Wal-mart is rolling back prices on a college degree. The world’s biggest retailer recently announced a partnership with American Public University, an online college-degree program, to offer Wal-mart and Sam’s Club workers a more affordable route towards earning an advanced degree. Eligible employees will receive a 15% discount on tuition. The company says it will also invest $50 million over three years in the program to help participating student reduce their education costs.  

The news puts online degrees back in the spotlight. Over the years, there’s been a growing acceptance of online college degrees, especially at a time when people are looking to save on education costs – both by prospective students and corporate employers.

In fact, last year I wrote a story highlighting Nova Southeastern University – which has a physical location with dorm-living students – and how it got the top grade in a survey of best online colleges. The school’s online program is booming, according to the Online Education Database 2009 survey. The school offers about 80 degrees and programs and boasts having online students in almost every state. At Nova Southeastern online tuition and fees for full-time students total roughly $20,000 per year (which sounds pretty hight) but nearlyall students receive financial aid. 

For students looking for a flexible and more affordable degree program, an online education is a fine alternative to a traditional college campus experience. Of course, you won’t get the traditional college experience like living in a dorm, making new friends in class and getting face-to-face time with professors.  But on the plus side, you can create a schedule that works around your life – especially if you are working during the day. And you don’t have to go away to go to college, which means easy savings on room and board – and all that 2am pizza and beer. That’s an easy cost savings of at least $10,000 a year.