Funding your online degree: Exploring financial support and budgeting tips
Monday 24 February 2025
4 min read
Introduction
One of the biggest benefits of online learning is flexibility – not just in how you study, but also in how you finance it. Without the costs of commuting, relocating, or taking time off work, an online degree can be a more affordable way to advance your career. But what funding options are available, and how can you budget well whilst studying?
Exploring funding options
We’re here to support you throughout your online learning journey. Here are some of the most common ways to finance your studies:
Government postgraduate loans If you’re based in the UK, you might be eligible for a Postgraduate Master’s Loan to help cover tuition fees and living costs. These loans have previously provided up to £12,471 (for courses starting from August 2024) and are repayable once you start earning above a certain threshold. This can be a great way to pay for your degree whilst still earning money, as online courses allow you to keep working.
Save money with our early payment discount At Coventry University Online, we know every bit of financial support helps. That’s why we offer an Early Payment Discount for students who pay their tuition fees in full before their course starts. This discount can help reduce overall costs, making your online degree even more affordable. If you’re considering applying, it’s worth checking the deadline to see if you’re eligible.
Employer scholarships Have you considered speaking to your employer about funding? Many companies are happy to invest in their employees' education, especially if your course will bring new skills to your role. If your degree aligns with your company’s goals, they might be willing to contribute towards tuition fees or provide study leave to help you balance work and study.
Budgeting tips for online students
Even with financial support, managing your budget is important. Here are some quick and easy ways to keep costs under control during your studies:
Plan ahead: make a list of your expected expenses, including tuition fees, books, and daily living costs
Look for student discounts: plenty of shops, transport services, and online platforms offer discounts for students
Work while you study: online degrees are designed to be flexible, so if you need to work part-time to help fund your studies, you can
Cut unnecessary expenses: small changes, like making coffee at home instead of buying it daily, can add up over time.
Check out our Cost of Living Hub for more information on saving tips and student discounts.
Take the next step in your education
Investing in your education is a big step, but with the right financial support and smart budgeting, it’s achievable. With loans, discounts, or employer funding, there are plenty of options to help you make your online degree happen. If you’re ready to take the next step, why not explore our online courses and see what’s right for you?
