| Over the past 10 years, we have seen many | | | | Jump 10 years to 2009, online universities now form |
| changes within the online educational community. | | | | a vital part of the educational landscape. Many |
| Competition have increased has increased significantly | | | | employers are now encouraging their employees to |
| with many traditional universities entering the market | | | | take advantage of online universities as they can |
| by offering online versions of their on-campus | | | | improve their qualifications without disrupting their |
| programs. In addition, the general cost of education | | | | work schedule. As a result, the forces of supply and |
| has escalated due to the effects of inflation and | | | | demand kick in as the increase in demand results in |
| technological advancements. Online universities have | | | | individuals willing to pay more for their education. |
| had to include marketing departments in their | | | | Statistics show that currently in the year 2009, online |
| operations to seek out new markets to maintain | | | | students will have to fork out tuitions fees averaging |
| their market share and most naturally, these | | | | $30,000 for public online institution and $45-50,000 for |
| expanses are transferred to the pockets of | | | | private institutions. This shows an average of a 50 to |
| students. | | | | 60% increase in ten years. |
| The cost of online education is also influenced by the | | | | If we conduct a more in-depth study based on the |
| popularity on the university. As online universities | | | | types of online degree programs, we see an even |
| become more experienced in the art of online | | | | more disturbing trend. The cost of bachelor’s |
| education, they are able to improve their product. | | | | degree stick to the average trends of 50 t 60% but |
| This will in turn increase their influence on the market | | | | graduate programs see an increase of 102% over |
| as students who desire the best level of education | | | | the past ten years. This is due to the significant |
| flock to these online universities that have the most | | | | increase in demand for postgraduate degree |
| influence within the business sector. Changes in | | | | programs by working professionals. These individuals |
| Student Budget over the Years | | | | have to increase their educational arsenal to remain |
| To gain a better understanding of the changes in | | | | competitive against younger and more technologically |
| student budgets we can compare cost of online | | | | advanced kids leaving high school. The fact that they |
| tuition from 1999 compared to that of 2009. On | | | | can study without disrupting their work patterns has |
| average, in 1999 that cost of online degree programs | | | | proven to be a hit among this target group. Another |
| stood at $10,000 for public institutions and $20,000 | | | | factor that affected the cost of postgraduate |
| for private institutions. During that time, online | | | | programs is that some online universities factored the |
| universities were not fully accepted within the | | | | improved salaries that graduates gain after the |
| business communities as online universities were still | | | | completion of a postgraduate degree program. Thus, |
| going through growing pains and not all had the | | | | they decided that these students would be prepared |
| relevant accreditation from the various boards. | | | | to pay for these opportunities. |