Attending a university straight out of high school isn't the right fit for everyone, and that is completely okay. With the rising cost of tuition and the massive time commitment involved, it makes sense to look for avenues outside of a traditional four-year college. Whether you want to avoid a hefty price tag or simply want to start your life sooner, there are plenty of ways to get the skills you need to succeed without falling behind financially.
Finding the right alternative for your goals
No matter which route you decide to embark upon, it is essential to ensure it resonates with your aspirations and interests. We recommend taking the time to consider various options beyond just traditional college pathways. This comprehensive exploration will empower you to make a well-informed choice that truly suits your needs.
Do your homework
Once you've identified a handful of potential paths, dedicate yourself to conducting thorough research. This step guarantees you're selecting the most appropriate journey for your objectives. You should engage with professionals who are actively engaged in the field, dive deep into relevant resources, and don't hesitate to seek insights from individuals experienced in each type of program.
Make an empowered decision
Ultimately, the pursuit of education is deeply personal. Conducting diligent research empowers you to make informed decisions about your educational journey. Your chosen path should reflect your aspirations and be tailored to your individual goals.
1. Vocational school
Vocational schools, also known as career colleges, technical schools, or trade schools, provide students with the skills and training they need to enter a specific field. From plumbing to carpentry, there are plenty of options for learning a valuable trade without going to college.
These schools are generally cheaper than a traditional four-year institution. According to national education data, trade schools in the US average a net cost of about $17,000 a year. In addition to the lower price tag, they have shorter program durations and offer more specialized courses.
2. Apprenticeship
If you don't have the time or money to attend a vocational school, on-the-job training could be a great way to learn new skills. An apprenticeship is a great way to learn valuable skills while getting paid. You'll work alongside experienced professionals, allowing you to observe and learn from them directly.
Depending on your chosen field, apprenticeships typically last between one and four years. The most popular industries for apprenticeships include construction, engineering, and energy, but there are a wide variety of available apprenticeships in many trades.
3. Certificate programs
Most community colleges and trade schools offer certificate-based programs that can be completed in a few months or even weeks. These are excellent for "micro-learning."
Stacking your credentials
Adult learners should consider "stackable credentials." This involves completing multiple short-term certificate or associate degree programs that build on each other. This approach can assist students in transitioning to and progressing in their careers, all while striving for a more advanced credential or degree.
Costs and aid
There are tons of certificate programs to choose from these days, with tuition rates ranging from less than $1,000 to $6,000 per course. While Pell Grants may not be available for programs shorter than 15 weeks, students can explore private or institution-based scholarships or financial aid for high-demand industries like health care, construction, IT, and manufacturing.
4. Gap year
Taking a gap year between high school and college is an opportunity to explore different interests, travel, volunteer, or take on internships. This gives you time to think about what direction you want to go in before committing to something you may not be ready for.
Making it meaningful
How you decide to spend your gap year is entirely up to you. Still, most people tend to choose immersive experiences in one or multiple foreign countries to develop language skills, learn new cultures, and explore different career possibilities. No matter what you choose, it is important to make sure your experience is meaningful and serves your future interests.
If you need help planning, resources are available through nonprofits like Gap Year Association (GYA) and Outward Bound.
5. Coding boot camp
A coding boot camp offers a convenient and focused approach for students seeking to cultivate a particular skill set in a short period of time. This program is great for aspiring computer programmers or front-end developers.
Best of all, you don't need to attend a fancy university to get your training. You can check for coding boot camps at your local community college. If available, they may be able to help you land a job faster than the traditional four-year route.
The data on boot camps
According to Course Report, more than 600 coding boot camps exist globally, both online and in-person. The quality of programs varies, so make sure to conduct thorough research. Here is what the data says:
- Duration: They typically span from six to 28 weeks, with the average duration being 14 weeks.
- Salary: Course Report states a starting salary of $69,000 for boot camp graduates.
- Cost: Annual costs average around $14,000.
It is important to note that these programs are usually not eligible for federal financial aid, which can create a price barrier for some students.
The Facet difference
At Facet, we believe that your financial life is about more than just investment returns; it's about using your money to support the life you want to live. Whether you choose a trade school, a gap year, or a boot camp, your financial roadmap should reflect your personal values.
Because we operate on a flat membership fee rather than a percentage of your assets, we can provide objective advice on these early-career decisions that isn't influenced by asset-based fee conflicts. A CFP® professional can help you navigate tuition costs, salary negotiations, and budgeting for your new career, ensuring you feel confident in every step of your journey.
