“An investment in knowledge pays the best interest”- Benjamin Franklin.
There’s no doubt that gaining a university degree requires significant time and financial investment. In fact, “What will my degree cost?” is one of the most common questions our course consultants are asked. So if you’re weighing up whether or not to start university, it might be an idea to work out the Return on Investment (ROI) of your degree.
Your earning potential
University qualifications unlock earning potential over a lifetime. Check out our Courses page, which will give you an insight into the average yearly income for various jobs in the related industries.
The net price you’ll pay
The net price equals the full cost of your degree. It includes your course fees, the cost of rent or board if you have to move, the cost of text books and possible daily travel to a university campus.
A distinct advantage of studying online is that many of the textbooks are digital, and the learning is flexible with no contact hours.
If you live interstate or in a regional area, you won’t have to pack up and move to achieve an internationally ranked degree. Even if you live nearby, you can wipe off travelling to campus to attend classes (and filling in annoying gaps between them!).
Total income while studying
Leaving full time work to focus on study will obviously mean a drop in income. If you have a job earning $60,000 a year and you leave work for two years, you lose out on $120,000 in earnings.
However, one of the best things about online learning is that it enables you to work and study at the same time, so you can remove this loss from your calculations.
Your potential debt
For many, paying upfront for a university degree is out of the question. That’s why students have access to the HECS-HELP or FEE-HELP scheme, which allows you to access a government loan and/or receive a discount on upfront fees. Swinburne Online students also have access to a range of scholarships, which aim to promote equality and reward achievement. As Aristotle so eloquently put it “The roots of education are bitter, but the fruit is sweet.”
Finally, we’ll leave you with some words from B.B. King, who said: “The beautiful thing about learning is no one can take it away from you.”