Can studying for a degree online help ease cost-of-living pressures?

10 August, 2023Mutahara Gofur

With A-Level results day looming, lots of young people will be making decisions on their next step – going to university or college. But as living costs continue to rise, some may worry that going away to university is financially out of reach. Could online degrees offer a solution?  A student studying in the library

Going away to university is a rite of passage for many. But as the costs of living rise, the financial impacts of living and learning away from home can be a source of real anxiety – and can prevent some students from considering attending university at all. The increased availability of good quality online and blended degrees means that there are alternatives for those who want to explore different routes. So, what are the benefits of studying online?

Online study: your flexible friend

One of the main benefits of studying online is flexibility. You can study when you like, where you like, part time or full time – on a PC, on a laptop and, increasingly, even through an app on your phone.

There are lots of benefits to studying on campus – for example, meeting your peers and lecturers face-to-face, having structured timetables and university facilities on tap, and just being able to experience life in a different environment.

But if you have family or financial responsibilities, studying full time on campus may not be an option. And some people just prefer to study ‘solo’ rather than going to a campus.

Studying online gives you total flexibility to study alongside your job or other responsibilities. This allows you to continue earning an income while pursuing your degree, which can help to lesson any associated financial strains or burdens.

So, is studying online cheaper?

Studying online reduces some of the expenses associated with in-person learning – such as commuting and accommodation costs, for example.

Having the opportunity to study from home eliminates the need to relocate, so you can avoid having to uproot your life and move into university halls or privately rented accommodation. This can ease any potential financial worries associated with living on your own, as you can avoid the expense of moving house. And, if you’re living with parents, you save on having to buy essential appliances and kitchenware (and probably food)!

Online degrees also tend to offer lower tuition fees, as they’re not providing on-campus services, making education more affordable to those who may otherwise struggle with the cost. So you can access great quality education for less.

So, while cost is not the only consideration when choosing where and how to study, there are some great options if studying on campus is not a priority for you.

Developing your digital skills can enhance your career prospects

Studying online requires students to develop a range of technological and digital skills that are in high demand in today’s job market. Being competent in using online learning platforms, collaboration tools, and remote communication technologies are essential for success in an increasing number of professions.

So, by pursuing an online degree, you will not only acquire subject-specific knowledge but also enhance your technological literacy. These skills can help with your job prospects, now and for the future.

Empowering students from different backgrounds

Online degrees can also help to empower students from different backgrounds and with different access needs to study courses and programmes in a way that suits them. 

For older students who may have families, younger students who want to work while they study, or those who may already have a full-time job but want to change their careers – studying online could offer a fantastic route to achieving their dreams.

The best of both worlds

LIBF now offers a range of online degrees and qualifications that can provide a stepping-stone to a career in banking and finance – or in business more broadly – as well as specialist banking and finance degrees at our campus in London.

Our online undergraduate degrees cover a range of topics:

If you are looking to study at postgraduate, we also offer degrees in:

Whatever level you want to study at, our industry-leading courses can help you to realise your aspirations and set you on the path to an exciting new career.

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Find out more about our online degrees

Find out more about our on-campus degrees