Student Loan Debt in U.S. Hits $1 Trillion

The amount of total student loan debt that U.S. citizens have accumulated is now over $1 trillion. Student loans are becoming an increasingly touchy subject because of the rising cost of higher education. According to the Project on Student Debt, the price of tuition at U.S. colleges has increased over 900 percent over the past 34 years. Of the 1.4 million students who graduate college every year, two-thirds leave with an average debt of $27,000.

The government is trying to find solutions to the ever-rising debt situations, but progress has been slow since money is such a hot-button issue in Washington these days. The Senate today blocked a bill that would have frozen the student loan interest rates because the bill would have raised payroll taxes on Medicare and Social Security. The bill, which would have frozen the interest rates before they doubled in July, was defeated 52 to 45.

If you are thinking of going to school but are afraid of the cost, check out our Financial Aid section to see what options you have to pay for college. Also check out our reviews of the top online colleges to see if there is a school that fits your needs and is in your price range.

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Why Going Back to College
Can Help Your Career

Are you feeling like it's time for a career change? Bored with your job? Want to get more out of your career? We've all been there. The first step is deciding that you want to make a change. The next step is figuring out a plan of action. While it is possible to hit the reset button on your career in a number of different ways, the easiest way is going back to school, for a number of reasons.

1. School is the perfect place to learn another skill set. If you are looking to get into another career field entirely, college is the perfect place to learn an entirely new skill set. And in many cases, you don't even need to start from scratch. Many colleges will allow transfer credits from other schools, even if you already have your Bachelor's degree somewhere else. This will help you by-pass many of the pre-requisite classes and focus on your new field of study.

2. An advanced degree opens more doors for you. If you actually like the field you work in but just can't seem to advance past your current job or level, an advanced degree may be your answer. Many management or specialized jobs require higher levels of education, whether that be an MBA or just more education within a given subject. Getting that education can give you more freedom to move around within your industry.

3. You have the school's internship and job placement resources. Colleges have a wide range of job placement resources that can help you find the right job for you. From job boards to career counselors, it is smart to take advantage of the wide range of services that are offered to you.

4. It's easy. Well, it's easier today than it was in the past. With night and weekend classes, you don't have to miss any work. And online colleges make it even easier, letting you do your school work and take tests on your own time. So you can go to school at your own pace so you don't feel overwhelmed.

5. It can open a lot of networking doors. It's all about who you know, and college is a great place to meet students, professors, lecturers and other colleagues that can help you connect with the right people to help jump start your new career. Make sure you take every opportunity to connect and network with everyone you can, because you never know which new connection can help you land a job.

Not sure where to start? Check out our reviews of the top online colleges, including rankings for nursing and business programs, and find a school that can help you extend your education.

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Can I Get a Nursing Degree Online?

Q: I work full time and have a family so I need to do all my training online. Is that possible to do? 

A: Online nursing degrees are a tricky subject. Most online universities that tout nursing degrees actually offer advanced nursing degrees that require you to already be a Registered Nurse (RN). Most of these programs are either RN-to-BSN (Bachelors of Science in Nursing) programs or RN-to-MSN (Masters of Science in Nursing) programs. Both of these programs are designed to build on the experience and knowledge you already have as an RN. Several of the top schools in our rankings, including Capella University and Kaplan Unvirsity, offer RN-to-BSN and RN-to-MSN programs.

In addition, Kaplan University offers an Associate of Science in Nursing, which it says will help prepare students for the National Council Licensure Examination for Registered Nurses^® (NCLEX-RN^®), but does not guarantee that students will even be eligible or pass the test. It also requires access to clinical practicum sites and participation in nursing skills labs in Palm Beach County, Broward County, or Miami Dade County in Florida, which limits access considerably.

If you are interested in other nursing programs that don't require hands-on training, most of the schools we list in our nursing degree compare page offer such certifications and degrees.

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NEW YEARS RESOLUTIONS: Going Back to School

If one of your resolutions is to go after that degree you've been eyeing, we can help you get started. Finding which school is the best fit for you can be an overwhelming experience, but it doesn't have to be. We review some of the top online schools and break down the pros and cons of each. Why choose an online school to furthur your education? It can be more convenient than traditional schools. You can take classes and do your work on your own timeline. You don't have to deal with commuting to school. And you also don't have to deal with huge classrooms or distracted teachers. It makes going back to school simpler. If you are interested in going back to school this year, check out our reviews of the top online schools here.

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Can I Transfer Credits from One Online College to Another?

Q: I am currently attending University of Phoenix. I have 2 more classes to go for my Associates. I wanted to know if I would be able to transfer my credits and go for my Bachelors with American InterContinental University.

A: In theory, American InterContinental University will accept your transfer credits. In practice, the number of credits that can be transferred depends on whether they are applicable to your area of study.

AIU will accept transfer credits from any school that is accredited by an agency that is recognized by the U.S. Secretary of Education. The University of Phoenix is accredited by the Higher Learning Commission and is a member of the North Central Association, so you should be fine. AIU will evaluate the credits you took at University of Phoenix and determine if they fit in with your desired program at AIU.

You should have no problem transferring general education classes, such as composition or basic math requirements. The more specific classes are where it becomes tricky. If you were an art student at University of Phoenix, but want to study business at AIU, most of those art classes won’t count for much. If you want to stay in the same area of study for your Bachelors at AIU, most of your credits should transfer with little issue. But each credit is subject to AIU’s evaluation process, so nothing is guaranteed.

Our other top-rated online college, such as Capella University and Kaplan University, have the same transfer requirements, as do many accredited colleges. Check out our compare page to see how other online schools stack up.

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What are the education requirements for getting an RN degree online?

The following is an actual user-submitted question:

Q. I was reading on this website's FAQ where it said you can study to get your RN online, but when I tried to fill out the form for more information, an error appeared stating that I do not meet the educational requirements for the program. What are the education requirements for getting an RN degree online?

A. This is a good question, but the answer might be a little confusing. State education guidelines require hands-on training in a classroom or in a clinical setting for licensure as an RN. Western Governor's University is the only online program that offers a BS in Nursing (Prelicensure). This prepares you to sit for the national NCLEX RN licensing exam. Your clinical education includes working in simulated labs, followed by offsite agency-based clinical intensives where you'll master patient care skills and competencies. However, the availability of this program varies from state to state.

In order to qualify for this program, you must (from WGU's website):

• "Possess a current CPR certification at the Healthcare Provider Level.
• Take and pass the ATI TEAS V Exam at the “Proficient,” “Advanced,” or “Exemplary” Level. Click here to learn more about the TEAS V Exam.
• Submit at least one letter of recommendation from your current healthcare employer.
• Submit official transcripts from all previous institutions that show:
  • You have earned a bachelor’s or associate’s degree AND/OR
  • You have completed the program admissions prerequisites in Liberal Arts and Sciences and Behavioral Sciences
  • You have completed all nursing-related science prerequisites in:
    • Anatomy and Physiology
    • Microbiology
    • Biochemistry"

Once you have achieved RN status through this program or a different onsite program, many online colleges, such as Kaplan and Walden, allow you to advance past that—to a BSN.

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Can I obtain a nursing degree online?

The following is an actual user-submitted question:

Q:  Can I obtain a nursing degree online?

A: Absolutely.  You can complete the education portion of your nursing degree online by attaining a Bachelor of Science in Nursing.  Once you graduate, you will need to pass the national licensing exam to get your actual nursing license.  To learn more about our top rated nursing schools, take a look at our online nursing degree comparison.  To learn more about the online nursing programs and online college in general, check out our online college FAQ.

If you're considering an online nursing degree, it's a great time to start investigating financial aid options.  To help you out, we've created a Financial Aid Information page with all sorts of helpful guidance and links.

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Does Walden have a good master's program in math education?

The following is an actual user-submitted question:

Q. I am looking for a math education master's program. I was looking at Walden's program. Does anyone know anything about Walden or have any other suggestions?

A. Smart thinking! Walden is our top pick of the online colleges for advanced degrees, such as master's and PhDs. Walden offers a wide variety of student support tools, such as faculty mentors, librarians, and a student concierge service that supports you throughout your degree program. Assuming you're planning to teach grades K-12, Walden provides M.S. in Education degrees in K-5 and 6-8 mathematics with an emphasis on real-world, practical strategies. You'll have access to cutting-edge technology, including electronic portfolios, podcasts, and Virtual Field Experiences, in which you'll watch teachers and other educational professionals in action via DVD. This unique approach features firsthand explanations of how practitioners apply theory to actual classroom practice.

We think Walden is a great online education choice for you, but if you decide against it, here are some other options:

AIU Online: AIU is a good fit for most students. It has a wide variety of degree programs, and the cost of each one is all-inclusive. AIU offers many discounts and financial aid options as well as outstanding student resources: AIU’s Virtual Campus was recognized as "Best of the Best" in the Education and Academia category of the 2009 Computerworld Honors Program. However, it has a bit less specialization for M.Ed. degrees than Walden.

Western Governor's University: WGU is easily the best value of the schools we review: You pay a fixed fee per six-month term, during which you may take as many classes as you can fit into your schedule. WGU's Master of Math Education program combines degree coursework with preparation for licensure as a math teacher for middle school or high school. But you'll need to talk to an enrollment counselor to determine whether you possess a sufficient background in mathematics.

Kaplan University: Yes, this is the same Kaplan that helped you prepare for the SATs. You can choose one of ten emphasis areas—including Teaching Mathematics – Grades K-5, Grades 6-8, and Grades 9-12—in Kaplan's M.S. in Education degrees. Kaplan currently ranks the highest in alumni satisfaction (90%), but it's significantly more expensive than many of the other online colleges we review.

Best of luck in your online college search!

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The McJob: How Degrees from Online Colleges Can Earn You More Money

Today, McDonald's is celebrating its own "National Hiring Day" by adding up to 50,000 new U.S. employees to its ranks. The company is trying to recast the somewhat negative image of the "McJob." During the campaign leading up to the event, McDonald's has emphasized long careers within its company, specifically of those employees who started out as lowly burger flippers and climbed the corporate ladder to success.

So contrary to popular opinion, the McJob is not a last resort for someone with no prospects. But will such a job pay enough for you to keep up your McStandard of living?

Research shows that the kind of work you do might have less of an effect on your McSalary than whether you have a college degree. On average, a person with an associate's degree earns $38,200 more per year—that's $1.6 million over a lifetime! Those numbers just keep growing with the higher level of degree you get.

But what if you think you missed your chance? What if your busy life prevented you from attending or finishing college, and you just don't think you'll have the time or the money to go back to school now? Online colleges are a great solution for working parents, caregivers for elderly relatives, and anyone with a tight budget and/or schedule. Here are our three top picks for most students:

1. AIU Online: You can earn anything from an associate's to a master's degree from AIU, and you can major in many lucrative fields, including business, criminal justice, information technology, and marketing. This institution provides job placement assistance as well as real-world interview coaching. The accredited online college boasts high graduation and employment rates, and it offers benefits to current and former military members.
2. Capella University: Capella extends its offer to PhDs and certificates, and it's easily the best value for online college. Do you have credits from earlier college attendance? Many students save quite a bit of time and money by transferring that coursework to Capella. This accredited institution even offers discounts and other benefits to former members of the armed forces and employees of more than 120 corporations. Capella also has a great job placement program.
3. Kaplan University: This institution is part of the same family of companies as the well-known test preparation service, and those specialized teaching techniques apply to its classes. Kaplan has more than 150 degree programs, so you're bound to find your desired major—be it MBA or JD—within its coursework. Finally, the tuition for this online college is competitive, especially as the cost includes all textbooks and course materials.

If you're thinking of getting a degree for an online college, don't forget to research financial aid options to get the most education for your money. Whether you become an IT consultant or stick with the frying pan of fast food work after graduation, you'll be making a higher salary. Hello, McMoneybags.

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Which online college programs have the lowest tuition costs?

Q:  Which online college programs have the lowest tuition costs?

A: Each online college varies in it's cost, based on the degree you are studying for and the college itself.  However, the majority of students receive some kind of financial aid to help defray the expense.  There are a myriad of financial aid programs available from both federal, state and private sources.    All it takes is a little work on your part to find them.  Read our past blog on getting financial aid for online college and visit our Financial Aid Information page to find out more and get started.  Check out our top reviewed online colleges to get more information on the colleges themselves.

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