Tuition rates vary as a function of each online university, but are typically cheaper than tuition rates at traditional universities. Online university tuition may vary as a function of the online university's reputation, degree program or quality of technology and/or instructors. Most students do not have to worry about in-state vs. out-of-state tuition discrepancies. While traditional universities generally charge tuition yearly, online universities calculate tuition costs on a per credit basis.

With online universities, most students also quality for federal financial aid, including grants and loans. However, only students enrolled in a regionally accredited school recognized by the U.S. Department of Education may apply for federal funding. The majority of online universities also offer financing options, including monthly payment installments.