tuition free online phd in finance

• Best Online Ph.D. In Finance Programs

Best Online Ph.D. In Finance Programs Of 2024

Updated: Mar 28, 2024, 12:10pm

A Ph.D. in finance can prepare you for various specialized, high-level roles in financial management , business management, financial analysis and academia. Schools of business often offer finance as a concentration within a broader business management or business administration doctoral program .

Finance doctoral programs explore investment analysis, strategic financial planning, advanced accounting and corporate finance. In addition to coursework, students must research, write and defend a dissertation.

This page lists all four schools that meet our ranking criteria and offer online Ph.D. in finance programs. Learn how to choose and what to expect from a Ph.D. in finance program.

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Our Methodology

We ranked four accredited, nonprofit colleges offering online Ph.D. in finance programs in the U.S. using 14 data points in the categories of student experience, credibility, student outcomes and affordability. We pulled data for these categories from reliable resources such as the Integrated Postsecondary Education Data System ; private, third-party data sources; and individual school and program websites.

Data is accurate as of February 2024. Note that because online doctorates are relatively uncommon, fewer schools meet our ranking standards at the doctoral level.

We scored schools based on the following metrics:

Student Experience :

• Student-to-faculty ratio
• Socioeconomic diversity
• Availability of online coursework
• Total number of graduate assistants
• Portion of graduate students enrolled in at least some distance education

Credibility :

• Fully accredited
• Programmatic accreditation status
• Nonprofit status

Student Outcomes :

• Overall graduation rate
• Median earnings 10 years after graduation

Affordability :

• In-state graduate student tuition and fees
• Alternative tuition plans offered
• Median federal student loan debt
• Student loan default rate

We listed all four schools that met our ranking criteria.

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Online Ph.D. in Finance Options

How to find the right online finance ph.d. program for you, should you enroll in an online ph.d. in finance program, accreditation for online ph.d.s in finance, frequently asked questions (faqs) about online ph.d.s in finance, university of the cumberlands, texas tech university, kansas state university, national university.

Program Tuition Rate

$749/credit

Percentage of Grad Students Enrolled in Distance Education

Overall Graduation Rate

The University of the Cumberlands in Williamsburg, Kentucky, offers a hybrid executive Ph.D. in business with a specialty in finance. Learners develop leadership, research and teaching skills that can help them excel in business.

The curriculum includes core, professional research and specialty area coursework. The program also requires an applied learning practicum every semester, which lets students apply knowledge in real-world settings and gain professional experience. Learners must also attend an intensive in-person residency weekend each semester.

Admission requirements include a minimum 3.0 GPA and a master’s degree in a relevant field.

• Our Flexibility Rating: Learn on your schedule
• School Type: Private
• Application Fee: $30
• Degree Credit Requirements: 66 credits
• Program Enrollment Options: Full-time
• Notable Major-Specific Courses: Managerial ethics and social responsibility, comparative economics
• Concentrations Available: N/A
• In-Person Requirements: Yes, for residency weekends and applied learning practicums

$9,518/year (in-state)

Texas Tech University claims to offer the first Ph.D. in financial planning, a 60-credit program that equips students for careers in financial planning research and academia. Texas Tech delivers the Ph.D. both on campus and online.

Students in the program must complete a dissertation in addition to 60 credits of graduate coursework. The degree prepares students to become Certified Financial Planners™ (CFPs), and learners who have not yet completed a CFP board-registered financial planning program may have to complete additional classes. The degree program requires an entrance exam and field experience.

• Our Flexibility Rating: Learn around your 9-to-5
• School Type: Public
• Application Fee: $75
• Degree Credit Requirements: 60 credits
• Example Major-Specific Courses: Security industry essentials for financial planning professionals, legal and regulatory aspects of personal financial planning
• In-Person Requirements: Yes, for field experience

$661/credit

Kansas State University features a Ph.D. in personal financial planning available in a hybrid format, with some degree requirements taking place on the school’s Manhattan, Kansas, campus. K-State claims to offer the first predominantly online personal financial planning doctorate, one of only three programs registered with the CFP Board. The program is designed with working professionals in mind.

Learners take online courses during the winter and spring semesters. During summer terms, students complete residency sessions and 10-day intensives on campus. The final summer term involves international travel to explore how global markets impact financial planning in the United States.

• Application Fee: $65
• Degree Credit Requirements: 90 credits
• Example Major-Specific Courses: Retirement planning for families, introduction to financial therapy
• In-Person Requirements: Yes, for on-campus residencies and cohort travel

$442/quarter credit

You can earn a fully online Ph.D. in business administration degree with a concentration in financial management from National University , based in San Diego, California. The program explores financial analysis, strategic planning, and research and development. Coursework focuses on international financial issues, accounting for nonprofit organizations and investment analysis. Students also complete dissertation research.

You can start working on your degree whenever it’s most convenient for you, with start dates every Monday. The program requires 20 courses and takes 40 months to complete. For direct entry into the program, you’ll need a master’s degree in a general business area or a master’s in any field and an undergraduate business degree.

• Application Fee: Free
• Degree Credit Requirements: 60 quarter credits
• Notable Major-Specific Courses: Investment portfolio analysis, advanced financial statement analysis
• In-Person Requirements: No

Not sure where to start in your college search? Let’s explore your options.

Consider Your Future Goals

An online doctorate in finance can help you obtain the knowledge and credentials you need to qualify for an advanced, research-based career in finance . But each program is unique, so you’ll need to do some research to find the one that best matches your career goals.

For example, find out if your prospective online Ph.D. in finance requires an internship or another form of field experience. Real-world experience can round out your education and help you make valuable connections for when you graduate. However, it can also add time to your degree and make it more difficult to work your learning around a full-time job.

Understand Your Expenses and Financing Options

Our guide includes four online Ph.D. in finance programs. Though tuition rates vary widely among programs, total tuition for the best online Ph.D. in finance programs on our list averages around $45,000.

To help fund your degree, you can apply for federal student aid, including scholarships, grants and loans, by filling out the Free Application for Federal Student Aid . You can also ask about funding opportunities like scholarships, grants, fellowships, and graduate research and teaching assistantships offered directly by your university or department.

Online learning can make a graduate-level education more accessible in many ways, but distance learning doesn’t necessarily work for everyone. Weigh the following when deciding whether to enroll in an in-person or online finance Ph.D.

• What’s your learning style? Online programs work best for students who don’t have a problem staying on task, managing deadlines and motivating themselves. If you think you’d do better with the structure and support that comes with attending scheduled in-person classes, consider an on-campus program.
• What’s your budget? If you’re looking to earn your Ph.D. in finance at a lower cost, online programs can provide savings. While out-of-state students usually pay higher tuition rates to attend in-person programs at public universities, online learners often receive discounted rates regardless of where they live. Distance learners can also save money by avoiding high costs associated with relocation, housing and transportation.
• What’s your schedule? If you need flexibility to manage a job or other time-consuming responsibilities while in school, an online program might be your best bet. Asynchronous programs in particular allow you to complete coursework on your schedule through pre-recorded lectures and online discussion boards.

Any school you consider for your online finance Ph.D. should hold institutional accreditation. You’ll need to attend an accredited school if you want to qualify for federal financial aid. Plus, employers and credentialing bodies often recognize degrees only from accredited institutions.

Institutional accreditation comes from third-party agencies that assess colleges to ensure they meet minimum quality standards related to faculty, academic programs, student outcomes and educational resources.

Accrediting bodies in the U.S. receive approval from the U.S. Department of Education or the Council for Higher Education Accreditation.

Programmatic accreditation offers a similar stamp of approval for individual degree programs or departments within universities. You may need a programmatically accredited degree to qualify for certain jobs and professional certifications.

An online Ph.D. in finance might hold programmatic accreditation from an accrediting agency that evaluates business-related programs, such as the Accreditation Council for Business Schools and Programs, the Association to Advance Collegiate Schools of Business or the International Accreditation Council for Business Education.

You can look up school and program accreditation information on CHEA’s website .

What is a Ph.D. in finance?

A Ph.D. in finance is a terminal business degree that develops advanced knowledge and skills in investing, corporate finance and economics. This diploma can prepare for finance-related roles in research and academia.

How long is a Ph.D. in finance?

The time it takes to earn a Ph.D. in finance varies depending on your program and enrollment status. It typically takes four to eight years to complete a doctorate, but you may be able to graduate from an online finance Ph.D. program in a little less than four years.

Is a Ph.D. worth it financially?

It depends on how much your degree costs and how much you can expect to make after you graduate, but a doctoral degree in finance can be well worth the investment. The U.S. Bureau of Labor Statistics (BLS) reports that workers employed in business and financial occupations earned a median annual wage of $76,850 in May 2022. If you pursue one of the higher-paying roles in this field, like financial analyst, you can earn a median salary of $96,220 per year.

How much does a Ph.D. in finance make in the U.S.?

How much you can expect to make with a Ph.D. in finance depends on your job, employer, geographic location and experience level. Ph.D. holders commonly work in academia; the BLS reports that business professors, including finance professors, earn a median annual salary of $88,790.

Liz Simmons has been writing for various online publications about career development, higher education and college affordability for nearly a decade. Her articles demystify the college application process and help prospective students figure out how to choose a major or career path.

Best Free Online Ph.D. Programs of 2024

Written by Kristen Scatton , Interviews with Blanca Villagomez

Updated: September 3, 2024

Compare School Options

Most schools have rolling admissions and financial help so you can start your degree in a few weeks!

Earning a Ph.D. program can unlock doors to new career paths and leadership positions, increase earning potential, and lower unemployment . However, paying for an advanced degree after earning, in most cases, a bachelor’s and a master’s may be a barrier for some students.

Because Ph.D. programs focus on educating leaders and innovators within a given field, many financial support options exist to help students afford doctorate degrees. This article highlights some of the most financially supportive Ph.D. programs in the U.S., including those that may offer students a path to earning a Ph.D. for free. It also includes expert guidance from Blanca Villagomez, a program coordinator and counselor at UC-Irvine, on choosing the Ph.D. program that’s right for you.

What You Should Know About Free Ph.D. Programs

Attending a Ph.D. program for free typically means that a student receives enough financial support from the institution and other sources to fully cover the cost of the program, not that the school doesn’t charge tuition and fees for attendance. Students should carefully research any colleges that claim to offer degrees without charging tuition, as this is not common among legitimate post-secondary institutions.

The most common types of funding for Ph.D. programs include fellowships, assistantships, grants, and scholarships.

Find a fully-funded Ph.D. program

As you research Ph.D. programs, you may encounter the phrase “fully funded.” This is how schools typically advertise free programs, as it means that students receive funding that completely covers their cost of attendance.

In fully-funded programs, students often receive assistantships or fellowships. Students who receive an assistantship are employed by their university, often as teaching assistants (TAs) for undergraduate classes or research assistants (RAs) to faculty or researchers. Arrangements vary by school and program, and students may either receive payment that they can use to pay for tuition and other expenses or have their tuition waived in exchange for their employment. In addition to maintaining academic standards, students must fulfill their work obligations to keep their assistantship.

Meanwhile, fellowships are awards given to doctoral students to continue pursuing an academic focus or interest. Schools and outside organizations can offer fellowships, which are similar to research grants. Fellowships operate more like research grants in that students are expected to use this financial support to help them further their research goals, but there aren’t specific work expectations like there are for assistantships.

In both cases, students may also receive benefits like health insurance, a stipend for living expenses, and tuition waivers. However, it’s important to note that fully-funded Ph.D. programs tend to be highly competitive with limited availability. Students should inquire early about the eligibility criteria for available fellowships and assistantships to ensure they submit a strong application.

Seek out scholarships and grants

Scholarships and grants can also help doctoral students cover the cost of their Ph.D. degree. These types of funding are considered gift aid because they don’t have to be repaid and often don’t have requirements like assistantships or fellowships. Scholarships and grants are often awarded based on financial need, although some may be awarded to students based on academic or professional merit.

Students can obtain scholarships and grants through their institution or outside sources, such as professional organizations, private non-profits and endowments, federal and state governments, and community and religious groups.

In order to obtain need-based aid, students must typically submit the Free Application for Federal Student Aid (FAFSA). Students should consult with their school’s financial aid office to learn more about available scholarship and grant opportunities.

Here are a few examples to give you an idea of exactly how these award programs work:

• CAPCSD Ph.D. Scholarships: Every year, the Council of Academic Programs in Communication Sciences and Disorders awards $20,000 to students enrolled in a Ph.D. program for communication sciences and disorders. Applicants must submit a curriculum vitae, a summary of their research dissertation plan, and a letter of support from their research advisor signed by the program director.
• Russell Sage Foundation Dissertation Research Grants: This award of up to $10,000 is for doctoral students researching topics related to the Russell Sage Foundation’s mission of improving social and living conditions in the United States. Funds from this program must be used specifically for dissertation research expenses, such as study participant incentives, laboratory costs, and travel.

Avoid non-accredited degree mills

When prioritizing free or low-cost Ph.D. programs, it’s important to also be mindful of the quality and legitimacy of the institutions you’re considering.

Make sure that any private college you’re considering is a nonprofit organization. Many private for-profit organizations that offer online degree programs, especially those claiming “free” degree programs, are actually degree mills. This means they operate like a postsecondary institution even though they don’t have the proper accreditation to award legitimate degrees .

Degree mills focus more on generating revenue than providing high-quality education. They often attract users by advertising free tuition, only to charge an assortment of other fees (exam fees, graduation fees, etc.). They also often lack qualified faculty, effective curriculums, and sufficient support staff. Says Villagomez, “Attending a non-accredited college or degree mill can negatively impact a student’s post-graduate opportunities, including employment and professional licensure, as many employers don’t recognize degrees from these types of schools.”

There are a few ways to determine whether a college is legitimate. Check the school’s website for information about accreditation and non-profit or for-profit status. You can independently verify this information using the U.S. Department of Education’s Database of Accredited Postsecondary Institutions and Programs (DAPIP). Look for the names of CHEA-recognized accrediting organizations . Colleges approved by one of these organizations are held to strict standards for academic quality, ensuring that students will be prepared to enter their chosen field upon graduation.

An additional clue is the school’s website. Ensure that the school’s domain name ends in “.edu,” as this signifies it is a recognized educational institution. Other suffixes, such as “.org” or “.com,” indicate that the school is likely for-profit and may lack accreditation.

The 50 Best Free Online Ph.D. Programs

intelligent score 99.17

#14 Start Skool

School Information

New York, NY

Graduation Rate: 85%

Admission Rate: 13%

Urbanicity: City

School Size: Large

Delivery Format Online, On-Campus

Required Credits to Graduate 27-36

Estimated Cost per Credit With Funding Packages for Full-Time PhD Students

accreditation

more program information Email: [email protected] Phone: 212-998-5825

intelligent score 97.87

#4 The Grad Cafe #23 Start Skool

Graduation Rate: 96%

Admission Rate: 6%

School Size: Medium

Delivery Format Online

Required Credits to Graduate 51

Estimated Cost per Credit Offers a number of scholarships and fellowships for funding

more program information Email: [email protected] Phone: 919-660-3436

intelligent score 97.84

#17 Start Skool

Graduation Rate: 88%

Admission Rate: 19%

Required Credits to Graduate 33

Estimated Cost per Credit Offers Scholarships and Financial Aid

more program information Email: [email protected] Phone: 617-353-2696

intelligent score 93.69

#20 Start Skool

Washington, DC

Graduation Rate: 79%

Admission Rate: 64%

Required Credits to Graduate 40

Estimated Cost per Credit $1,918 Offers Partnerships, Discounts, and Scholarships

more program information Email: [email protected] Phone: 202-807-6173

How we rank schools

This list features some of the country’s best free online Ph.D. programs. Each school featured is a nonprofit, accredited institution, either public or private, with a high standard of academic quality for postsecondary institutions.

We evaluated each school’s program on tuition costs, admission, retention and graduation rates, faculty, and reputation. Then, we calculated the Intelligent Score on a scale of 0 to 100. Read more about our ranking methodology .

Next, we compared this comprehensive list of the best free online Ph.D. programs to a list of aggregated college rankings from reputable publications, such as U.S. News & World Report, to simplify a student’s college search. We pored through these rankings so students don’t have to.

Online Ph.D. Programs Frequently Asked Questions

Should i earn a ph.d. degree online or in person.

“When deciding whether to pursue an online or on-campus Ph.D. program, there are several factors to consider,” Villagomez says. “Due to the rigorous nature of a doctorate program, an online program can offer students the flexibility to manage multiple responsibilities while studying and attending classes. However, an on-campus program may be more suitable for those who  prefer direct contact with faculty, peers, and resources.”

Support for research and dissertation preparation is another consideration. “Since a Ph.D. degree consists of extensive research, be sure to screen available programs based on what your research opportunities look like,” Villagomez says. “Conducting research requires many hours of independent study and discipline, so choosing between an online or on-campus program can impact your research trajectory. Ensuring that you have the best team by your side for your dissertation is also imperative. You want to evaluate the strength of a department’s faculty and assess how you will stay connected with them depending on the program setting.”

How much does an online Ph.D. degree program cost?

There are several factors that determine how much an online Ph.D. degree can cost, including the type of school a student attends and how much financial support they receive.

According to the Education Data Initiative , as of 2023, the average cost of a Ph.D. at a public university was $72,990, while students at private institutions paid an average of $101,810 for their doctoral degrees.

As noted above, there are many options students can explore to lower the cost of their Ph.D. degrees. Earning an online degree can also save students money, as it allows students to live in an area with a lower cost of living, eliminates transportation costs like gas and parking, and provides more flexibility so students can continue to work while earning their degree.

For the most accurate information on the cost of a Ph.D. program, consult with a financial aid counselor at your school.

How long does it take to earn an online Ph.D. degree?

The duration of Ph.D. programs varies widely, as they often include flexible timeframes for completing all course and dissertation requirements. According to the National Center for Science and Engineering Statistics (NCSES), as of 2020, the average completion time for a doctorate degree was about eight years. Doctorate degrees in physical and earth sciences took the least amount of time to complete, with an average of 6.3 years. Meanwhile, doctorate degrees in education took, on average, 12 years to complete.

Students should consult with an admissions counselor or program representative from potential programs to get more specific information on the length of time they can expect to be in their Ph.D. program.

Is an online Ph.D. degree worth it?

“Earning an online Ph.D. can provide students with opportunities to advance their careers, develop expertise in their chosen fields, and produce scholarly research,” Villagomez says. “However, determining its worth depends on a student’s personal needs, educational goals, and potential career outcomes. I recommend students evaluate those variables seriously to make an informed decision before pursuing this degree.

Villagomez also points out that, even if students are attending a Ph.D. program for free, earning a doctorate still requires a significant time investment. “These types of programs often require a minimum commitment of five years, although they can often extend beyond that. But longer graduate programs may not always equate to a higher return on investment.” Students should research the earning potential for the career or job they plan to pursue and compare that to the financial and time investment required for a Ph.D. program to help them determine if a program is worth it.

2024 Best Online PhD in Finance Programs [Doctorate Guide]

An online PhD in Finance offers the opportunity to study finance and economics at the highest level.

You can learn how to use financial models and theories to develop a deeper understanding of economic systems and solve business problems. Finance PhD degrees also teach students to conduct quantitative research on financial networks and policies.

Editorial Listing ShortCode:

Graduates can use their knowledge and skills to pursue careers in a variety of areas, including academia, business consulting, data science, finance, and the public sector.

PhD in Finance Programs Online

A Ph.D. in Finance is designed for people who want to immerse themselves in academic research and theory. This degree focuses on advanced financial models and concepts used to explain and forecast the performance of the economy, financial institutions, investments, and other aspects of modern finance.

Doctoral students in this field also study approaches and techniques for conducting empirical research. Students practice collecting and interpreting data from a variety of sources, such as consumer surveys and income statements. They also use econometrics to statistically analyze financial data and trends.

Other topics commonly taught in finance doctoral programs include:

• Asset pricing
• Banking systems
• Corporate finance and capital markets
• Empirical analysis
• Financial decision-making
• Financial markets
• International financial topics
• Macroeconomics
• Market design
• Microeconomics
• Time series analysis

Additionally, students can develop many technical skills related to financial research. For instance, finance PhD programs often encourage students to use programming languages like Python and R to extract and analyze data. Students may also learn to use the latest digital tools to interpret data and create financial models, such as MATLAB and Stata.

Graduates can use their finance PhD degrees to pursue a broad range of careers. Many students enroll in these programs because they want to work in higher education. They may use their specialized knowledge to become professors and academic researchers.

The private sector also provides many employment opportunities for PhD holders. All organizations need business-savvy professionals who can manage financial resources, make predictions, and formulate financial strategies. As a result, there are numerous finance-related jobs in all industries.

Graduates may also secure jobs with nonprofit organizations. Some work as grant writers, while others become policy analysts. Other potential careers in this sector include development officer and program manager. These roles all focus on helping nonprofit organizations generate more income and solve economic or social issues.

Finally, this degree can be beneficial for people who want to become consultants or entrepreneurs. You can learn business tactics and skills that you can use to help clients perform better or to launch your own company.

Finance Careers & Salaries

A doctoral degree in finance can pave the way for many career paths. Many graduates pursue careers as college professors in business, economics, and finance departments. These professionals teach students and publish research in their area of specialty.

Additionally, many graduates secure employment with private corporations and financial institutions, including banks, credit unions, and investment firms. They can become actuaries, cost estimators, financial analysts, and other finance professionals.

These specialists use the advanced knowledge and research skills they gained during their PhD programs to analyze financial data and help corporations make data-driven business decisions.

According to the Bureau of Labor Statistics , here are careers associated with finance and their median salaries.

Some graduates become financial analysts and researchers for government agencies and think tanks. They often help their employers develop and explore the implications of economic policies, political strategies, and social policies. Graduates can also work for or start consulting firms.

Business and management consultants examine their clients’ financial records and operations. They use their findings to identify inefficient workflows and other issues and make recommendations to help businesses improve their performance.

Online Finance PhD Curriculum & Courses

Finance PhD programs teach advanced finance concepts and research skills. The specific curricula vary by program but may include courses similar to these:

• Empirical Methodology in Finance : You’ll learn how to use popular empirical research methods to investigate and solve issues in the finance industry.
• Financial Economics : This course analyzes foundational theories and applications of modern financial economics, such as arbitrage pricing theory, mean variance theory, and stochastic dominance.
• Financial and Economic Networks : You’ll use empirical and theoretical research methodologies to deepen your understanding of financial modeling and networks.
• Household Finance : You’ll explore recent empirical research projects in household finance and learn strategies to gather and analyze data.
• International Finance : This class traces the history of academic research on international finance and covers techniques students can use to conduct research in this field.
• Introduction to Asset Pricing : You’ll investigate how finance institutions use asset pricing models to predict the expected rate of return for investments.
• Introduction to Corporate Finance : You’ll learn how to create, interpret, and conduct quantitative research with corporate finance models.
• Macro-Finance : You’ll examine fundamental areas and methods in macro-finance, such as asset pricing, fiscal policy, and household finance.
• Microeconomics : This course overviews applications and theories of microeconomics, including aggregated demand and general equilibrium analysis.
• Theories of Finance : You’ll study contemporary financial theories and their relationship to asset pricing, corporate finance, and financial markets.

Additionally, many programs require finance PhD students to take courses in statistics and probability.

How to Choose an Online PhD in Finance Program

All finance PhD programs have different educational opportunities, learning environments, and resources. As a result, there are many factors to consider as you compare finance degree online programs, such as:

• Program reputation . Employers often look more favorably at job candidates who graduated from high-ranking institutions with excellent reputations. Additionally, attending a top program could provide more opportunities to develop a robust professional network in your chosen area.
• Research areas . Doctoral students typically research and write about specific topics or subfields that align with their personal and professional interests. It’s beneficial to look for a program with well-known faculty specializing in your chosen areas, such as corporate governance or behavioral finance. These professors can guide your research and connect you with resources.
• Funding opportunities . Some PhD programs in finance offer full or partial funding for qualifying students. You might qualify to receive a tuition waiver, a stipend to cover conference travel, and other financial assistance. You can also inquire about additional funding opportunities, such as grants and scholarships from the college.
• Course format . The specific mode of delivery for online courses varies. Some programs offer synchronous online classes, which allow you to interact with professors and peers over video chat. Others have asynchronous courses that you complete on your own schedule.

Additionally, you can ask a program’s staff if they have current students or recent alumni willing to speak with you. These informal conversations can help you get a better sense of the program’s culture and strengths and weaknesses.

Admissions Requirements

Many PhD programs in finance only admit a limited number of students each year, so the admissions process can be competitive.

Every institution has its own admissions criteria, but here are a few typical requirements:

• Bachelor’s or master’s degree in related field
• Statement of purpose describing your interests, goals, and reasons for applying
• CV listing education, work experience, applicable skills, and volunteer activities
• Confidential letters of recommendation
• Official transcripts

Some colleges and universities also request GMAT or GRE scores, but many programs are phasing out this requirement.

Online PhD in Finance Programs Accreditation

Accreditation is an essential factor to consider as you compare finance doctoral programs, much like when considering an MBA in Finance online or on campus programs. Colleges and universities can earn regional accreditation if an external regional accreditor assesses their programs and faculty and verifies that they meet agreed-upon educational standards.

Accredited programs offer professional and academic benefits. Employers often prefer to hire graduates from accredited schools because they know these candidates have received a quality education. Accredited doctoral programs typically provide access to student support services, such as online library databases and career centers.

Plus, many government agencies and private organizations only distribute financial assistance to students enrolled at accredited institutions.

Financial Aid and Scholarships

As you investigate finance PhD programs, you can also search for financial aid opportunities to help pay for your degree.

Many doctoral programs offer full funding for qualified students. These funding packages could include a stipend, tuition waiver, and health insurance. Students may need to work as a teaching or research assistant in exchange for this funding. Also, they are typically required to maintain a certain GPA and meet program milestones.

The federal government also offers several types of financial assistance for graduate students. You may be eligible for federal grants, student loans, or a part-time work-study program. You can learn more about these opportunities by visiting the Federal Student Aid website.

In addition, many employer offer financial support for workers who want to further their education. You can ask your supervisor about any tuition assistance or reimbursement opportunities.

What Can You Do with a PhD in Finance?

A doctoral degree in finance can help you qualify for many lucrative careers. Many graduates use their expertise and research skills to secure positions as postsecondary teachers.

The Bureau of Labor Statistics predicts that the demand for this career will increase by 12% over the next decade. Additionally, a PhD in Finance can help prepare you for numerous jobs in business and finance. Some graduates become financial managers and oversee their organization’s investments and revenue.

Finance is a good career path for many students. Other potential career paths in the finance industry include financial examiner, chief financial officer (CFO), management analyst, and operations research analyst. These positions focus on data analytics and strategic decision-making.

Should I Get a PhD in Finance?

Finance PhD degrees tend to be rigorous and involve extensive research and writing.

Here are a few signs that this degree could be the right fit:

• Your preferred career requires a terminal degree in the field.
• You enjoy studying economics, mathematics, and statistics.
• You want to become an expert in financial systems and theories.
• You’re passionate about researching topics in business and finance.
• You want to publish your research for academic audiences.
• You’re interested in teaching students.

If some of these criteria apply to you, a doctoral degree in finance could be a strategic next step.

How Long Does It Take to Get a PhD in Finance Online?

Most PhD programs in finance take 3 to 5 years to complete if you enroll full-time. But several factors can affect how long it takes you to graduate.

Programs that require a dissertation typically take longer. Many students spend a total of 5 years—including 3 years completing coursework and 2 years writing their dissertation. Some students take longer, though, to finish their dissertations, extending the length of their program.

Doctorate programs that don’t require a dissertation may be completed in 3 to 4 years if students are enrolled full-time.

What’s the Difference Between a DBA vs. PhD in Finance?

A Doctor of Business Administration (DBA) and a Doctor of Philosophy (PhD) are both terminal degrees in finance, but they have a few crucial differences.

A PhD could be a strategic choice if you’re passionate about research and teaching.

Is a PhD in Finance Worth It?

Yes, a PhD in Finance is worth it for many students. This degree allows you to develop a deeper understanding of economics, financial markets, and investment techniques. You’ll also learn how to identify business problems and mitigate risk.

In addition, a doctorate in finance enables you to develop expertise in specific areas of finance. For instance, you could specialize in behavioral finance, econometrics, or financial technologies. Expertise in these fields could lead to career paths in academic institutions, corporations, tech startups, and other organizations.

The Bureau of Labor Statistics predicts that overall employment of business and finance professionals will increase by 7% over the next ten years, and 12% job growth is projected for postsecondary teachers.

Universities Offering Online Doctorate in Finance Degree Programs

Methodology: The following school list is in alphabetical order. To be included, a college or university must be regionally accredited and offer degree programs online or in a hybrid format.

A Doctorate in Personal Financial Planning is available through Kansas State University. The program is 1 of only 4 in the country recognized by the Certified Financial Planner Board of Standards. Coursework is completed online during the fall and spring. There are three summer residencies, lasting 10 days each. The final residency is abroad. Kansas State University is accredited by the Higher Learning Commission.

National University offers a PhD in Business Administration with a concentration in Financial Management. The program may be completed entirely online. On average, the required 60 credits may be completed in 73 months. Courses are 4 to 8 weeks long. The school offers weekly start dates. National University is accredited by the WASC Senior College and University Commission.

A Doctorate of Professional Studies with a concentration in Finance may be earned through Pace University. Coursework is completed online with Friday sessions on campus once per month. Courses follow a semester schedule. Typically, the 19 required courses may be completed in 3 years. Pace University is accredited by the Middle States Commission on Higher Education.

Texas Tech University offers a PhD in Personal Financial Planning. The program is available fully online or on campus. The program requires 72 credits. Courses follow a semester schedule with 3 start dates. Upon completion, graduates may be eligible to take the CFP Certification exam. Texas Tech University is accredited by the Southern Association of Colleges and Schools Commission on Colleges.

A PhD in Business with a specialization in Finance through the University of the Cumberlands. Coursework is online with fieldwork or an internship required. The program requires 66 credits including 24 hours in professional research and 24 hours in Finance. Courses are in half- or full-terms. The University of the Cumberlands is accredited by the Southern Association of Colleges and Schools Commission on Colleges.

Walden University offers a PhD in Management with a specialization in 21st Century Finance. The program is fully online and requires 4 brief academic residencies. The program is course-based with weekly assignments. Most courses are asynchronous in format. Courses are in an accelerated format with several start dates each year. Walden is accredited by the Higher Learning Commission.

Getting Your Doctorate in Finance Online

If you want to study and help solve complex business and financial problems, you might consider earning an online PhD in Finance.

Finance doctoral programs teach students about asset planning, financial models, regulations, and other topics. They also cover empirical research skills, such as creating surveys and managing datasets. Graduates apply their knowledge in many positions. Some become college professors, while others pursue roles as financial managers, consultants, and marketing analysts.

You can kickstart your doctoral journey by exploring online finance PhD programs from accredited schools today.

2024 Fully Funded Online PhD Programs [Doctorate Guide]

If the cost of an advanced degree has discouraged you from furthering your education, fully funded online PhD programs may be the answer.

These doctoral programs provide students with the opportunity to enhance their knowledge and skills in their field without paying high out-of-pocket expenses. They typically cover your tuition and may also pay for fees, living expenses, and course materials.

Editorial Listing ShortCode:

Schools offer affordable PhD programs in many specializations, so students can pursue their goals no matter their area of interest. Earning a free doctorate degree online could help you grow your career prospects and become an expert in your field.

Universities Offering Fully Funded PhD Degree Program Online

Methodology: The following school list is in alphabetical order. To be included, a college or university must be regionally accredited and offer fully funded PhD programs online or in a hybrid format.

Boston University

Boston University typically offers free tuition, a stipend, and a health insurance credit to eligible PhD students. Students have 5 years to complete a PhD program. Funding details are based on the specific program. Programs include Behavioral Neuroscience, Astronomy, and Theological Studies. Most programs are available online and on campus.

Boston University is accredited by the New England Commission of Higher Education.

Brown University

PhD students at Brown University may be eligible for financial support, including free tuition, a stipend, and medical assistance. Brown requires participation in a teaching assistantship, fellowship, or research assistantship to be eligible for these benefits. These benefits are available for 5 to 6 years. Programs include Anthropology, Political Science, and Physics.

Brown University is accredited by the New England Commission of Higher Education.

Johns Hopkins University

Johns Hopkins University works with students to make getting a hybrid PhD more affordable. Those who have earned a master’s through Johns Hopkins may be eligible for free tuition and a stipend for 3 years, while transfer students may be eligible for 4 years. Programs include International Policy and Regions of the world.

Johns Hopkins University is accredited by the Middle States Commission on Higher Education.

New York University

New York University PhD students may be eligible for funding, including full tuition, stipends, and health insurance credits. Aid is typically available for up to 5 years. NYU currently offers a PhD in Hebrew and Judaic Studies, with the option to add a History degree.

New York University is accredited by the Middle States Commission on Higher Education.

Northwestern University

PhD students at Northwestern University usually receive total funding for at least 5 years. Students who wish to earn more can take on teaching or research assistant roles. Courses are in quarter semesters and are offered 4 times each year. Northwestern offers over 60 PhDs, including Music and Linguistics.

Northwestern University is accredited by the Higher Learning Commission.

Temple University

Temple University offers full tuition remission and a stipend to all eligible PhD students. Programs require participation in research or teaching assistant projects for up to 20 hours each week to receive this funding. The funding is renewable for up to 5 years. Programs include Business Administration, Statistics, and Decision Neuroscience.

Temple University is accredited by the Middle States Commission on Higher Education.

University at Buffalo

The University at Buffalo’s PhD Excellence Initiative helps highly qualified students earn a fully-funded PhD Students work as a research or teaching assistant in exchange for a yearly stipend. UB offers multiple PhD programs online including Nursing and Information Science. All courses are completed online with synchronous and asynchronous coursework.

The University at Buffalo is accredited by the Middle States Commission on Higher Education.

University of Michigan

The University of Michigan provides several opportunities to fun joint PhD programs in Social Work and Social Science. Students work as teaching or research assistants and receive tuition, a stipend, and healthcare. Students are eligible for up to 5 years and may not work over 10 hours per week outside of university commitments.

The University of Michigan is accredited by the Higher Learning Commission of the North Central Association of Colleges and Schools.

Vanderbilt University

Vanderbilt University offers the opportunity to earn a PhD in Nursing. The school offers full tuition and a stipend for up to 4 years of the program. Most of the program is online with a short residency required each semester. The program begins each fall and follows a semester schedule.

Vanderbilt University is accredited by the Southern Association of Colleges and Schools Commission on Colleges.

Yale University

PhD students at Yale University may have tuition covered along with a 12 month stipend. These services are available for up to 5 years. There is also the possibility of funding for an additional year. Programs include Environmental Science and Comparative Literature.

Yale University is accredited by the New England Commission of Higher Education.

Fully Funded Online PhD Programs

Earning a fully funded PhD online sounds like it’s too good to be true, but it’s a realistic possibility if you’re prepared to invest time and effort into the application process and your studies.

Most colleges and universities require students to hold a minimum of a bachelor’s degree to enroll in a PhD program. Others will only accept students who have earned a master’s degree in a relevant field. Professional experience may also help strengthen your application.

If you’re admitted to a fully funded online PhD program, you’ll have the chance to earn your degree without taking out excessive loans. Many of these doctoral degree programs pay for most or all of the costs of attendance—including tuition, fees, and living expenses.

In exchange for this funding, some programs employ students as teaching or research assistants. In these roles, PhD candidates provide support to current faculty and balance this work with their own classes and research.

An online PhD may help prepare you for a career with desirable employers, such as:

• Colleges and universities
• Research labs
• Government agencies
• Private businesses
• Healthcare facilities

These organizations hire graduates of PhD programs to work in prominent roles, including analysts, researchers, policy developers, and engineers. If you’re currently working in your field of choice, a PhD may also help you advance into a position as an executive or administrator.

Many graduates of these programs also work in higher education as professors, academic deans, and presidents. A PhD helps you build a foundation of knowledge that allows you to conduct research and teach upcoming undergraduate and graduate students.

PhD Careers & Salaries

You can earn a PhD in a wide range of fields, and the degree you complete will determine what career paths are available. Many job paths for PhDs offer healthy salaries and opportunities for advancement.

Students often enroll in PhD programs because they want to enter academia. Universities typically require that college professors have a PhD and are capable of conducting advanced research and publishing articles and books related to their work.

A PhD is also an asset if you hope to build a career in science or technology. These specialized fields involve the sophisticated skills and technical knowledge that a PhD program typically provides.

According to the Bureau of Labor Statistics , these are some of the most common careers for graduates of PhD programs, depending on their specialty.

In addition to paying above-average salaries, many of these careers are also expected to experience accelerated growth. For instance, according to the Bureau of Labor Statistics, the projected growth rate for epidemiologists over the next ten years is 26%.

The growth rates for computer and information research scientists (21%), medical scientists (17%), and postsecondary teachers (12%) over this period are also much higher than the average rate for all occupations.

How to Get a Fully Funded PhD Program Online

Gaining admission to a fully funded PhD program can be more challenging than enrolling in bachelor’s or master’s degree programs. Here are some tips to consider:

• Consider STEM programs . PhDs in science, technology, engineering, and math often offer full funding to students. You may have more schools to choose from if you complete a STEM degree.
• Check accreditation status . It’s strategic to avoid any online PhD program that isn’t accredited. A lack of accreditation could indicate that the program is of low quality or will not properly prepare you for the professional world.
• Apply for fellowships or assistantships . International students may qualify for fellowships that pay for tuition and provide a stipend. Many fully funded programs require students to participate in an assistantship focused on teaching or research.
• Fine-tune your application . Most fully funded PhDs only accept a few students for each academic year, and they base their admissions on your application materials. It’s beneficial to look closely at each program’s requirements and adhere to them as closely as possible.

When you research fully funded PhDs, be wary of any program that makes exaggerated promises or cannot provide job placement or graduation data for recent students.

Advantages and Disadvantages of Fully Funded Online Doctoral Programs

Prospective PhD students may struggle to decide whether a fully funded program is the right path. Fully funded online doctoral programs offer a variety of benefits and drawbacks, including:

When deciding whether a fully funded online PhD is a good fit for you, you might consider your learning style, preferences, and goals.

Admissions Requirements

Fully funded PhD programs are usually selective, so it’s important to carefully follow their application process. Admissions requirements for online PhD programs for working professionals may include:

• Test scores . While it’s not always required, some schools have you submit current scores from the GRE or other standardized tests.
• Transcripts . Request official transcripts from schools you previously attended, including undergraduate and graduate programs.
• Statement of purpose . You can describe your motivation for pursuing a PhD, why you selected this particular program, and your specific research interests.
• Recommendations . You can ask former professors or supervisors to explain why you would excel in an online PhD program.
• CV . It’s beneficial to list all relevant professional, publishing, and volunteer experience.

Some universities also require students to participate in a virtual interview or provide a portfolio that demonstrates the strength of their past work.

Fully Funded PhD Programs Online Accreditation

When selecting an online PhD program, it’s vital to determine whether it has regional accreditation . Some online schools offer degrees with little to no academic value, but a regionally accredited institution must meet certain standards of excellence.

Attending a program that has met the high bar of a regional accrediting board usually provides you with a better educational experience that includes the most current practices and theories in the field. For this reason, most employers only accept PhDs from accredited schools.

If you end up changing programs before graduating, it’s generally easier to transfer credits from programs with regional accreditation.

How Much Does a PhD Cost?

The cost of PhD program tuition varies widely based on the school you attend. Rates generally range from $500 to $2,000 per credit hour. In addition, students often have to pay for materials and fees on top of their base tuition.

A PhD program could range between 60 and 120 required credits, so the total cost of tuition and fees could easily reach top dollar. A fully funded PhD reduces or removes much of this cost by allowing students to complete their degrees without paying tuition.

What Does Fully Funded Mean?

Fully funded means that a PhD student doesn’t pay any of the costs of attending a doctoral program. This generally includes all tuition and fees required for full-time enrollment in the program. In many cases, the university covers these costs. Students may also receive funding from private businesses or sponsors.

To ensure that students can focus solely on their studies during the program, a fully funded PhD may also include a stipend to cover living expenses and housing. Some colleges require students to complete teaching or research assistantships to receive their funding.

What Is Funded in Fully Funded Doctorate Programs?

A fully funded PhD program essentially covers the costs associated with attending school. This typically includes:

• Full-time tuition for the duration of the program
• Fees required by the university
• Living and housing expenses
• School-provided health insurance

This funding is usually only provided for 3 to 5 years of study. This helps ensure that students complete their programs in a timely manner. If a fully funded PhD doesn’t completely address the cost of a student’s degree, the school may also offer additional financial opportunities. Scholarships, grants, and loans are possible avenues to fill the gaps in funding.

What Can You Get a PhD in?

There are PhD programs available for practically every field. Popular doctoral specializations include:

• Educational administration and leadership
• Physical therapy
• Electrical engineering

Although there are PhD programs available for each of these disciplines, some may be more suitable for online study. A PhD program that involves hands-on learning or lab work may not be as ideal for an online format.

Some online PhD programs that require in-person components allow students to participate in fieldwork in their communities. Other disciplines that focus primarily on research and writing can more easily be completed online.

What Are Some of the Highest Paying PhDs?

Your future earnings ultimately depend on your employer, geographic location, and professional experience, but some PhDs tend to have better pay than others.

Many of the highest paying PhDs are related to science. For example, medical scientists earn median annual salaries of $95,310, physicists make a median of $152,430, and the median for computer and information research scientists is $131,490 (Bureau of Labor Statistics). Postsecondary education administrators also have competitive salaries, with median earnings of $96,910 per year.

Depending on their specific field and whether they have tenure, college professors may earn salaries above six figures. For example, $104,940 is the median salary for engineering professors.

What’s the Difference Between a Doctorate vs. PhD Degree?

People sometimes use the terms doctorate and PhD interchangeably, but there are differences between them.

All PhD programs are doctorates, but not all doctorates are PhDs.

Getting Your Fully Funded PhD Online

Earning a fully funded PhD online can open doors to new career opportunities that are professionally and personally rewarding, all without draining your financial resources.

This type of PhD may cover your tuition, fees, and expenses, allowing you to graduate with very little debt. Because they offer low-cost or no-cost degrees, universities with fully funded PhDs tend to enroll a small number of students with proven skills and experience in the field.

Once you decide that you want to earn a fully funded degree, you can begin by researching accredited universities that offer free PhD programs online.

The Best Free PhD Programs 2024. Fully funded PhD programs (Online PhD)

Navigating the complexities of PhD programs, one term often dominates the discourse – “fully funded”.

It represents a golden opportunity wherein all tuition fees and living expenses are covered by the educational institution, allowing students to focus on their research and studies free from financial constraints.

In this blog post, we explore what fully funded really means, share the my personal journey of pursuing a PhD in Australia, delve into the policies of various countries offering free or nearly free PhD programs, and provide key tips for securing a fully funded PhD opportunity.

Whether you’re considering a domestic program or an international adventure, the insights and tips offered here could pave the way to an invaluable, financially stress-free academic journey.

Fully funded online PhD and doctoral programs in the US

Here are some examples of PhD programs in the states that have been free and fully funded through scholarships and other grants that you may be able to apply for:

Online and On-Campus Doctoral Degrees

• Applicants to the Ph.D. in English program at UCLA are automatically considered for various funding options. A six-year funding package includes “a minimum of two years of full fellowship, four years of summer stipend support, and up to four years of teaching assistantships.” Beyond tuition, fees and health insurance are also covered.

Connecticut

• At Yale University, the School of Nursing offers full funding to its Ph.D. students. They receive a monthly stipend for four years in addition to paid tuition and health care.

District of Columbia

• Georgetown University offers scholarships and assistantships that cover full tuition and include a stipend and health insurance for the first five years to students in its PhD program in computer science.
• Students enrolled in the economics Ph.D. program at Emory University typically receive full funding. The stipend provided to students is $36,376 per year for five years, starting in fall 2023, and the full tuition scholarship is worth $70,200 per year. Funding for admitted students also includes a $4,370 annual subsidy that covers 100% of a student’s cost of health insurance. First-year students have no stipend-related work requirements.
• The University of Chicago provides funding for up to eight years of study for its anthropology PhD students. This includes a full-tuition scholarship, health insurance, and a living stipend of $33,000 for the 2022-2023 academic year. Students are also eligible to apply for external fellowships.
• University of Notre Dame doctoral students are guaranteed five years of funding, ensuring that their doctorate program is supported financially. Funding includes a full scholarship, including tuition and fees, plus a stipend and health insurance, making it similar to free tuition.
• The Tippie College of Business at the University of Iowa provides full funding to “virtually all admitted students.” This includes tuition and fees, a minimum nine-month stipend of about $20,000 with annual adjustments, and 90% coverage of comprehensive health insurance. Additional funding is also provided for research presentations at major conferences, summer fellowships, and paid time off for independent research.
• At the University of Maryland’s Harriet Tubman Department of Women, Gender and Sexuality Studies, Ph.D. students without a master’s degree usually have five years of guaranteed funding. Those with a master’s degree usually are funded four years, with awards stemming from a mix of departmental fellowships and graduate teaching assistantships.

Massachusetts

• The T.H. Chan School of Public Health at Harvard University offers a PhD in biological sciences in public health, providing expertise in disease prevention and treatment. This program includes tuition, a stipend, and health insurance for five years, assuming students maintain satisfactory academic progress. Current research involves diseases such as AIDS, cancer, diabetes, kidney disease, malaria, and tuberculosis.
• Students enrolled at the Sloan School of Management at MIT have the opportunity to study various fields, such as organization studies, accounting, and information technology. They receive a full-tuition scholarship, a monthly stipend of $4,267, medical insurance, new laptops at the start of their first and fourth years of study, and $4,500 over five years for conference travel expenses.
• Doctoral students studying English at Boston University receive a stipend plus full tuition, fees, and basic health insurance. This funding is guaranteed for at least five years, with two of those years typically free from teaching requirements. Funding can sometimes be extended up to seven years, but it’s not guaranteed. Students may also apply for various prizes, fellowships, and short-term research and travel grants.
• Doctoral students in engineering at the University of Michigan—Ann Arbor are guaranteed full funding, a monthly living stipend, and health insurance. The exact amount can vary and funding comes from a range of sources, including graduate student instructor positions and fellowships.
• Students admitted to the Ph.D. program to study psychology at the University of Minnesota—Twin Cities are guaranteed full funding for five years as long as they maintain satisfactory performance and degree progress. This funding includes full-time tuition, a nine-month stipend, and subsidized health insurance.
• PhD students in computer science or computer engineering at Washington University in St. Louis receive full tuition support, health insurance, a generous stipend for living expenses, and a new high-end Apple laptop computer. This support is guaranteed as long as students continue to make satisfactory progress towards their degree.
• Full-time NYU Steinhardt Ph.D. students are eligible for a funding package that includes an annual stipend – $32,000 for the 2022-2023 academic year – tuition coverage for required coursework and student health insurance for five years.
• All students admitted to the interdisciplinary management Ph.D. program at the Binghamton University—SUNY School of Management in New York receive a combination of a full-tuition scholarship and a teaching or research assistantship for each academic year, up to four years.
• Cornell University offers full funding to all students admitted to its PhD program in chemical engineering. This funding can come from a teaching assistantship, research assistantship, or fellowship, and full stipends are granted for nine months, with the likelihood of additional aid in the summer.
• Columbia University provides fully funded tuition and a $25,000 annual stipend for three years to students enrolled in its PhD program in clinical psychology. This stipend also carries into the student’s fourth year, during which they may be expected to serve as a graduate teaching or research assistant.

North Carolina

• Doctoral students at Duke University studying materials science and engineering generally receive full tuition, a stipend, and fee support for the first five years. Students also receive up to six years of health insurance if they are on the university’s student medical insurance plan.

Pennsylvania

• The University of Pennsylvania Graduate School of Education provides full funding to Ph.D. students as part of a fellowship and research apprenticeship package. This funding includes a living stipend, health insurance and coverage of tuition and fees for up to four years if the student maintains full-time enrollment. Some students may also qualify for additional summer funding.
• Students admitted to Bryn Mawr College’s Ph.D. program in social work receive full tuition waivers and “substantial stipends” toward living expenses.
• University of Notre Dame doctoral students are guaranteed five years of funding. Funding includes a full scholarship, including tuition and fees, plus a stipend and health insurance.

Rhode Island

• Brown University guarantees full financial support for five years to its PhD students in computer science. This includes tuition remission, a stipend, health services fees, and a subsidy for health insurance.
• Funding is guaranteed for all admitted doctoral students enrolled in the special education Ph.D. program at Vanderbilt University. This includes full tuition, a “competitive” monthly stipend, and health insurance for up to four years.
• Rice University offers full financial assistance to students admitted to the PhD program at the Jones Graduate School of Business. This includes a research or teaching assistantship, a tuition waiver, and a $40,000 annual stipend, contingent upon maintaining satisfactory academic progress and full-time student status.
• All students admitted to the University of Virginia’s Ph.D. in Nursing program are eligible for four years of scholarship funding to cover tuition, insurance, and fees, as well as annual stipends. To receive certain aid, students must work 10 hours per week as a graduate teaching assistant.

Washington D.C.

• American University offers doctoral students in its international relations program who do not have external funding a renewable four-year Dean’s Fellowship that is contingent on making satisfactory academic progress. The fellowship includes the cost of tuition, fees, and a stipend that must be earned via a part-time role as a teaching or research assistant.
• The University of Wisconsin—Madison guarantees full funding for the duration of the time doctoral students are expected to be on campus. This funding may come from financial aid, fellowships, assistantships, and/or traineeships. In addition, doctoral students receive a benefits package that includes health insurance.

Can you get a fully funded PhD program online – the truth about doctoral programs!

It is very uncommon to find a fully free online PhD program – Universities are businesses and want you to pay money to get their qualifications.  Also, it is very common for PhD students to get paid via stipends throughout their PhD.

However, there are countries that offer scholarships and fee-waived places in their doctoral programs – check that out below!

Typically, Ph.D. programs require tuition unless otherwise stated or funded by scholarships, grants, or assistantships.

In general, online Ph.D. programs require tuition payments, but financial aid options such as scholarships, grants, and assistantships can reduce or cover costs for eligible students, making these online phd studies more accessible.

Always check the specific program details for financial aid opportunities.

What Does Fully Funded Mean In a Doctorate Program?

The concept of a “fully funded” PhD program signifies that the entirety of expenses related to the doctoral program is covered. This includes tuition fees, which are either waived or entirely paid for by the educational institution.

Beyond tuition, the program also encompasses a living stipend or allowance given to doctoral students. 

Fully funded PhD programs essentially function as a comprehensive scholarship, covering everything from tuition fees to books and other necessary supplies.

While the stipend amount can vary based on the institution, it is generally sufficient to cater to the basic living expenses of the students, covering rent, food, and transportation costs.

The main aim of providing this stipend to doctoral students is to facilitate a learning environment where they can focus entirely on their studies, research, and dissertation, without the distraction of financial pressures. 

Universities, including public ones, offer these fee-waived doctoral programs with the intention to draw in the best students.

These students, in turn, are expected to contribute significantly to the advancement of research in their respective fields and derive a high-quality education from their doctorates.

It is important to note that eligibility for these scholarships or stipends requires proof of commitment to the doctoral degree. In my experience, this meant securing a top-class master’s degree. This reassured the university of my dedication to pursuing a PhD and furthering my education.

In recent years, there has been a rise in such fully funded programs online , offering a wider reach for prospective PhDs.

As we move further into 2023, students may increasingly opt for these online PhD programmes, making the pursuit of doctoral degrees more accessible than ever.

Countries with a free PhD / fully funded PhD – How much does a PhD cost in other countries?

Sometimes doing a free PhD means going abroad and doing your PhD in another country.

Personally, I travelled to Australia to do my PhD for the adventure and lifestyle. I was able to get a fee-waived placement and international student fee waiver for three years to finish my degree.

Here’s a summary of some of the best countries you could do you PhD in if you want to do it for free.

In the Czech Republic , public universities host a multitude of English-language PhD programs and these programs are free for all PhD students, irrespective of their nationality. However, additional costs may be incurred by international students which might include language courses, health insurance, or student services fees, depending on the university policies.

Sweden maintains a unique policy that not only eradicates PhD fees at public universities but also provides study grants to some PhD students, which serves as a financial aid for their living expenses during the tenure of their studies.

In Germany , public universities offer feeless PhD programs to all students, which can include free PhD programs online. However, a nominal administration fee, approximately €300 per semester, is required. This fee usually covers student services and perks like public transportation and access to university facilities.

Austria ‘s policy benefits PhD students from within the EU and EEA who complete their doctorates within a stipulated time frame, offering free education at public research universities. International students, on the other hand, have to pay fees, which, nonetheless, are capped by the Austrian government to maintain affordability.

Norway , like its Nordic counterparts, offers free PhD education at public universities to all students, regardless of their origin. But a small semester fee, usually covering student services, is obligatory.

Denmark also practices a policy of free PhD education for EU, EEA, and Swiss students at public universities, but international students are required to pay fees, which are generally on the higher side compared to other European countries.

Finland doesn’t discriminate in terms of nationality and offers free PhD studies at public universities. However, international students are charged for their Masters programs.

Saudi Arabia stands out with its unique policy where all PhD students are awarded scholarships that automatically cover their education fees, as well as help them with living expenses.

In the Netherlands , PhD study isn’t universally free, but many institutions extend the offer of free PhD study to international postgraduates. Some universities consider the PhD students as university employees, offering them a waiver on fees and potentially a salary or benefits.

Switzerland , although not offering free PhD studies, keeps its fees low at around CHF 1500 per year at public universities. State-funded PhD positions are also available to EU, EEA, and Swiss students that come with no fees and a maintenance grant.

Top tips for finding a PhD for free – online and on-campus

Here are the top tips I would give you when Choosing a free PhD.

• Apply to STEM programs: Many PhD (and Master’s) programs, especially in the STEM (Science, Technology, Engineering & Math) fields, are fully funded in the US. Most state schools and Ivy League schools have fully funded programs for these fields.
• Prepare for stiff competition: Because these programs are fully funded, the competition is high. It’s not uncommon for hundreds or even thousands of students to apply to these programs each year, with only a small fraction being accepted.
• Consider assistantships: Fully-funded programs usually provide a stipend in the form of Graduate Teaching Assistant (GTA) or Graduate Research Assistant (GRA) positions. These roles involve either teaching or conducting research under a professor’s supervision.
• Be ready for some costs: Despite tuition being covered, you may still need to cover some school fees, student insurance, and other miscellaneous expenditures.
• Don’t consider unfunded programs: Many graduate programs do not fund students, but experts advise against attending these schools. The availability of funding indicates the health of the department in terms of research money and growth.
• Work on your application: The application process generally starts around September to December for many accredited online doctorate degrees. Standardized tests such as GRE and TOEFL/IELTS are required, along with transcripts, recommendation letters, and a statement of purpose.
• Avoid programs that require you to pay: It’s a common sentiment among experts that if you’re paying to be a PhD student, there might be something wrong with the program.
• Apply for fellowships: There are graduate fellowships available for international students that cover tuition and offer a monthly stipend.

Wrapping up – Free doctoral degree program and online doctoral program – Get a PhD

This comprehensive article delves into everything you need to know about free PhD programs, also known as fully funded PhD programs, including the essential details, benefits, and potential challenges that students may encounter.

The term “free PhD” generally refers to a fully funded program that covers tuition fees and provides a stipend for living expenses, allowing students to complete their PhD studies without financial burden.

It is crucial to understand why you should never enter a PhD program without proper funding. Hence, pursuing a free or fully funded PhD should be a priority for all PhD students, regardless of nationality or field of study.

These programs may be offered both online and on-campus by various top universities around the world.

Fully funded PhD programs cater to both international and local students, including those pursuing a traditional PhD, online doctorate, or an accelerated executive doctorate of education.

For instance, fully funded online PhD programs in fields like business administration, education policy, and social work in clinical practice are available for students who hold master’s or bachelor’s degrees.

The duration of these programs may range from 1 year for fast-track or shortest doctoral programs to several years for other disciplines, including online phd studies. Moreover, many programs focus on specialization in subjects like higher education policy, laboratory research, and much more.

One of the perks of these programs is that many institutions provide a stipend to cover living expenses during the course of study, ensuring that students can focus entirely on their research without worrying about financial constraints.

Dr Andrew Stapleton has a Masters and PhD in Chemistry from the UK and Australia. He has many years of research experience and has worked as a Postdoctoral Fellow and Associate at a number of Universities. Although having secured funding for his own research, he left academia to help others with his YouTube channel all about the inner workings of academia and how to make it work for you.

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