October 25, 2022

3 Ways to Finance Your Online Studies

by Jens Ischebeck

Online studies have become a popular alternative to in-person, on-campus learning. Technology has made distance education very accessible for students across the globe. Learners from Africa and beyond who can’t travel to attend their desired campus can now easily acquire the knowledge and skills online.

The flexibility of virtual learning makes it a convenient choice for many global students. Online studying is likely here to stay for a very long time. If you are planning on furthering your education, you have to figure out how to finance your online studies.

Education is an expensive endeavour. E.g. getting an online MBA even without undergraduate degree is tough.

But when you have a plan in place to aquire an acknowledged degree, you can get sufficient funds to get by. Higher education is no longer meant for the few. So, before you give up on your dreams, consider these methods of financing your online studies.

Working Part-Time

You can easily achieve optimal school-life balance when learning online. The flexible e-learning schedule allows you to work in parallel and earn a living during studying. An online business school allows you to further your career without interfering with your life too much.

You will attend all your classes and still be able to make money to cover the tuition fee. Your course might require you to attend live lectures. But it’s easy to factor them into your already busy schedule.

Neither your work nor your studies will have to suffer when you manage your time appropriately. Work out the costs of your studies early on, so you know how much money you need to put aside for tuition. If your current job can't comfortably cover tuition and daily expenditure, you can try looking for another job.

However, online studying costs are usually lower compared to on-campus learning. There is a good chance your current job will be enough to see you through the online school. Online courses are priced differently; pick the most affordable course that aligns with your profession.

Good to read: Udemy online courses - extensive guide for Africans

Studying and making some extra cash on the side is what most African and other international students dream of. To ensure you aren’t getting overwhelmed by working and studying at the same, manage your time effectively.

It will help you complete assignments on time and make enough money to fund your studies. It's always wise to inform your employer once you enrol for online studies. They might be flexible enough to shift your working hours.

Find An Online School That Offers A Payment Plan

It will be easy to finance your online degree when the online school offers a helping hand. The best way they can offer financial assistance is by giving you an interest-free payment plan.

E.g. the Great Britain based Online Business School will allow you to pay a small amount of the tuition fee each month.

You can avoid interest rates associated with hefty student loans. There won’t be any additional costs after you complete the agreed-upon amount. You should set up a payment plan as soon as you enrol in the online business school.

Instead of settling the full tuition amount in full, you will have more time to gather funds. You can set a payment plan based on your financial needs. That means you won’t have to go too much out of your way to meet your online studies costs.

Taking advantage of payment plan opportunities is important because not all online schools offer them. The little funds you can spare every month will be into your tuition. Before you know it, the coursework will be over, and you won't have any pending costs.

When it comes to financing studies, payment plans are the best options. You can divide the fees over the semester or year into manageable amounts. Before you go for the payment plan, consider any other expenses you might have.

That will give you a clear figure on what you can raise each month. Since you are studying online, you can make monthly payments using PayPal, bank transfer or other available methods.

Having debt-free graduation is one of the best feelings. You can go on and start your career without debt. Reach out to the student advisor and find out what payment options are available.


Scholarships are one of the most popular ways to finance your online studies. Everyone is asking for it, but the truth is scholarships can be very hard to come by, especially for African students. However, that doesn’t mean you should stop looking for a scholarship.

It might go a long way in funding your studies. A full scholarship can get you through school without spending money out of pocket. Look for available options in your country.

International or independent organizations work with different online schools to fund students. Scholarships don't stay available for long. As soon as they are up for grabs, students from all over apply for them.

That means you have to remain vigilant if you want to get lucky. There are different types of scholarships, including merit-based and targeted scholarships. Seeking financial aid from a financial institution means paying it back after your studies.

That’s why most students opt for scholarships instead. Luckily online business courses are also awarded numerous scholarships. These scholarships usually have eligibility criteria you must meet before getting the funding.

Need-based scholarships, also known as grants, are categorized differently. They are usually awarded to needy students who can't afford the set tuition. You can get through online business school without worrying about funds if you qualify for such grants.

The value of scholarships varies, so when you are lucky to find one, figure out how much of the tuition fees it will be able to fund.

Final Words

These three methods are the most effective ways to finance your online studies. Higher education doesn’t have to feel like an impossible task. Online studies make it all accessible and affordable as well.

You only need to have a financial plan that will last you until the business course is complete. You can study online and work, find a payment plan or a scholarship to help you cover tuition fees. Talk to the student advisor at the online business school about finances before you enrol.


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