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Earning an affordable Math Master’s degree can be rather easy if you choose the right college and know how to properly utilize the resources you have available to you. It’s important to remember that you do not want to trade affordability for quality. With that being said, you have multiple options when it comes to colleges and universities that are well-known for their academic excellence. The first way to save money is to find the school with the tuition costs that are in your range. You will also have to include the cost of your books and housing if you plan on living on campus.

The second step is to find grants and scholarships that will help you reduce your overall cost. While you may still have to finance a small portion of your tuition, there are multiple grants and scholarships for undergrads who are enrolling in a Mathematic Master’s degree program. If a student is already employed, their company may offer a reimbursement program that will allow the graduate to recoup some of their tuition costs once they complete their studies. Taking courses online is sometimes cheaper than on-campus courses.

Methodology: Ranking the Most Affordable Math and Statistics Master’s 

Obviously, there has to be more to a ranking than cheap tuition. Great Business Schools editors feature only accredited, trustworthy programs that have a proven track record of quality. But from there, the ranking is presented in order of tuition cost, from lowest to highest, using IPEDS data. 

1. Wayne State University

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Wayne State University offers an affordable MA in Mathematical Statistics degree programs for students who are interested in working as an actuary, statistician, operations research analyst, or any type of job where mathematics and statistical analysis are commonly used. With this type of degree, students learn skills that allow them to record and understand statistics and to use that information to create actions that provide the desired results. An affordable math Masters degree can open the doors to opportunities for advancement that will further their career.

Wayne State University enjoys a rich history that proves the quality of its degree programs and the reputation of its staff. The university embraces a very diverse student body that brings together students from several cultures. Wayne State University goes to great lengths to ensure each graduate is fully prepared to take the next step, whether it be enrolling in a graduate degree program or entering the workforce as a professional. Graduating with a Masters of Arts in Mathematical Statistics degree from Wayne University is the first step toward creating the career of your dreams.

Degree: Master of Arts in Mathematical Statistics

2. Stanford University

stanford u

Stanford University offers an affordable M.S. in Statistics for students who plan on entering the workforce as an actuary or other professional who deals primarily with mathematics and various types of equations. Statistics and mathematics are used to some degree in almost every industry. Statistics are used to evaluate the health of a business, determine potential risk and to make predictions about a company’s future. An affordable math Master’s degree program provides graduates with the necessary skills to be successful in whatever career path they choose.

Stanford University has been a leader for many decades when it comes to offering the highest level of education to students who are interested in becoming professionals in their chosen career fields. Faculty members and instructors teach from experience, offering their students both sound advice and guidance to assist them in making their way through any situation. Graduates leave Stanford University knowing they have a degree from one of the most reputable universities in the world. They also know they have the skills they need to get the type of job they are looking for.

Degree: Statistics, MS

3. Georgia Institute of Technology

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Georgia Institute of Technology offers an affordable MS in Statistics that can be used to gain employment in one of several different industries. With an MS degree in Statistics, a graduate can find employment as an actuary, statistician, or quantitative research analyst among others. Aj affordable math Master’s degree program offers the skills a graduate needs to be a leader in their field. This includes teaching them how to take whatever action is needed in order to resolve a situation that could have a devastating effect on the business. Georgia Institute of Technology’s MS in Statistics degree program offers students an opportunity to pursue their career goals at a price they can afford.

Georgia Institute of Technology is one of the premier colleges in the southeastern United States when it comes to state of the art resources and quality course material. Students who attend the college receive guidance and support from professionals who have chosen to become instructors. The insight these professionals provide to the students gives them a unique perspective about the career field they are preparing to enter. As students graduate, they can rest assured, they have all the tools and skills they need to succeed in whatever job they choose to accept.

Degree: Statistics, MS

4. University of New Mexico

university of new mexico

The University of New Mexico offers an affordable Master’s in Statistics for students who are ready to take the next step in their career. A Master’s degree in Statistics opens the door for students who are interested in finding employment as an actuary, statistician, quantitative researcher, or any other position where statistics and data are used on a regular basis to conduct business. Graduates who earn an MA in Statistics can explore job opportunities on both a domestic and international level.

The University of New Mexico has a positive reputation when it comes to providing students with a quality education. The coursework that is offered by the University is comparable to other universities in both quality and consistency. Faculty members and instructors dedicate their time to making sure each student fully understands the core concepts they are being taught. Students are offered a variety of opportunities to gain experience while they attend classes at the University. An MA in Statistics degree is the first step in moving forward once you know what type of career you want to pursue.

Degree: Statistics, MA

5. University of Illinois

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The University of Illinois is offering an affordable Masters in Statistics degree for students who are looking to expand on their Computer Science and other Mathematics degrees. It offers tangible benefits for individuals who are working as statisticians and actuaries with insurance companies and financial organizations. The skills and resources provided by the University lay the groundwork that the graduate can build on as they begin to lay the foundation for their career. With an affordable MS in Statistics from the University of Illinois, graduates can rest assured they are ready to establish themselves as professionals.

The University of Illinois is one of the most well-respected universities in the country when it comes to state of the art technology and advanced academics. Faculty members are hand-picked to teach courses that are designed to not only push the boundaries of learning but also challenge the students to think for themselves. They are taught to look for solutions that are innovative and sound. They can accomplish all of this and more with an affordable math Master’s degree from the University of Illinois.

Degree: Statistics, MS

6. Iowa State University

iowa state

Iowa State University offers an affordable Masters in Statistics that can be used to pave the way for a new career or open the door to new opportunities in an existing career. A degree in statistics or mathematics is for those who excel when working with numbers. Students are provided with the skills they need to analyze large amounts of data/ This enables them to predict possible outcomes and create proactive solutions to keep their businesses running smoothly.

Iowa State University has a solid reputation throughout the Midwest for being one of the most reputable schools in terms of academics and advanced class programs. Students enjoy state of the art technology and resources that they can use throughout their college career to gain the experience they need to continue to make advancements. Once they graduate, their MS in Statistics will provide them with new opportunities as they take the first steps toward their future career.

Degree: Statistics, MS

7. Florida State University

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Florida State University is one of the country’s most popular schools when it comes to affordable math Masers in Statistics. With an MS in Statistics, Florida State students are taught how to evaluate and analyze data, determine the probability of risk, and find innovative solutions that can be used to protect the interest of both the customers, as well as the business. They are able to participate in internships and other programs that give them a chance to earn hands-on experience. With an affordable Master’s degree in Statistics, students can begin their career with confidence.

Florida State University has a long-standing reputation throughout the south for providing students with a quality education. Faculty members are proven professionals who have dedicated themselves to teaching their students everything they know about mathematics, statistics, and the theories and concepts that go along with each. Students who graduate with their Ms in Statistics from Florida State University carry with them everything they need to succeed.

Degree: Statistics, MS

8. North Carolina State University

north carolina state ncsu

North Carolina State University provides a Masters of Statistics degree program for students who have made the decision to further their careers. This affordable math Masters program includes all of the courses that are required to pass specific certification tests as well as ensure the student has leadership skills. By instilling these skills students will be confident in their ability to create positive solutions for difficult situations. With a Master of Statistics degree, every graduate can work toward achieving their full potential.

Students who attend North Carolina State University are exposed to a learning environment that has been proven to produce scholars of the highest quality. From the coursework to the faculty members, the University has put together a learning system that works. Diversity is key and challenges are designed to not only educate but also inspire each student. Once a student receives their degree, they are on their way to a successful and exciting future.

Degree: Master of Statistics

9. University of Colorado Denver

u colorado denver

The University of Colorado Denver offers an affordable math Masters in Statistics for students who want to complete their Mathematics degree. Skills, tools, and resources are offered that enable students to rise to the challenge of any situation and be able to create viable solutions. The knowledge they receive will allow them to pass any certification test that is required for their position. Earning an MS in Statistics will help each graduate achieve the goals they have set for themselves.

For decades, the University of Colorado – Denver has set the mark for students in the area who want to pursue their education. Both students and faculty come together to create a learning environment that is like no other. The resources provided by the University offer students additional insight into the theories and concepts they must learn to be successful. Obtaining an affordable math Masters in Statistics from the University of Colorado is the first step in the process.

Degree: Statistics, MS

10. University of Maryland

u maryland

The University of Maryland offers a Master’s degree program for both Applied Mathematics & Statistics and Scientific Computation. Students who choose to pursue either one of these degrees have already advanced to a point where the education they receive must go above and beyond in terms of skills and knowledge. These skills can open doors in the fields or research, industry/manufacturing, insurance, and finance. Graduating with an affordable math Masters in either of these areas will provide the student with all the tools they need to become certified in their chosen field.

The University of Maryland has set the standard for education in the state when it comes to higher learning and helping its students take their first steps toward a new career. Faculty members are committed to providing an education that will allow each student to succeed, be it as an employee or a member of management. The University has established an environment that empowers as well as educates giving each graduate the confidence to achieve any goal they choose to pursue.

Degree: Applied Mathematics & Statistics, and Scientific Computation, MS

How Should I Get My Master’s in Mathematics: Online or On-Campus?

Every person is different. If a student needs a more structured learning environment, attending classes on-campus may be their best bet. On-campus learning also offers personal interaction with faculty members and counselors. Students who attend class on-campus also have access to study groups and gatherings that can be extremely beneficial for students who are having difficulty. Online campuses also offer a distraction-free learning environment where students can complete their work without interruption.

If you are wondering how to get a Masters degree in Mathematics without attending class on campus, you have the option to attend your classes online. Online degree programs offer the exact same course materials that you would receive if you chose to sit in a classroom. The primary difference is that you are able to do your coursework when it is most convenient for you. The flexibility of online classes allows you to work a full-time job and still attend class and earn your degree. This is a great way for someone who has already established themselves to go back to school and earn their degree. Having the additional credentials may provide more opportunities for advancement much quicker than gaining years of experience.

How Much Can I Make with a Master’s in Mathematics?

Graduates who have earned a Masters in Mathematics degree can expect to earn approximately $90,000 to $105,000 a year. In 2011, the median salary for an analyst, or a similar position was approximately $78,840 per year. Over the past few years, the number has steadily increased due to the high demand for qualified personnel who had the required skills to work as a mathematical/statistical professional. Graduates who possess a Master’s degree in various mathematical professions can expect to earn a higher salary, especially if they have experience.

When it comes to salary for individuals who have earned a Master’s degree in Mathematics, there are several factors to consider. The person’s education is only part of the equation. Two significant factors are years of experience and performance (either in school or while performing their duties). Individuals who have already earned a Bachelor’s degree and are using their Master’s as a means to advance within their career can expect a much higher salary than someone who graduates with a Master’s degree but has no tangible, hands-on experience.

How Much Can I Make with a Master’s in Statistics?

The earning potential of a graduate with a Master’s Degree in Statistics averages about $80,000 per year. That is the average for 2016, so 2020’s numbers are somewhat higher. A graduate’s future earning potential is only limited by how far they want to push themselves. Graduates with a Master’s degree in Statistics may start out at a considerably lower wage, but if they have the skills and determination, they can prove themselves rather quickly.

Statisticians who are already working in their chosen career can increase their earning potential by returning to school and earning an advanced Master’s degree. Hands-on experience combined with an advanced Master’s degree in Statistics will increase your opportunities to move forward. It may even open the door to management positions. The key is to get high grades and pass a certification test that will vouch for your knowledge and skills.

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