Earning a master's in nursing can boost your pay, and choosing an affordable program can mean a better return on your investment.
The cost of an MSN varies widely. Some programs cost as little as $300 per credit, while others cost more than four times that much. Finding the cheapest program could save you tens of thousands of dollars.
Find programs that fit your budget with our ranking of the most affordable MSN programs.
Popular Online MSN Programs
Learn about start dates, transferring credits, availability of financial aid, and more by contacting the universities below.
Most Affordable Online MSN Programs
Why Get an MSN Degree?
Completing an online MSN program allows graduates to pursue nursing leadership roles and advance their nursing practice. These jobs include roles with more independence and responsibility, such as:
Nurse practitioners
Nurse midwives
Nurse educators
Clinical nurse specialists
Some nurses use their MSNs to pursue advanced nursing practice roles. Other nurses use their MSNs to step into leadership or management roles at healthcare facilities.
Earning an MSN degree online can increase nurses' earning potential. Generally, jobs requiring an MSN pay more than those not. MSN graduates earn an average of $103,000, which is $9,000 more per year than BSN graduates, according to Payscale data from Feb. 2024
In comparison, the BLS reports that NPs earn a $117,670 median annual salary, while registered nurses (RNs) earn $75,330.
Many schools offer MSN programs online. The flexibility of an online MSN program lets nurses continue working while earning their degrees. This flexibility appeals to nurses, who often work busy, complex schedules.
Many programs follow an asynchronous format, letting students complete coursework when convenient.
How Much Does an MSN Degree Cost?
A master's degree in a health field costs a median of $28,590 in 2020, according to the National Center for Educational Statistics (NCES) Data Lab. This includes tuition, fees, books, transportation, and personal expenses. Tuition and fees alone cost a median of $11,160 per year in 2020.
Public schools typically offer more affordable MSN programs than private schools. Online nursing schools often feature the most affordable MSN programs. However, they often require students to complete an in-person practicum during their studies.
Students can earn their degree in 1-3 years. Online MSN programs offer different tracks and specializations, some taking longer than others. Part-time tracks take longer than full-time courseloads.
| Program Format | Tuition and Fees | Total Student Budget |
|---|---|---|
| Online | $9,360 | $23,180 |
| On-Campus | $12,080 | $28,570 |
| All Programs | $11,160 | $28,590 |
Source: NCES, 2020
How to Pay for an Online MSN Program
An MSN is a major investment. Fortunately, you can make your MSN affordable by choosing an online program, limiting expenses, and applying for financial aid.
You'll pay less for tuition and fees with an online MSN. An online format can also mean lower transportation and living expenses. When researching costs, factor in textbooks, fees, and other required expenses.
You'll also qualify for grants, scholarships, and loans by choosing an accredited institution. You may also qualify for loan repayment options, such as the HRSA Nurse Corps Loan Repayment Program.
Some employers, especially teaching hospitals or hospitals partnered with university systems, may reimburse you or help you pay for your MSN degree. Read the requirements carefully because they usually require a work commitment after earning your MSN.
How Much Do MSN Graduates Make?
Nurses with a graduate degree earn significantly higher salaries than those with a bachelor's degree.
With an MSN, you can pursue high-paying nursing careers. For example, several nurse practitioner specialties report six-figure median salaries. You can also become a nurse educator, nurse midwife, or clinical nurse specialist with an MSN.
Your earning potential with an MSN depends on your specialization and job title. The table below provides salary data for popular careers for MSN nurses.
Courses in an MSN Program
You strengthen your health assessment, clinical decision-making, and nursing leadership skills in an MSN program. In addition to core MSN classes, you'll take graduate-level courses in your specialization. MSN programs also incorporate hands-on training through practicums and clinical placements.
You'll learn from experienced faculty who emphasize the best practices in nursing at an accredited online MSN program.
While the exact curriculum will vary depending on your program and specialization, many MSN programs incorporate the following courses:
Advanced Health Assessment Advanced health assessment classes prepare nurses to provide primary care to patients from all populations. Students collect quantitative and qualitative patient data. They use this data to analyze patients' current health, future risks and means for preventative care. Nurses use these skills on the job, no matter their specialty.
Health Promotion in Families and Communities This course covers specific health risks in certain communities and families. Students learn about risk appraisal and how to prevent risks in families, communities, and individuals. Nurses use these analytical skills when treating diverse populations.
Leadership and Management in Complex Health Systems This course prepares enrollees to take on more responsibility in their healthcare roles. They learn strategy and leadership skills and how to manage a team and monitor organizational performance. Nurses use organizational and leadership skills even when not in management roles.
Accreditation for an MSN Program
Prospective nursing students should always choose an accredited online MSN program to ensure they meet the requirements for licensure, certification, and employers. Accredited programs meet the highest standards for training nurses. Employers, licensing boards, and certifying bodies require you to graduate from an accredited program to ensure you're prepared for practice.
The Accreditation Commission for Education in Nursing and the Commission on Collegiate Nursing Education grant accreditation to nursing programs. Both organizations provide databases of accredited MSN programs, including online programs. Carefully research a program's accreditation status before applying.
In addition to an accredited program, look for an accredited university. Only students at accredited schools qualify for federal financial aid, and many schools only accept degrees and transfer credits from accredited institutions. The U.S. Department of Education database lists accredited programs and schools.
Frequently Asked Questions About Online MSN Programs
An MSN degree can be worth it for nurses. You can move into advanced practice roles like nurse practitioner with an MSN. The degree can also lead to opportunities as nurse educators or administrators.
You can maximize your return on investment by choosing one of the most affordable MSN programs online.
