What Will It Cost to Complete Your Bachelor’s Degree Online at Merrimack?

Every year, more people conclude that a bachelor’s degree is essential to compete in today’s job market. Need proof? When the U.S. Census Bureau started collecting education data in 1940, 4.6 percent of adults 25 years or older had earned a bachelor’s degree or higher. That number reached 30 percent in 2012; by 2022, it had risen to 37.7 percent. 

Earning a bachelor’s degree offers many benefits. Primary motivators include higher earning potential, increased job security and the opportunity to pursue an advanced degree. According to the U.S. Bureau of Labor Statistics, bachelor’s degree holders earn 66 percent more than high school diploma holders. They also have a lower unemployment rate: 2.2 percent, compared to 3.9 percent for those with a high school diploma. 

Getting a bachelor’s degree could be even more beneficial in the future. The Center on Education and the Workforce predicts that 42 percent of jobs will require at least a bachelor’s degree by 2031.

Whatever drives your motivation, the Bachelor Degree Completion program at Merrimack College can help you reach your goals. Designed for working professionals of all backgrounds, the flexible program provides 100 percent online learning and credit for prior coursework and professional experiences. You can choose from multiple degree paths to customize your degree based on your goals.

Returning to school for a bachelor’s degree requires a financial investment. Before enrolling in a program, it’s essential to understand the costs to determine your budget and create a plan to support your goals. This article helps you, as a prospective Merrimack student, calculate your tuition costs and find opportunities for financial aid so you can understand how to budget for your education. 

How to Determine Your Total Bachelor’s Degree Tuition

Merrimack’s Bachelor Degree Completion program students can transfer up to 90 credits accrued through prior coursework and professional experiences. Eligible credits may include those earned through prior undergraduate coursework, an associate’s degree, professional certifications, work experience, job training, licensures and professional development.

To determine your transfer credits, reference Merrimack’s transfer credit guide to assess your previous transcripts. Merrimack will consider coursework from accredited institutions; generally, a “C-” is the minimum grade required. If you need help obtaining your transcripts or have questions about credit eligibility, Merrimack’s admission team can help.

To estimate your tuition cost, subtract your number of eligible transfer credits from the number of credits required for your degree (Merrimack’s bachelor’s degree completion program requires 124 credits) to determine how many credits you need. Then, multiply the number of credits needed by the cost per credit to calculate your total tuition. Most students with an associate’s degree complete the program for under $21,000.

Funding Sources Available to Bachelor’s Degree Completion Students

Merrimack students can access various funding sources and interest-free payment plans to help make tuition costs more manageable. Once you  complete Merrimack’s financial aid application process, you may become eligible for several forms of financial aid. Depending on your background and personal circumstances, you may qualify for: 

• Grants
• Loans
• Military tuition assistance, including the Yellow Ribbon Program
• Employer tuition assistance
• Partnership discounts
• External scholarships

To calculate your financial need and eligibility for assistance, complete and submit the Free Application for Federal Student Aid (FAFSA). Start the process early; submit your FAFSA as soon as possible to increase your chances of receiving aid, as funding may be limited and distributed on a first-come, first-served basis. You can also pursue scholarships through external sources. 

Is a Bachelor’s Degree Worth the Investment?

A bachelor’s degree requires a financial commitment, but its benefits typically make it worth the investment. In addition to increased earnings and lower unemployment rates, bachelor’s degree holders generally benefit from:

• More and better job opportunities
• Increased job stability
• Employer-funded health insurance and retirement plans
• Personal growth and development
• Access to advanced educational opportunities  

Investing in your education also leads to fringe benefits. Advanced education achievement correlates to better health, improved cognitive skills, civic engagement, and higher levels of happiness and satisfaction. Graduates of the Bachelor’s Degree Completion program also qualify for a discounted rate on a Merrimack master’s degree via the Double Warrior program. 

Merrimack’s Bachelor Degree Completion program can provide access to all these benefits, making your investment worthwhile. The program’s focus on current industry trends and the skills valued by employers set you up for career success.

Your Merrimack Tuition Guide: Connect with an Enrollment Advisor Today

If you’re interested in learning more about Merrimack’s Bachelor Degree Completion program, an enrollment advisor can provide support throughout your research and application process. They can help determine whether Merrimack’s program fits your goals and confirm the number of credits you need to complete your bachelor’s degree. Schedule a one-on-one appointment with an enrollment advisor to get started.