Master's Degree Cost: Average Fees Explained

A master's degree costs more or less depending on the field, the school, and the length of the program. A one-year degree at a public university and a two-year program at a private school can sit at opposite ends of the range. Graduate students also have more ways to cut the bill than undergraduates, including assistantships, fellowships, and employer tuition benefits, so the published price is often not what a student pays.

The figures below come from the Education Data Initiative and NerdWallet, last checked on Oct 13, 2026. They describe the cost of the degree as published, which is a different number from the net price after aid.

Education Data Initiative breaks the average down by degree type. Education programs sit at the low end, and arts programs at the high end.

A Master of Education averages $44,640, and a Master of Science averages $61,380. A Master of Business Administration averages $60,410, and a Master of Arts averages $71,140. Within each type, costs vary a great deal by school, so use these as a starting point and check the specific program you are considering.

The type of school also shapes the total.

Education Data Initiative lists an average of $48,870 at a public school and $55,640 at a private for-profit school. For private nonprofit schools, check each program's own tuition page.

Looking at individual programs shows how wide the range is. Education Data Initiative also reports what a full-time master's student typically spends each school year.

The typical full-time student spends $31,410 – $41,880/yr a year. At the University of Michigan School of Public Policy, in-state tuition and fees run $35,040/yr a year, and out-of-state students pay $59,462/yr. The University of California's Master of Public Policy lists $31,910/yr for in-state students and $44,155/yr for out-of-state students. These are single-program examples, not national averages, and they show how much residency changes the bill at a public university.

The costs above are published prices. Graduate students can lower them in ways that depend on the program.

• Assistantships. Some programs pay a stipend or waive tuition in exchange for teaching or research work.
• Fellowships and scholarships. Schools and outside organizations award these on merit or need.
• Employer tuition benefits. Many employers help pay for degrees related to a job. Federal tax rules limit how much of that help is tax free, so ask your employer and a licensed tax professional.
• Federal loans. Graduate students can borrow federal loans, and annual and total limits apply. Details are on studentaid.gov.

Fully funded programs, which are more common in research degrees, can reduce tuition to near zero. Other programs may offer little or no funding, so budget for the published price until a school confirms otherwise.

The sources below agree because NerdWallet cites the Education Data Initiative figure rather than running its own survey.

Education Data Initiative reports an average of $62,820 with a range of $44,640 – $71,140. NerdWallet repeats that range and calls the average the cost of a master's degree in 2025. Other education sites publish different numbers, including per-year figures that fold in housing and living costs. When you compare numbers, check whether they cover tuition only or the full cost of attendance, and whether they describe one year or the whole program.

• Program length. A one-year program and a two-year program have different totals.
• Field of study. In the averages above, education degrees cost the least and arts degrees the most, and individual programs differ further.
• Public or private. Public schools usually charge less, especially to in-state residents.
• Residency. Out-of-state students at public schools pay higher tuition.
• Format. Online, part-time, and full-time programs are priced differently, and part-time students pay over a longer period.
• Fees and living costs. Technology fees, housing, and lost income during study add to the total.
• Financial aid. Assistantships and scholarships can lower the net price.

Look up the total program cost on each school's tuition page and add the required fees. Ask whether tuition is charged per credit or as a flat rate, and how many credits the degree requires. Compare net price for the programs you are admitted to, since aid offers can reverse the order of the published prices. If you plan to work while studying, check how the class schedule fits your job. For borrowing, talk to a school financial aid office or a licensed financial professional.