Let’s face it—we don’t all have lucrative college savings accounts.  If you can’t absorb the cost of going to a physical university right now, you may be looking at your online options for the best value.  Though online education may cost less than an a physical university or college you have to understand what you are getting for your money and how your degree will be perceived.

WHAT IS AN ONLINE SCHOOL?

Online education is the fastest growing medium for education in America.  Over 5 million students now go to school online.  Online schools are great for working students, who need flexible hours, and for students who are parents.  Many online schools you haven’t even heard of.  I recently met a man who teaches in the Business School at American Intercontinental University.  He told me that the tuition is about $15,000 a year.  I was shocked to discover the tuition was so high.  The “professor” told me that State universities don’t cost that much more than the online universities these days.

Online universities have been able to attract not only college-age kids, but also adults in their mid-20′s to mid-40′s, who need additional education to pursue their career advancements or switch careers, altogether.  Many online schools feature degrees in education and business, but they really cover the gamut now.  The teachers are required to have the same degrees as with a regular college or university.

ASTOUNDING MARKET SHARE OF ONLINE COLLEGES VS. TRADITIONAL ONES

According to Sloan Consortium and Babson Survey Research Group, in a survey taken recently, almost 5 million students are enrolled in an online course, and the percentage increases are much greater with online education than with regular universities.   The online education industry is a multi-billion dollar industry, and growing in vast numbers.  Today, 11% of online students are full-time, and that number is expected to increase to 20% by 2014.  Masters programs are the most popular form of online education, as adults can more easily juggle their careers, education and home life.

ONLINE EDUCATION SCAMS

Watch out for degree mills.  Online schools can be a fishy business to comparison shop.  It is much harder to determine an online school’s academic reputation than a regular university or college.  Here is what to watch out for:

  1. Many online schools have very similar names to well-known colleges and universities
  2. The number of courses needed for a degree should be identical for both an online university and a physical university
  3. Some online universities make it difficult for an employer to understand the curriculum completed by the student; fake degrees are criminal
  4. “Fake” colleges and universities have earned hundreds of millions of dollars in offering fake diplomas
  5. If a school offers you credits based on “life experiences” it is possible the school is a scam
  6. Get a hard copy of the school’s brochure and read it with a fine-tooth comb to check for anything that doesn’t sound right
  7. Ask to speak with the financial aid office–any real university will have one; otherwise, it may not be accredited
  8. Scam colleges often use a registered web site that hides the actual registrant
  9. Watch out for bogus tests you have to take that count towards your degree
  10. Make sure there is an actual telephone number with someone who actually answers the phone

Image: FreeDigitalPhotos.net

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