Online Bachelors Degree

Online degree savings calculator

I wish there was a magic calculator that could automatically factor to the penny each of your scenarios but their isn't so we have to look at your circumstances individually and go from there.

To calculate the savings of obtaining an online bachelors degree (or masters) while you work, compared with taking time off of work or quitting your job, so that you can get your degree on campus you need to take the following into account.

How much do you currently make?
How much do you pay in income taxes?
What is the yearly Tax Deductable allowance in your state (or if outside the United States check with your country)?
What are your current expenses? Be sure to break these down into costs that would be cut down if you went to school. For example if you worked during the day and had class work in the evenings would you really spend the same amount on going to movies, renting movies, eating out, driving around to meet up with friends? These are all areas that you can cut down on your expenses, especially when you have less time.

Then factor in your ability to pay your tuition from your earnings or at least your ability to pay down your student loans while you work.

Additionally factor in the time spent looking for a new job after you get your degree. If you are still working you can either move up in your job or keep working as you search for a better paying and more rewarding job.

There are some great articles on saving money while going to school which we summarize in our student finance section, be sure to check them out too.

If you are planning on attending an on campus college or university and it is out of state or country you may be subject to higher tuition fees