Dollars and Degrees: How Much Does a Doctorate Cost?

For many, obtaining a doctorate can come with a hefty price tag. The cost of a doctoral degree can vary depending on the field of study, the institution, and whether the student is attending full-time or part-time.

In this article, we'll talk about some of the factors that contribute to the cost of a doctorate and provide an estimate of how much it may cost.

What's the Average Cost of a Doctoral Degree?

Pursuing a doctorate is a financial commitment and an investment in knowledge and faith. According to the Education Data Initiative, the cost of a doctorate depends on the institution and the state it's in, the field of study (type of degree), the length of the program, and whether or not financial assistance is available.

However, the average cost of a Ph.D. is estimated to be around $106,860.

At DBU, we are committed to providing affordable excellence. The average cost of our doctoral programs reflects our dedication to making transformative education accessible.

Please visit the Cashier’s Cost of Attendance webpage for the latest Cost of Attendance rates.

Travel and additional expenses can also add to the overall cost of obtaining a doctoral degree.

Is a Doctorate Different From a Ph.D.?

A "Ph.D." or Doctor of Philosophy is a specific type of doctoral degree. The term "doctorate" is a broader term encompassing various types of postgraduate degrees, such as Doctor of Education, Doctor of Business Administration, and Doctor of Medicine.

In other words, a Ph.D. is a type of doctoral degree, but not all doctorates are Ph.D.s. For example, a Doctor of Education (Ed.D.) is a degree focused on education, while a Doctor of Business Administration (D.B.A.) is focused on business.

How Long Does a Ph.D. Take to Complete?

On average, it takes approximately four to eight years to complete a Ph.D. program. The length of time it takes to complete a Ph.D. program can vary depending on several factors, including:

• Field of study: Some fields, such as the humanities and social sciences, tend to have longer Ph.D. programs than others, such as engineering and business.
• Individual circumstances: Some students may be able to complete their Ph.D. program more quickly than others due to their prior academic experience, research experience, and time commitment.
• Program requirements: Different Ph.D. programs may have different requirements for coursework, research, and teaching assistantships, which can affect the overall length of the program.
• Funding availability: Students who receive funding or financial assistance may be able to dedicate more time to their studies and complete their Ph.D. program more quickly.

Tips for Financing Your Doctorate Degree

If pursuing a doctorate seems out of reach financially, don't give up hope. Start by getting in touch with DBU’s Financial Aid Office. Below are several ideas to help you finance your doctoral degree:

• Research and apply for scholarships and grants specifically designed for doctoral students. Check out databases like Fastweb for comprehensive lists. Additionally, specific to Christian higher education, the Fund for Theological Education offers fellowships for those pursuing advanced theological studies.
• Look for funding opportunities from organizations, foundations, and government agencies related to your field. For example, the Baptist General Convention of Texas (BGCT) offers scholarships to part- and full-time students enrolled in a master’s or doctoral degree program leading to the practice of ministry in a vocational church-related setting. National Science Foundation provides funding for various STEM disciplines, while the Social Science Research Council supports social science research.
• Consider taking on part-time work or freelance opportunities. Platforms like Upwork and Freelancer offer various freelance opportunities. Additionally, while DBU does not do so, other universities often have research or teaching assistant positions that allow you to contribute to your field while earning income.
• Seek out employer tuition reimbursement programs. Many companies encourage employees to pursue advanced degrees by providing financial assistance.

The Bottom Line

Pursuing a doctorate is an investment in your future. With thoughtful planning and strategic exploration, you can overcome these financial hurdles. Your investment today isn't just in education; it's a seed planted for a future harvest — harvests of academic triumphs and spiritual growth.

As you navigate this path, remember the comforting words of Philippians 4:19 (ESV): "And my God will supply every need of yours according to his riches in glory in Christ Jesus."