2024’s Most Affordable Online Master’s in Computer Science Programs

Funding Your Online Master’s Degree in Computer Science: 5 Ways to Save

There’s more to college affordability than just low tuition rates. If you’re serious about saving money on your master’s degree, you must also factor in the many financial aid opportunities and payment options available with each program. Here’s a look at five of the most common ways to fund your online master’s degree in computer science:

Apply to scholarships, grants, and fellowships created for Computer Science Master’s students.

There’s no better way to lower the cost of your college education than through “free money” funding sources like scholarships, grants, and fellowships. Unlike loans, students who receive these do not have to pay them back. Scholarships and fellowships are typically merit-based while grants are usually based on financial need. For more on these funding sources, visit OMD’s scholarships and resources guide for master’s degree students.

Work-Study or Assistantships

Staples of most college and university graduate school departments, assistantships, and work-study programs help fund many students’ masters’ degrees. Assistantships are normally based on student merit and program need, and compensation comes as money stipends and tuition/fee waivers. Work-study jobs are for students with demonstrated financial need. Both funding opportunities are harder to find for online computer science master’s programs, but they do exist. Boston University’s partially online MS in Computer Science, for example, makes research assistantships available to online students.

Employer Tuition Reimbursement Programs

Employer tuition reimbursement programs provide employees with financial support to pay for a portion of their education costs in return for, in most cases, continued employment with the employer during and/or after the reimbursement period. Like with the Online Computer Science Master’s Degree Program at Rice University, your computer science master’s program may work directly with employers to provide tuition reimbursement opportunities. Speak with your supervisor or HR office about the availability of tuition reimbursement from your employer.

Payment Plans

Tuition payment (i.e., installment) plans allow students to make incremental payments over the term instead of all at once upfront. These plans may or may not charge interest, but you’ll most likely have to pay an enrollment fee. Arizona State University and the Georgia Institution of Technology both offer tuition payment plans to their online computer science master’s students.

Paid Internships

Internships provide computer science master’s students the opportunity to gain professional experience with real companies in a range of industries. They are often part of the curricula of master’s in computer science programs. Internships may be mandatory as part of capstone projects in non-thesis programs or optional. For students, it is their responsibility to land an internship independent of the degree program itself. The majority of internship opportunities are often well-paid positions.