Review of Tuition, Financial Aid, and Scholarship Opportunities for Data Science Programs

The costs of a college education can be one of the main reasons why students hesitate to enroll in programs that can shape their futures. Tuition rates at universities can be billed in different ways, such as by the semester or by the credit-hour.

Guide to Fund Your Data Science Degree At Any Level

Distinguishing these differences and locating a university that offers programs within your budget can be great for effective financial planning for your future.

The popularity of traditional Masters in Data Science programs may continue to increase as the interest in tech-oriented career options rises with technological advancements in society.

If you are intrigued by degree programs that can lead you into influential fields such as business, tech, and healthcare, you should take a look at the Masters in Data Science.

18-Month Data Science Master's Online
Master of Science in Data Science Program at University of Denver University of Denver - Master of Science in Data Science
Earn University of Denver’s MS in Data Science online. No computer science experience required.
Master of Information and Data Science Program at University of California Berkeley University of California Berkeley - Master of Information and Data Science
Designed for data science professionals seeking to organize, analyze, and solve real-world problems

Tuition for an Online Masters in Data Science

Choosing to pursue your degree online can provide you with optimum flexibility and allow you to continue working while enrolled. The tuition rates for the online Masters in Data Science is comparable to on-campus options, but can vary from school to school.

In the online setting, you may also be subject to additional fees for online books and technology access. Our team encourages you to review the fees and tuition for each program prior to making a decision on which would be the best option for you.

Through a search of available online degree programs, our team found varying tuition rates at universities all over the country. Long story short: tuition varies across the U.S. You can research the best options but remember - cheap isn't always best. Be sure to also understand the length of the program, financial assistance options, learning format, among other questions you have.

Read more below to learn which colleges offer the best rates for the online Masters in Data Science.

  • The University of Arkansas - Tuition - $18,842 per semester
  • The University of Bridgeport - Tuition - $15,750 per semester
  • Colorado Tech University - Tuition - $13,393 per semester
  • The University of Notre Dame - Tuition - $9,600 per semester
  • Western Governor's University - Tuition - $6,500 per semester
  • The University of Chicago - Tuition - $4,640 per course

Paying for a Masters in Data Science

Your decision to go back to school to complete your Masters in Data Science can lead you to great opportunities within your professional life. For some students, determining which financial elements should come into play to make this happen can be a matter of finding and applying for different types of financial aid.

As you read through the next section, you can learn more about free options for degree funding - such as grants, as well as loan-based opportunities through the U.S. Government and private resources.

The free options for degree funding are often income dependent and take into consideration your family size, making them an ideal choice for adults with families considering a transition back into school.

Grants

Free options are almost always the resource of choice for college students trying to finance their education. Grants are some of the most sought after options for individuals at the undergraduate and graduate level, and can be a excellent pursuit for you to consider when looking for ways to pay for your Masters in Data Science.

Grants are often offered in fields that display a need for more professionals, including those in teaching and STEM. Since Data Science is a highly innovative field that is being utilized by numerous professional sectors of the economy, you could possibly find open grant opportunities at either a state or national level.

State grants can vary from state to state and can either be needs-based or demand-based. Each state delegates grant money in their own individual way, making it beneficial to review what types of grants your state offers prior to making a financial plans for your program.

Federal grants can also provide funds to diverse individuals and groups based on fund availability and current trends in your career field. Federal grants are also more likely to be needs-based, which may require that you provide proof of your financial ability to pay for higher education during the initial application process.

Loans

If you have made it to the master’s level, you are probably familiar with the Free Application for Federal Student Aid (FAFSA). Many college students fill out this application every year to determine their eligibility for federal grants and loans to help cover the costs of their education.

Students entering into graduate-level programs can most likely be diverted to loan opportunities including Direct Subsidized Federal Loans, Direct Unsubsidized Federal Loans, or Direct PLUS Loans. Depending on your ability to pay, current earnings, and dependency status, you may be eligible for Direct Loans to help pay for your program.

The differences between these loans can make them more or less desirable for students with different needs for their educational financing. Subsidized and unsubsidized students loans do not require you to make any active payments on them while enrolled in a college program, but you will be responsible for paying any accrued interest on unsubsidized loans you take out to fund your program.

Direct PLUS or Grad PLUS Loans are additional options for you to consider through filing of your annual FAFSA. Unlike subsidized and unsubsidized loan programs, Grad PLUS Loans do not have a specific income requirement or aggregate loan limit. This can expand the criteria for eligible applicants for this helpful loan program.

Private Loans

Building your credit can be an essential stepping stone into adulthood, as well as education. The federal loans offered to graduate level students can provide borrowers with a grace period for repayment, which is ideal when students are not holding a full-time job. In some cases, adults seeking funding for their education may qualify for private loans that offer better interest rates or loan terms throughout the duration of the loan.

Private student loans can be obtained through private lenders or your own personal bank. Most require you to take part in an application process that considers your current income and your ability to pay back any funds borrowed for the purpose of education.

Advantages to choosing private loans to fund your degree program include choosing loan terms that are better fitting for your income and lifestyle, potentially better interest rates, and the convenience of a local lender.

Government Aid

The need for data science professionals throughout the U.S. can fluctuate depending the amount of available professionals and the demand. The U.S. Government can offer grants to upcoming learners that are interested in pursuing a degree in this field, which can provide you with the opportunity to take advantage of grant money towards your education.

Grants from the government often require you to show proof of enrollment into an applicable degree program, as well as maintain a certain level of progress during your program. If you qualify for a grant for your degree, you may also be expected to provide evidence of good grades after each semester.

In some cases, government aid towards your degree may also require you to pursue supplemental financial aid to cover the costs of your program. Students can choose from a variety of grants and loans to help pay for their degree.

Scholarships for a Data Science Degree

One of the best ways to prepare yourself for higher education is to perform well in your undergraduate programs. Students that achieve academic success during their bachelor’s programs can become eligible for scholarships based on merit.

If you are seeking scholarship opportunities being offered by private providers, businesses, and data science organizations, an internet search can lead you to some of the most current opportunities available.

In order to qualify for public scholarships, you can apply online or in person through offering agencies. Different types of scholarships may choose recipients based on their achievement in bachelor’s programs, work within the community, or other athletic/altruistic achievements.

Top 10 Data Science Scholarships

  • Bill Caspare Memorial Diversity Scholarship
  • ACM SIGHPC/Intel Computational & Data Science Fellowship
  • Strong Analytics Data Science Scholarship
  • Milliman Opportunity Scholarship Fund
  • American Statistical Association-Wiley Best Statistical Analysis and Data Mining Paper Award
  • Daniel Larose Scholarship for Data Mining Excellence
  • Data Science Bootcamp Scholarship/METIS
  • National Security Agency Mathematics and Computer Science Student Scholarship
  • Eli Lilly Scholarship/BDPA Education and Technology Foundation
  • VIP Women in Technology Scholarship