If you have a child of college age, you may have real concerns for their financial future. In the United States, young students and cosigning parents are racking up exorbitant amounts of student debt. Statistics reflect the totals of student loans at $1.73 trillion.
On average, a bachelor’s degree from a public university comes to an estimated $30,000 in loans. This is a hefty price tag for someone coming right out of school. Salaries do not match up to pay the monthly dues, particularly when adding on the interest rates.
How can a student get an education that provides a salary to help them live comfortably but not break the bank?
The last piece of advice I would give them is to skip going to school altogether.
Having an education offers a wider number of opportunities that may not be available without preparation. It is not an easy feat, but a few careers can give you both advantages.
Education does not have to cost a fortune or require many years of enrollment to make decent pay. Healthcare certifications as a technician, for example, can provide a good source of income. Surgical, Radiology, and Cardiovascular techs can make salaries over 40K per year depending on location and experience.
If you do not favor the medical environment, you will find that certifications as a Hearing Aid Specialist, Court Reporter, Digital Marketing Specialist, Cybersecurity (CISSP certification), and Web Developers are also in the running for professions that won’t leave you in financial ruin.
Certifications come at a price of hundreds to thousands but generally significantly less than a 4-year college education. An investment of $20,000 is more feasible than the sticker shocker of attending school full-time. Of course, these programs require passing an exam which must be passed to get certified. Usually, a set of intense weeks or months to master the material then demonstrate your knowledge of it.
A university degree can offer credibility in society. Having the piece of paper confirms to the world that “you did it!” Countless students will share their sense of accomplishment once they complete their journey. Although a certification program may not offer the same experience, it is much shorter and doesn’t necessarily carry the same punch in the eyes of others.
However, in the end, you have to do what is in your comfort zone and makes sense for you.
If you are looking for a solid career that allows you to live comfortably minus the huge loan payments at the end of it, then one of these programs may be for you. However, if you are in love with the idea of college life and have your heart set on the occupation you were born to do, go for it! Understand whatever choice you make, compromises will have to be considered in order to fulfill your goals.