An online accounting degree can be the first step toward a stable and rewarding career, but for many, the cost of tuition is a significant barrier.
Fortunately, several pathways can lead to earning a degree with little to no student debt by leveraging employer benefits, competitive scholarships, and federal aid programs.
Employer Tuition Assistance: Many large companies pay 100% of tuition costs for their employees through partnerships with specific online universities.
Full-Tuition Scholarships: These are competitive, merit- or need-based awards offered by universities to a limited number of students and are not guaranteed.
Tuition-Free Universities: A few institutions charge no tuition but often require students to pay application and per-course assessment fees.
One of the most direct paths to a debt-free degree is through an employer. Major companies like Amazon, Walmart, and Target have established robust education benefit programs that cover 100% of tuition and book costs for their employees at partner universities. Typically, both part-time and full-time employees become eligible after a short waiting period. These employees can then enroll in approved degree programs, including business and accounting, with the company paying the university directly.
Many universities offer scholarships that can cover the full cost of a degree, although these are highly competitive and require a separate application process. Known for its affordable, competency-based model, Western Governors University (WGU) also offers a variety of scholarships that can significantly reduce or cover costs. While most awards provide partial funding, they can be combined to make a degree highly affordable.
A prominent example in this category is the University of the People (UoPeople). Students do not pay tuition but are responsible for an application fee and an assessment fee for each course completed. This model dramatically lowers the overall cost of earning a degree.
A comprehensive online accounting curriculum typically includes courses in financial and managerial accounting, taxation, auditing principles, business law and ethics, and financial reporting and analysis. Students also gain proficiency in essential tools like spreadsheet software and accounting information systems.
Check with Your Employer: If you are employed, ask your HR department about tuition assistance or reimbursement benefits. This is often the most direct path to a fully paid degree.
File the FAFSA: Always complete the Free Application for Federal Student Aid (FAFSA) to determine your eligibility for federal aid like the Pell Grant, which can cover full tuition at many affordable online schools.
Evaluate All Models Carefully: Consider options like University of the People, but be sure to verify that the program and its accreditation meet your career goals, especially if you plan to pursue CPA licensure.
Earning an online accounting degree without accumulating debt is an achievable goal, but it requires strategic planning and effort. By exploring employer benefits, applying for competitive scholarships, and leveraging federal aid, you can build a strong foundation for your accounting career without the financial burden of student loans.