How To Pay For a Marketing Degree

Marketing is a field that has changed over time. Modern marketing jobs involve digital aspects, such as social media strategy and search engine optimization (SEO). Aspiring marketers must pursue a degree to begin working in these careers, usually a bachelor's in marketing or a similar business degree.

Earning a degree and joining the marketing field might seem straightforward, but the costs associated with higher education can deter some learners. College education pricing has rapidly increased, prompting aspiring marketing professionals to find financial aid options and other alternate ways to pay for their degrees.

Keep reading to see how to pay for a marketing degree and tips for covering these tuition expenses.

What Is the Average Cost of a Marketing Degree?

Students can choose from multiple types of marketing degrees. Each will grant holders access to different marketing positions.

Applicants typically need a bachelor's degree for most marketing roles, but an associate degree can result in entry-level roles. Each degree will have different costs, based on various factors like the type of school you can attend and the length of the degree program.

Associate Degree

An associate degree is a two-year degree program that can be earned at a community college or university. An average associate degree, regardless of field of study, can cost anywhere from $2000 to $5000, yearly.

These programs are generally more affordable due to the shorter length and the schools where the degree can be earned. Associate degrees are the most affordable degree program, but they will qualify graduates for the most limited job outlook.

Bachelor's Degree

A marketing bachelor's degree can range from $10,000 to over $60,000 for yearly tuition. Bachelor's degrees must be earned from a university or accredited four-year institution. Most marketing degrees are offered as a Bachelor of Business Administration in marketing, but some schools offer a Bachelor of Science in marketing.

This degree costs more than an associate degree program, but it also provides a more positive job outlook and higher earning potential. Bachelor's degrees also can be paired with certifications or other credentials to specialize in areas like:

• social media marketing and e-commerce
• marketing planning and strategy
• SEO, copywriting, and content marketing
• digital marketing strategy and project management
• building brand awareness
• marketing communications

Master's Degree

A Master of Business Administration (MBA) in marketing is the most commonly earned graduate degree for marketers. The average master's degree in any field of study costs around $40,000.

This cost can be reduced by pursuing one of the widely available online MBA programs. These online programs are sometimes accelerated programs, which can also reduce total costs. An MBA is often required for the highest marketing positions, such as chief marketing officer.

Tips for Paying for a Marketing Degree Program

Paying for college is often one of the most difficult parts of higher education. Marketing students have multiple options to help them pay for school, including free money programs.

A free money program, unlike a loan, doesn't require repayment. These programs are usually offered as grants or scholarships and allow students to graduate with little to no outstanding debt.

1. Complete the FAFSA

All college students should fill out their Free Application for Federal Student Aid (FAFSA) forms every academic year, regardless of financial status. These forms are used by the government and financial aid offices to determine eligibility for programs like the Pell Grant. FAFSA needs to be renewed yearly to reflect any changes in income or family support.

2. Explore Scholarships for Marketing Majors

Multiple marketing and advertising agencies offer scholarship programs in addition to federal grants and scholarships. These agencies view these programs as ways of investing in the future of marketing.

Raymond Reggie Scholarship

The Raymond Reggie Scholarship is offered to high school graduates pursuing a business, advertising, or marketing program. This scholarship is offered nationally, but students from Louisiana high schools receive preference.

Marketing Millennials No-Essay Scholarship

Marketing Millennials is a network of content designed to teach marketing concepts, including a podcast and newsletter. This scholarship is designed to help future marketers receive the education they need, without filling out a long essay application.

PJC Memorial Scholarship

The Paris Junior College Memorial Scholarship is a program available to students attending Paris Junior College in Texas. This scholarship program can help students receive funding for their schooling that can be used toward an associate degree or for credits that can transfer to a university to complete a four-year program.

3. Discover Marketing Fellowships

Marketing fellowships allow students to work and receive funds for schooling. These programs are like internships, except fellowships are generally for graduate students instead of undergraduate students.

Bowery Capital Fellowship

The Bowery Capital Fellowship pairs students with a host company to complete a 10-week program. The fellowship is coordinated by Bowery Capital, but payment is awarded by the host companies. Fellows will receive mentorship from their company but meet with other fellows weekly to learn from all the hosts.

El Pomar Fellowship

The El Pomar fellowship is a program for Colorado-based students. Students work with the El Pomar Foundation to receive hands-on experience and gain connections to the vast alumni network.

The Adfellows Program

The Adfellows program is an eight-month fellowship that pairs aspiring marketing professionals with various organizations. An AdFellow fellowship breaks up your eight months into three segments, each at a different organization. In addition to payment, students earn experience in several organizational structures.

4. Look for Student Loans

Student loans are one of the most common payment options used. Loans require repayment, but most payments are deferred until after graduation. There are two main types of student loans: federal and private. Federal loans are issued by government agencies, while private loans come from banks or credit unions.

5. Consider a Work-Study Program

The Department of Education coordinates work-study programs for students. They involve working with a local governmental agency or school to gain experience and earn money for tuition. Unlike a grant or scholarship, work-study programs pay money to you, which you can use toward your schooling.

Is a Marketing Degree Worth It?

A marketing degree is worth it if you want to become a marketing specialist. It's possible to work within the field, but graduates typically earn higher salaries than non-degree holders. Marketing salaries aren't any different. This degree allows you to pursue higher positions, increasing your salary range.

Is Marketing a High-Paying Degree?

Many roles within marketing are available � some with higher pay scales than the national average. There is no guarantee that you will receive a high job title or average salary, but a marketing degree can increase your chances.

Marketing Career Paths

Graduates can choose multiple marketing career paths, due to the high specialization within the industry. They can apply for many positions, based on their career goals and preferences.

Marketing Manager

A marketing manager is responsible for planning and strategy for marketing campaigns. Marketing managers are also responsible for communicating with other departments or clients to relay details to non-marketing stakeholders.

Social Media Manager

Social media marketing is a new form of marketing focusing on social media channels such as Instagram and TikTok. Social media managers handle digital campaigns differently from traditional campaigns. They require special knowledge of target audiences and various social media platforms. Social media managers are copywriters, content creators, and data analysts all in one.

Market Research Analyst

Marketing isn't just about words and visuals to connect with consumers; it involves much research. Marketing professionals must understand the larger trends and context for campaigns. Market research analysts study the larger picture to help marketing managers and strategists plan their next campaign.