Online Education Graduate Degree

Statistics from the U.S. Census Bureau reveal that aonline master's degree programs and found that the
person who holds a graduate or master's degree cancost for education could range from $2,760 to
expect to earn about $55,000 per year. People$110,000 for an accredited degree. However,
holding a bachelor's degree can expect to earngraduate degree students can explore several
around $46,000 per year. The average benefit foroptions for tuition assistance, including:
holding a graduate degree can raise a person'sTuition Reimbursement. The National Center for
income about $225,000 over a period of 25 years.Education Statistics found that almost 20 percent of
This rate of return clearly shows that it is a solidall graduate students receive aid from their
investment to pursue a online graduate degree. Onlineemployers. Potential online education graduate degree
education graduate degrees enable busy adults tostudents should consult with the human resources
attain a higher education while still maintainingdirector of their company about tuition
employment to earn a living.reimbursement programs and company scholarships
Requirements to Pursue an Online Education Graduatethey may qualify for.
Degree - To earn a graduate degree online, studentsLabor Unions. Over 60 labor unions, through 38,000
need to be well-organized self starters who cannational chapters, offer $4 million dollars in educational
manage their time and review course materialfinancial aid. If a student belongs to a union, the web
independently. Online students also need full access tosite at can offer leads to Union-Sponsored
a computer with a 56 kbps modem or better, withScholarships and Financial Aid.
Internet service and virus protection. StudentsFinancial Aid. There is even state and government
attending school online should be able to use emailfinancial aid available for certain distance learning
and basic Internet functions to communicate withprograms. The free government aid directory at can
professors and take online exams. Online educationhelp students locate resource centers in their state
graduate degree programs are delivered in aand offer information about financial assistance to
web-based format that is available 24 hours a daypay for college.
for the convenience of working students seekingLoans. There are government-backed Stafford
success.student loans that typically carry the lowest interest
Validity of Online Education. In the 1994 study of R.rate. For example, the interest rate for a Stafford
Clark, and in the Pew Learning and Technology Studyeducation loan in 2003 was only 3.42 percent.
'Innovations in Online Learning' by Carol Twigg in 2001,Students seeking Stafford loans should consult the
they concluded that if the online course wasfree annual publication, the Student Guide to Financial
designed with the same rigor as one taught in aAid. Private student loans are also offered through
face-to-face environment, the outcome is likely to befinance companies such as KeyBank or Citibank, but
equivalent. Further, the standards for undergraduatethey usually charge higher interest rates and require
education are defined by the Seven Principlesstudents to pass a credit check.
developed by Chickering & Gamson (1991).Tax benefits. There are also significant tax benefits
These seven principles were updated to show howavailable to online education graduate degree program
to implement these ideals in online educationstudents. Interest on student loans may be tax
(Chickering & Ehrmann; Graham, et al. 2001). Indeductible during the first 60 months of the period to
2002, the Ohio Learning Task Force issued a reportpay them back. Eligibility for this tax benefit can be
that recommended principles derived from Chickeringdetermined by checking the IRS Publication 970: Tax
& Gamson were to be used to design, approve,Credits for Higher Education. Further, under the
assess and review all courses, whether in person, orLifetime Learning Credit, students may be eligible to
online, or a blend of both. The Seven Principles a)deduct up to 20 percent of the first $10,000 of
encourage contact between students and faculty; b)graduate tuition from federal taxes. Also, some or all
encourage active learning; c) encourage cooperationtuition expenses may be deducted if an employer
between students; d) give feedback promptly; e)requires additional education to maintain the student's
communicates high expectations; f) emphasizes timecurrent professional status. Students can review IRS
on task; and g) respects diverse ways of learningPublication 970 for guidelines, or consult with an
and talents. Therefore, online education graduateaccountant to see what portion of tuition for college
degrees follow the same criteria as those earned atcan be deducted from their taxes.
a physical college campus, so they are equally viable.When a potential student considers the ease of
Cost of Online Education. Getting an online educationearning an online education graduate degree, along
graduate degree can be more affordable thanwith the improved financial status as a result of
attending a physical college campus because thereattaining this degree, it is clearly a wise decision to
are no costs for transportation or housing. In 2004,pursue virtual learning.
an online resource site took a sample size of 120