So you want an accounting degree, but you don't want to dig yourself into a student debt pit you can't climb out of.
That's smart: Over 43 million Americans have student loan debt. For many, that debt stands between them and their dreams of starting a family, buying a home, or saving for retirement.
Meanwhile, advanced degrees aren't getting any cheaper: According to the National Center for Education Statistics (NCES), tuition at public four-year schools was 10% higher in 2021 than in 2010.
But there are affordable programs out there that offer lower-than-average tuition, good financial aid, and in-demand training that will help you compete for great jobs when you graduate. We've ranked all the cheapest online accounting degree programs of 2023 to help you reach your goals without gutting your bank account.
What Factors Into the Affordability of an Accounting Bachelor's?
The primary factor that determines the affordability of an online accounting degree program is the total tuition cost. But other factors — like student enrollment status, program delivery format, school location, and financial aid availability — can also influence the net cost of your degree.
Here's how to think through those factors.
Enrollment Status
Many institutions charge a flat rate for full-time enrollees. In that case, you may be able to save money by taking heavier courseloads each semester in order to reduce the total number of semesters you pay for.
Some schools also offer accelerated programs, which make it easier to complete a degree in under four years.
Part-time enrollment may be a better choice if you have a job or caretaking responsibilities in addition to your studies. Some schools offer lower per-credit rates relative to their full-time flat rates, which can save you money in the long run.
Location
The average cost of tuition for in-state public schools is lower than for both out-of-state public institutions and private schools.
Some public institutions charge offer online learners in-state tuition rates regardless of where the student lives.
Fully online learning can also help students save money on relocation, commuting, and on-campus costs.
Delivery Format
Online courses are typically offered in two formats: synchronous and asynchronous.
Synchronous classes require set meeting times and often use web conferencing technology to foster real-time conversation.
Asynchronous classes allow students to complete coursework on more flexible schedules.
Financial Aid
Financial aid for college includes several types of assistance, including:
- Federal loans
- Private loans
- Work-study programs
- Grants
- Scholarships
You will have to pay back your private and federal loans, usually with interest. You won't have to pay back grants or scholarships, which are typically based on need, merit, or other criteria.
Grants and scholarships can have a drastic impact on your bottom line, so be sure to look into the accounting-specific scholarship options we've listed further down the page.
Cheapest Online Accounting Degrees
Choosing an affordable online accounting degree requires time and effort. Our ranking gives you a headstart by covering the top five programs.
Our ranking methodology takes into account accounting programs' affordability, reputation, and academic standards. You can learn about our methodology and individual program requirements below.
#1 Most Affordable Online Accounting Degree Programs 2023
Western Governors University
- Salt Lake City, UT
- 4 years
- Online
Known as the world's most student-centric university, Salt Lake City-based Western Governors University offers fully online, self-paced programs. The institution was founded in 1997 to help people learn anywhere, anytime.
Bachelor of Science Business Administration – Accounting
Western Governors University's BSBA accounting program is a combination of accounting coursework and management, finance, and human resources courses. The fully online curriculum is flexible with no set class times. Students can complete a course at their own pace and then take an assessment demonstrating their mastery of the material.
Completing the BSBA accounting program helps students earn 120 of 150 credits required to be eligible for the certified public accountant exam. WGU reports that graduates see an increase of $18,200 in salary after two years and $25,900 after four years.
WGU's Specializations
Business Management | General Education | Human Resources
WGU's Affordability
Instead of charging per credit, WGU charges per term, helping control the program expenses. Students can also complete the program as quickly as they want. The faster they learn, the less they pay for their degrees.
Program at a Glance
- School Type: Private
- Accreditation: Northwest Commission on Colleges and Universities
- Tuition: $3,775 per term
- Required Credits: 120
- Program Length: 6 months - 4 years
- Delivery Format: 100% online (asynchronous)
- Admissions
- Process: Apply online; Send in official transcripts; Complete financial aid application process; Complete intake interview
- GPA: 3.15
- Standardized Tests: None
- Cost: $65
Admission Rate
Not provided
Students Enrolled
147,866
Percent Online Enrollment
Not provided
Accreditation
Yes
Northwest Commission on Colleges and Universities
#2 Most Affordable Online Accounting Degree Programs 2023
The University of West Florida
- Pensacola, FL
- 4 years
- Online + Campus
Established in 1963, the University of West Florida is based in Pensacola and offers over a 100 undergraduate, graduate, and doctoral programs. As of 2021, the university had an enrollment of 13,265 students.
Accounting, BSBA
Offered on campus and online, the University of West Florida's BSBA accounting program combines core business courses, such as marketing and strategy, with financial accounting and auditing. Students may also choose to secure an accounting internship.
The program helps develop problem-solving and communication skills, while strengthening students' chances of passing the CPA exam on the first attempt.
The faculty at UWF's College of Business are CPA professionals who use their real-world experience to help students learn to apply their knowledge in the workplace.
UWF's Specializations
Communication | Mathematics | Social Sciences
UWF's Affordability
UWF offers merit- and need-based scholarships and grants. Military and veterans may qualify for additional educational benefits.
Program at a Glance
- School Type: Public
- Accreditation: Association to Advance Collegiate Schools of Business
- Tuition: $212 per credit (in-state); $514 per credit (out-of-state); $317 per credit (Alabama resident)
- Required Credits: 120
- Program Length: Up to 48 months
- Delivery Format: Hybrid (online and on campus)
- Admissions
- Process: Apply online; Pay the application fee; Submit official transcripts; Submit ACT or SAT scores; Complete the residency application; Submit a financial responsibility statement
- GPA: 2.70
- Standardized Tests: ACT or SAT
- Cost: $30
Percent Online Enrollment
97%
Percentage of all students who are enrolled online.
Accreditation
Yes
Southern Association of Colleges and Schools Commission on Colleges
#3 Most Affordable Online Accounting Degree Programs 2023
Thomas Edison State University
- Trenton, NJ
- 4 years
- Online
New Jersey-based Thomas Edison State University is one of the oldest higher education institutions in the country. TESU is known for its generous credit transfer policy and affordable online programs.
Business Accounting Program
Thomas Edison State University offers a business accounting program for learners interested in accounting or auditing careers. The program also aligns with the aspirations of students aiming for a CPA designation.
The business accounting program covers principles of finance and business as well as arts and sciences. Students can accelerate the program by transferring up to 90 credits. TESU's BSBA program is offered on campus and is four years long.
TESU's Specializations
Accounting | Business Administration | Macroeconomics
TESU's Affordability
Students registering for nine credits or more in a single term are eligible for a discounted flat-rate tuition. TESU also offers various scholarships to help students cover the expenses.
Program at a Glance
- School Type: Public
- Accreditation: Accreditation Council for Business Schools and Programs (ACBSP)
- Tuition: $411 per credit (in-state); $511 per credit (out-of-state); $3,686 flat-rate tuition (in-state); $4,778 flat-rate tuition (out-of-state)
- Required Credits: 120
- Program Length: 4 years
- Delivery Format: 100% online (asynchronous)
- Admissions
- Process: Apply online anytime; Pay the application fee; Submit official transcripts and scores
- GPA: 2.0
- Standardized Tests: None
- Cost: $50
Retention Rate
Not provided
Admission Rate
Not provided
Percent Online Enrollment
100%
Percentage of all students who are enrolled online.
Accreditation
Yes
Middle States Commission on Higher Education
#4 Most Affordable Online Accounting Degree Programs 2023
Santa Fe College
- Gainesville, FL
- 4 years
- Online
First formed as a community college in 1966, Gainesville-based Santa Fe now offers certificate, associate, and bachelor's degree programs. The school has satellite campuses in Alachua and Bradford counties.
Accounting, B.S.
The B.S. in accounting at Santa Fe College covers essential business skills such as managerial accounting, auditing, financial statement analysis, and management principles. Students learn to solve real-world problems by applying their knowledge to prepare for different accounting positions.
Students can gain hands-on experience by participating in an internship. The program is conducted online, on campus, or in a hybrid setting.
SF's Specializations
Business Finance | Business Law and Ethics | Principles of Management
SF's Affordability
Besides low in-state and out-of-state tuition, the program's online and hybrid formats also help students reduce expenses. The school offers financial aid and scholarships to pay for the program.
Program at a Glance
- School Type: Public
- Accreditation: Southern Association of Colleges and Schools Commission on Colleges
- Tuition: $126 per credit (in-state); $429 per credit (out-of-state)
- Required Credits: 120
- Program Length: 5 terms
- Delivery Format: On campus, hybrid, online
- Admissions
- Process: Apply online; complete residency declaration; submit transcripts; complete online training modules; register for classes
- GPA: 2.5
- Standardized Tests: SAT, ACT, CPT
Out-of-state
Not provided
Retention Rate
Not provided
Admission Rate
Not provided
Percent Online Enrollment
73%
Percentage of all students who are enrolled online.
Accreditation
Yes
Southern Association of Colleges and Schools Commission on Colleges
#5 Most Affordable Online Accounting Degree Programs 2023
Eastern New Mexico University-Main Campus
- Portales, NM
- 4 years
- Online + Campus
Portales-based Eastern New Mexico University is the state's largest comprehensive higher education institution. The school focuses on affordability, and offers small classes and on-campus and online programs.
Online Bachelor of Business Administration in Accounting
The BBA in accounting is offered by Eastern New Mexico University through its college of business. This fully online program has a flexible schedule that combines live and self-paced classes. The accounting major requires a minimum 40 hours of upper-division courses.
Online students can seek help and assistance over phone and email. The school extends its tutoring services, online databases and library resources, and career counseling services to all students.
ENMU's Specializations
Data Analytics | Marketing Management | Income Tax Auditing
ENMU's Affordability
ENMU has the second-lowest tuition in the state. Applying to the university is free. Students can apply for scholarships, grants, and other forms of financial aid.
Program at a Glance
- School Type: Public
- Accreditation: ACBSP, HLC
- Tuition: $187 per credit (in-state); $271 per credit (out-of-state)
- Required Credits: 120
- Program Length: 4 years
- Delivery Format: 100% online (synchronous and asynchronous)
- Admissions
- Process: Apply online or by mail; Complete FAFSA application; Submit transcripts and ACT or SAT test scores.
- Standardized Tests: ACT or SAT
- Cost: $0
Percent Online Enrollment
99%
Percentage of all students who are enrolled online.
Accreditation
Yes
Higher Learning Commission
Featured Online Programs
Explore programs of your interests with the high-quality standards and flexibility you need to take your career to the next level.
Making the Cheapest Online Accounting Degrees Cheaper
There are a number of additional strategies you can use to reduce the cost of an online accounting degree. Creating a personal budget can help you keep track of your expenses and manage your income. Here are a few more things you can do:
-
Rent or Buy Used Textbooks
Textbooks can be costly, so renting, buying used, or even acquiring digital copies of required course materials can lower a student's total expenditures each semester. Students should ensure that used textbooks match the current edition.
-
Find Free Online Resources
In addition to course materials your instructors provide, look for resources like lectures and open-source textbooks online to supplement your learning at no extra cost.
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Earn Income While Enrolled
Working part time or taking advantage of work-study opportunities can help learners earn income while they complete their degree. They can apply this money directly toward their tuition to reduce the size of the loans they borrow.
How Can You Pay for an Accounting Degree Online?
Scholarships reduce your debt burden. The following section reviews three scholarships specific accounting students. It is not an exhaustive list, but it can help familiarize you with available scholarship opportunities.
Scholarships for Accounting Students
AICPA Foundation Scholarship for Future CPAs
- Requirements: For outstanding undergraduate or graduate students who intend to pursue their CPA license after graduation.
- Award: $3,000-$10,000
- Apply
Accounting and Financial Women's Alliance (AFWA) Foundation Scholarship
- Requirements: For women in their third, fourth, or fifth year of an undergraduate accounting program.
- Award: Varies
- Apply
CMA Scholarship Program
- Requirements: For aspiring certified management accountants (CMAs). The award covers the fee to the IMA's CMA study program, plus CMA exam registration fees and three years of IMA membership.
- Award: Variable
- Apply
Do Accounting Programs Online Pay Off?
According to the Bureau of Labor Statistics (BLS), accountants and auditors earned a median annual salary of $77,250 in 2021 — over $30,000 higher than the average salary for all occupations.
This higher-than-average figure suggests accounting degrees can provide a positive return on investment (ROI) — so long as your salary is enough to pay your student loans when you graduate.
Here are some tools that can help you analyze the ROI of an online accounting program for yourself:
- The debt-to-income calculator worksheet offered by the Consumer Financial Protection Bureau
- Statistics regarding employment outcomes for accounting graduates of the schools you are considering
- Data about the average incomes of people with your current qualifications against those of professionals with the educational credential you plan to pursue
Job Outlook for Accounting Graduates
Accounting program graduates can use their degrees to do more than just become a bookkeeper or an accountant. Their academic credentials can also qualify them for jobs like:
Some of these professionals earn median salaries even higher than accountants' medianwages: For example, according to the BLS, financial analysts earned a median income of $95,570 in 2021, almost $20,000 more than the median annual salary for accountants and auditors.
Questions About Studying Accounting Online
What should I major in to become an accountant?
At the very least, you'll need a bachelor's degree in accounting or business (typically, about 120 college credit hours). But if you want to get your CPA license — which greatly increases your access to good jobs — you'll need to complete 150 college credit hours first.
One good way to do that is to pursue a master's degree in accounting.
How can I save money getting an accounting degree?
There are a few tactics that can help you save money while you earn your online accounting degree.
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Choose a public, in-state school that charges lower-than-average tuition and offers financial aid that lowers your bottom line (like scholarships and grants).
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Consider an accelerated program that will help you finish faster and start making money sooner.
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Prioritize online programs that give you the flexibility to work while you study, thereby reducing your opportunity costs along the way.
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Select a fully online program with lower tuition to save yourself the expense of relocating, commuting, or living on campus.
What jobs can I get with an accounting degree?
Popular jobs for accounting grads include:
Source: Payscale, 2023
Is an online accounting degree worth it?
An accounting degree is definitely worth it for someone who is numbers-savvy, a puzzle-solver, and interested in a secure, lucrative career path. If you choose an affordable program and then land a decent job (the median accountant's salary is around $77,000), you should be in pretty good shape to pay off your loans and work toward your financial goals.
And your income will only increase with experience: The highest-paid accountants make over $128,000 a year, according to the BLS.
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