Master’s in Accounting: Cost and Financing Options

A Master of Accounting can be a strategic investment in your career, but it requires a clear understanding of what that investment requires. If you’ve already given thought to the time, energy, and resource expenditure, you may now be wondering about the cost.

The cost of master’s in accounting programs can vary widely and go beyond what the cost-per-credit calculation tells you. Fortunately, graduate education is often more financially accessible than it first appears. With thoughtful planning, a strong sense of your career goals and research into all potential aid avenues, you can evaluate a Master of Accounting with confidence.

Keep reading for a closer look at a master’s in accounting cost, financing options and the long-term value of choosing the right program for you.

Understanding the Total Cost of a Master’s in Accounting

When aspiring graduate students ask about a master’s in accounting tuition, they are asking a narrower question than needed for budgeting purposes. Tuition only accounts for the cost per credit hour, multiplied by the number of credits required to complete the degree.

Alternatively, the total cost of attendance is broader: It often includes university fees, textbooks, technology or technology fees, software, exam prep, transportation and any in-person or residency-related expenses.

Program format also influences these costs. An online master’s may reduce expenses associated with in-person instruction, such as commuting or the cost of pausing full-time employment. In addition to what was already listed, on-campus programs may also involve paying for housing, parking and other costs associated with greater schedule disruption.

Institution type, faculty access, curriculum structure, program reputation and faculty expertise can also affect the final price. For example, an Ivy League, in-person, synchronous graduate education will cost more than a prestigious, online, private university.

However, it’s important to keep in mind that the least expensive program is not always the best value, and the most expensive program is not automatically the strongest choice. Instead, give careful thought to both price and purpose: what you will pay, what the program provides and how well it will support your professional goals.

Is the Master’s in Accounting Tuition Worth the Investment?

The strongest way to evaluate the master’s in accounting cost is to connect the expense to your career strategy. For many students, the degree is more than adding a credential. It offers a structured path toward more advanced accounting roles.

Additionally, a graduate degree gives students stronger technical expertise and CPA exam eligibility and preparation. The Master’s in Accounting can also help students from adjacent academic or professional backgrounds move more confidently into accounting-focused roles.

According to the U.S. Bureau of Labor Statistics, the median salary for accountants and auditors was $81,680 in 2024, with the highest 10% of earners making more than $141,420.¹ While no degree can guarantee a specific salary, a master’s can help bridge the gap between the median wage and the highest earners. There are also multiple pathways for advancement that a Master’s in Accounting can prepare you for, including public accounting, corporate accounting, consulting, leadership roles, and more.

The return on investment may also include benefits that are harder to quantify in terms of salary and costs. A rigorous Master of Accounting program can help you close knowledge gaps, build fluency in complex reporting environments, prepare for licensure, and develop a strong professional network. While CPA education requirements vary by state, many require 150 semester hours of accounting and business coursework.² For students with a CPA in mind, a graduate accounting program is a focused and efficient pathway to achieving that goal.

How Much is a Master’s in Accounting? A Breakdown of Expenses

How much is a Master’s in Accounting? The answer depends on the institution and your individual academic background, with the cost ranging from $44,640 to $71,140, with the average cost being $62,820.³

For example, if you begin your graduate education with prerequisite coursework already under your belt, you’ll end up at the lower end of that range. Conversely, students who need additional accounting or business courses before moving on to the core graduate curriculum will end up with a higher total tuition cost.

However, these aren’t the only costs to consider. A more practical way to estimate your budget is to separate direct educational costs from indirect expenses.

Direct Educational Costs

The primary direct cost for a Master’s in Accounting is tuition, required university fees, and program-specific charges. In the William & Mary Online Master of Accounting, the current core tuition rate of $1,148 per credit hour across 32 credits equals $36,736 before additional fees. Students who need prerequisite coursework should budget for those courses accordingly.

Online programs may also include technology fees, graduation fees, or expenses related to required learning platforms. These line items may be smaller than tuition, but every dollar counts when you are creating a realistic financial plan.

Indirect and Hidden Costs

Indirect costs are easy to overlook, but they can shape your overall budget. These often include textbooks, accounting software, and CPA exam preparation materials. For some, they may also include workspace upgrades, reliable internet, and reduced salary or other opportunity costs if you need to adjust your work schedule while enrolled in school.

Other CPA-related costs can be part of the broader investment, as well. Exam fees vary by state, but candidates are usually required to pay application, registration, and exam section fees. For example, in Virginia, the CPA section fee is currently listed at $265.57 per section, with a scheduled increase to $268.59 as of July 4, 2026.⁴

These expenses do not need to be discouraging. Instead, they make planning that much more important. A thorough budget helps you compare programs and avoid surprises.

Financial Aid and Funding Strategies for MAcc Students

Federal financial aid is often the first place graduate students begin. Completing the FAFSA can help determine eligibility for federal loans and other aid options.

Graduate students may be eligible for Direct Unsubsidized Loans, though annual and aggregate limits apply. Federal Student Aid currently lists a graduate and professional loan limit of $138,500, including undergraduate borrowing, for Direct Subsidized and Unsubsidized Loans.⁵

Students who need additional support should also explore Graduate PLUS loans, private education loans, payment plans, and school-based aid.

It’s important to note that federal loan policies are changing for future borrowers, so it is important to verify current limits and eligibility with the university’s financial aid office before making borrowing decisions.

Scholarships, grants, and fellowships can reduce the amount you need to borrow. Some awards are offered through universities, while others come from accounting associations, professional organizations, foundations, or community groups. The AICPA Foundation, for example, offers several scholarship and grant opportunities, including CPA exam support for eligible candidates.⁶

Additionally, if you are currently employed, your employer may be one of the most practical funding sources available. Many organizations support graduate education when it aligns with retention, leadership development or specialized business needs.

Lastly, military benefits may also apply to eligible veterans, active-duty service members, and qualifying dependents.

Invest in Your Future With William & Mary’s Online Master of Accounting

The right accounting program can help you move forward with greater confidence, stronger credentials, and a clearer professional path. In William & Mary’s Online Master of Accounting program, students engage with a 32-credit curriculum that supports CPA exam preparation while bolstering accounting expertise. The program also welcomes students from accounting, business and other academic backgrounds, with prerequisite options available for those in need.

As analytics, automation and regulatory complexity continue to change the landscape of the accounting industry, a strong graduate education can help you evolve alongside it.

The cost of master’s in accounting programs is an important consideration, but it is only one part of the story. A well-chosen degree can strengthen your CPA eligibility and readiness, expand your career options, and lay the foundation for a more resilient future in accounting.

Reach out to an admissions advisor today to learn more about admissions requirements and to discuss what William & Mary’s Online Master of Accounting can do for you.