How To Pay For an Information Technology Degree

With more people and companies depending on technology, IT professionals are in high demand. These professionals deal with information systems and create new technologies. Many IT jobs require a college degree, which can be expensive; however, various financial aid options can help.

Higher education costs can often feel overwhelming, but there are ways to help cover your tuition, such as applying for scholarships or looking for affordable online IT degrees. Keep reading to learn how to pay for an information technology degree.

What Is the Average Cost of an IT Degree?

IT degrees can vary in price depending on several factors. One of the most significant factors is what level of degree you're earning: an associate, bachelor's, or master's degree. Other factors that can significantly impact the cost of tuition for your IT degree include:

• whether you attend a public or private university
• in-state versus out-of-state resident (at a public university)
• the state of your college or university
• how many credits you take per semester
• financial aid you qualify for

Below, we've broken down the average cost of an IT degree by level.

Associate Degree

Associate degrees are two-year degrees that generally require 60 credits to complete. Community colleges and technical colleges offer associate degrees, but sometimes larger colleges and universities offer the as well.

Typically, the cost of an associate degree is not based on your specific major, but on the number of credits you take per semester. According to the National Center for Education Statistics (NCES), the average cost of tuition and fees at two-year colleges is $3,885 per year across the U.S., or just under $8,000 for two years.

Bachelor's Degree

Like associate degrees, the cost of a bachelor's degree is usually based on the number of credits, not your specific major. A bachelor's degree in information technology will likely be the same price as a bachelor's degree in English.

According to the NCES, the average cost of an undergraduate degree at a four-year university is $17,709 per year ($70,836 for all four years). At public universities, the average is $9,750 per year, while the average for nonprofit private schools is $38,421.

Master's Degree

Master's degrees aren't required for IT jobs but can help you get hired or promoted. They can also allow you to pursue a specialization in the field, like cybersecurity, computer networks, or operating systems. Master's degree tuition is more likely to vary by program than associate and bachelor's degrees.

While there is no official data specifically on the cost of a master's degree, the Education Data Initiative calculates that the average for a Master of Science degree across the U.S. is $57,770. Earning your degree at a public university will usually cost less than a private one.

Tips for Paying for an Information Technology Degree Program

Most people can't pay out-of-pocket for their college degrees. To help you pay for your degree, you can pursue various financial aid options. Below, we've listed a few tips for paying for your IT degree program.

1. Complete the FAFSA

The Free Application for Student Aid (FAFSA) is an application that students must fill out to qualify for federal and state aid. It's also required for many private financial aid programs.

All students who need help covering their college expenses should fill out the FAFSA. You can access the application and instructions through StudentAid.gov.

2. Explore Scholarships for Information Technology Majors

Scholarships are a form of financial aid that doesn't need to be paid back. They're usually offered for things like academic success, extracurricular activities, and specific programs of study.

There are a few different scholarships specifically for students in IT programs and other types of technology programs. Below, we've listed a few of these scholarships.

Heal Our World Software Scholarship

The Heal Our World Software Scholarship is a $500 scholarship for students who have either utilized or plan to leverage open-source software for the betterment of society.

The scholarship is open to high school seniors, undergraduate students, and graduate students studying computer science, IT, or related fields. To apply, you must write an essay about how technology can change society.

Chadwick D. McNab Memorial Scholarship

The Chadwick D. McNab Memorial Scholarship is a $1,000 scholarship for students in computer science and IT fields. It's created for those looking to advance growth and progress in technology.

This scholarship is specifically for undergraduate students. The application requires an essay about a project you've worked on and what inspires you about working in technology.

Women in Technology Scholarship

Palantir Technologies offers the Women in Technology Scholarship to inspire women to pursue STEM fields. Students can qualify for $7,000 to help cover their tuition.

Applicants must be female undergraduate or master's students. They must major in computer science, software engineering, or a related field.

3. Discover Information Technology Fellowships

Fellowships are usually, but not always, a type of financial aid offered to graduate students, though many companies provide opportunities for undergrads as well. We've listed a few IT fellowships below.

Foreign Affairs Information Technology (FAIT) Fellowship

The Foreign Affairs Information Technology (FAIT) Fellowship is a two-year fellowship from the U.S. Department of State. It provides a path to a career in the foreign service.

Applicants must be U.S. citizens, be enrolled in a full-time IT-related degree program, and have a minimum GPA of 3.2. This fellowship is open to both undergraduate and graduate students.

NOAA IT Fellowship Program

The National Oceanic and Atmospheric Administration (NOAA) offers an IT fellowship program to students in IT and cybersecurity programs. Students participate in paid internships and may be eligible for jobs as federal IT professionals when their fellowship is over.

Both part-time and full-time internships are available. There are fellowship opportunities for current undergraduate and graduate students and recent IT graduates.

Roanoke College Information Technology Fellowship

Roanoke College is a private liberal arts college in Salem, Virginia. It offers a fellowship in which students support the IT needs of the college and gain hands-on experience.

Students can complete their fellowship in multiple fields, such as web development and telecommunications. Students receive training and mentoring, with opportunities to work their way up in their fellowship.

4. Look for Student Loans

Student loans aren't an ideal option for most students, but sometimes they're the only option. Both the federal government and private institutions offer student loans.

When shopping for student loans, consider interest rates and deferment options. These will help you choose the loan that's best for your situation.

5. Consider a Work-Study Program

Work-study programs are financial aid programs offered by the college or university. Students work for their school or for a partnering business, and in return, the money they earn goes toward their tuition costs.

Many schools try to place students in jobs related to their major, which allows them to get real-world experience. You may be able to get a work-study job working with your school's computer systems or something similar. These options may not be available to students in online degree programs.

Is an Information Technology (IT) Degree Worth the Cost?

For many students, an IT degree is worth the cost. IT degrees teach you the technical skills for career paths in fields like:

• artificial intelligence
• cloud computing
• information security and network security
• software development
• web design

Many popular IT careers have an average salary above six figures, especially administration roles like database administrator or systems administrator.