholarship.

Explore UF's Online Programs

Affordability Spotlight

Two other attractive options are available for online students. San Diego State University and the University of West Florida are noteworthy contenders when it comes to cost and financial aid.

San Diego State University

SDSU is a large public university in San Diego, California, enrolling over 37,000 students. SDSU has the highest percentage of students receiving grant and scholarship aid: 89%. SDSU offers over 700 scholarships to help students pay for school, such as the Aztek Scholarship.

SDSU's average net price for in-state undergraduates, $19,500, is higher than the national average for all public universities. But only 23% of students take out federal loans. Certain students may be eligible for financial aid benefits through the California Dream Act or be exempt from paying nonresident tuition.

Explore SDSU's Online Programs

The University of West Florida

The University of West Florida, a mid-sized public university in the city of Pensacola, is the most budget-friendly online college in our ranking. UWF's average net price of $8,908 for in-state undergraduates is roughly half of the national average.

UWF offers tuition waivers and aid, including for non-Florida residents and international students. Tuition waivers are a type of financial aid that covers part or all of your tuition expenses, even if you still have other costs like fees, room, and board. Students can qualify to get up to 90% of their costs covered.

Explore UWF's Online Programs

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Frequently Asked Questions About the Cheapest Online Colleges

How do I choose the best affordable online college for me?

Finding the best affordable online colleges involves research, self-reflection, and deliberation. First, gather information about different colleges, their accreditation, and the programs they offer.

Next, ask yourself what you want to achieve, what kind of learning environment you thrive in, and if you have any dealbreakers. Finally, weigh the pros and cons of each college and program. You'll need to consider factors like cost, flexibility, and support services.

How much does an online college degree cost?

In 2022-2023, public four-year universities cost $9,800 on average, a $600 decrease from a decade earlier, according to NCES. Private nonprofit universities cost $40,700, up $3,100 from 2012-2013. Online students may avoid some fees but face other costs, such as technology and textbook fees.

How can I make my online degree more affordable?

There are several ways to make an online college degree more affordable. You can apply for financial aid and determine your eligibility for federal loans and grants. Attending a public school in your state may lower tuition rates compared to private and out-of-state schools.

Some online colleges offer discounted rates for all online students. Part-time or accelerated programs may also reduce upfront costs. Taking general education classes at a community college and transferring credits to a four-year university may lower the overall cost.

Is it cheaper to attend college online?

Depending on several factors, online college can be cheaper than traditional college. For example, some colleges charge lower tuition rates for online courses. Attending an out-of-state college online could also come with a lower price tag than attending that same college in person.

Make sure to check tuition rates for any online programs you're interested in and compare them to any in-person equivalents.

Is it worth it to go to online college?

Online college can be worth it if you're interested in earning a degree and are OK with skipping the traditional campus experience. Online courses are as academically rigorous as in-person ones. They also offer extra flexibility for full-time workers, parents, and caregivers.