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The Financial Benefits of a Distance Learning College Education

by Edward Castro
Online Education Columnist

According to a report by The College Board, the cost of four-year tuition at a public college or university in 2002-2003 was around $16,324, while the cost of four-year tuition at a private college or university was $73,092.

Get What You Pay For

For many, getting the most bang for their college buck begins with investigating the benefits of college through distance learning. Distance learning is quickly becoming one of the best ways for working adults to further their education while making the most of their time and money.

Going the Distance for Education

One way to avoid at least some of the economic burden of earning your college degree is through distance learning. For working adults, distance education means you won't need to quit your current job, so you can keep earning the money you count on while you're in school. Distance education can also decrease or eliminate transportation costs associated with commuting to a school campus since it's all done from the comfort of your own home.

Best Investments: College Degrees and Distance Learning

Salary.com reports that the average salary for a high school graduate was around $26,000 in 2003, while the average salary for an employee with an associate's degree was $33,000. It may only be a difference of $7,000 per year, but over the course of your lifetime, that can really add up.

Degrees of Success: The Best Distance Learning Degrees

Which distance education degrees are the best investments? Based on the cost-to-benefit ratio, an associate's degree is a great place to begin your investigation into distance learning, but don't stop there. A bachelor's degree means an average salary of $43,000 and a master's degree, $53,000, so every investment in education you make can have a significant financial impact.
With distance learning there's no limit to your education and your financial future.
Sources:
The College Board
Salary.com

Edward Castro is a freelance writer specializing in new technology, entertainment, and the World Wide Web. He currently assists entrepreneurs in using the Web.

Employer-Funded College Education: Another Work Benefit

by H. Staples
Online Education Columnist

Busy working but want to develop your career through education? Ask your employer about college tuition reimbursement--you might be able to get the college education you want at no cost to you. With more and more employers recognizing that education can build valuable business skills, many employers now offer tuition reimbursement, allowing both you and your employer to profit from your education.

Corporate Tuition Reimbursement

Often when you attend college classes related to your job, your company will reimburse the money you pay for college. Bank of America, for example, helps employees attend college by offering a tuition reimbursement program that covers 100% of college tuition and related expenses. Ask your company if they have a tuition reimbursement program that could help you pay for college courses or even a degree.

Business-University Partnerships

In addition, some companies partners with universities to offer degrees, allowing you to earn your college degree, on your company. In these programs, you attend college classes (often at your work site) that fulfill degree requirements specific to the program, and your company covers your expenses. Soon, you'll have earned your college degree without paying any money for college. Ford Motor Company offers such an opportunity, allowing employees to earn a college engineering degree. Check with your company to see if they currently offer a program, and the next time you're in the market for a job, look for a company with education benefits like these.

Part-Time Jobs Even Offer College Money

If you need money for college, you might take up a short career with a company that helps employees cover expenses. Pick up a part-time job at Starbucks, for example, and you will receive money for college after a year of employment. Many employers do have a waiting period before they will help develop your career by paying for your college work, and benefits vary with respect to which college you can attend and what course of study you enroll in. Read the reimbursement policy carefully to figure out whether they will cover your expenses.

Don't Give Up Without Negotiating

If your company isn't willing to pay for the college work you'd like to do, pursue the matter further. Point out that college classes can make you a better employee, and your education will ultimately profit them. Perhaps draw your employer's attention to the Ford Motor Company website, which states, "people are our most valuable assets, and developing their talent makes plain business sense."
Sources:
My Career/Ford Motor Company
Media Ford Motor Company

H.L. Staples teaches at Syracuse University in on-campus and distance learning formats. Her articles have appeared in The Boston Review, Denver Quarterly, The Georgia Review, and elsewhere.