5 Alternatives to Pursuing a Bachelor’s Degree

By HUGH NORTON
Special to the Sun Advocate
I went to college after high school, and it proved to be a good investment. However, I also realize that the college path isn’t necessarily the right fit for everyone, nor is it something to be embarked upon lightly and without planning. A college degree isn’t a requirement for every skilled job and for some, the time and money it takes to earn a bachelor’s degree could be better spent elsewhere.
Here are five alternatives to the bachelor’s degree route that, if they are the right fit for you, could cost less now and set you up for a good career later.
1. Learn a trade from a career school. If you’re already interested in a particular type of skilled work, you could look into programs at a trade, vocational or career school. There are many focuses within different industries to choose from, including healthcare, technology, the culinary arts, HVAC and business.
Career school training often lasts two years and could be expensive. Just like with the traditional college and university system, federal financial aid may be available to help you pay for the education. You may also be able to start working sooner than you would if you pursued a degree from a four-year bachelor’s program.
As with traditional four-year programs, not all schools are reputable. Before deciding, be sure to research schools, the training programs they offer, their record with respect to job placements for graduates and the fees they charge.
2. Apply for an apprenticeship. Rather than paying for and attending school, you could apply for an apprenticeship. As an apprentice, a company will employ and pay you while you receive on-the-job training and classroom instruction. According to the Department of Labor (DOL), the average starting wage is $15 an hour, although it can increase as you gain experience.
Apprenticeships are currently available in a wide range of industries, including construction, energy, manufacturing, healthcare, IT, hospitality and telecommunications. The training can last one to six years depending on the occupation and program. Once you complete your apprenticeship, you will receive a nationally recognized credential that could be used to continue your career.
The average annual income for someone who completes a program is $50,000, and those who go through an apprenticeship earn about $300,000 more than non-apprenticeship workers overall, according to the Labor Department.
3. Join the armed forces.
If you are interested in serving as a member of the military, there may be several paths to consider. You could join the military with the intent of continuing your career there or you can use the military as a starting point. The skills and experience learned as a member of the armed forces could help you get a civilian job after you finish your service.
Depending on your skills and experience, you could be eligible for a sign-on bonus when you enlist. Once you’ve joined, you may also receive on-base housing as part of your compensation package or could be offered a housing allowance if you’d prefer to live off-base. Additionally, you could receive financial assistance towards your education if you decide you want to go back to school after your service.
4. Become a police officer or firefighter. If it appeals to you, look into a career of local public service by joining the police or fire department. Depending on where you live, the process can be competitive and difficult. Getting started in either profession can require rigorous physical training, written tests and in-person interviews. You’ll also need to meet the minimum requirements, which could include some college experience and a clean criminal record.
Police officers and firefighters have very different jobs, and there’s a lot to consider before entering either profession.
5. Get an associate’s degree. An associate’s degree from a community college could be a good middle-ground option if you want to continue your education without committing to a four-year school.
Full-time students can earn an associate’s degree within two years, or you could work and study part-time and earn the degree at your own pace. You may still be eligible for federal financial aid, and community colleges are often much less expensive than other colleges or universities. The College Board found the average annual community college tuition and fees were $3,570 for the 2017-2018 school year, about 65 percent less than what you might pay at a four-year in-state public school ($9,970).3
An associate’s degree could pay off for years to come, though. U.S. Bureau of Labor Statistics data shows that for those over 24 years old, unemployment rates are lower and median weekly earnings are higher for associate’s degree holders than those who have only a high school diploma or some college but no degree.
Bottom Line: Pursuing a bachelor’s degree isn’t the right path for everyone, nor is it a requirement to have a prosperous or happy life. In the end, you may choose to pursue a bachelor’s degree and then perhaps a graduate degree. However, you may first wish to consider the additional options available to you and even try out a few to discover which one suits you best.
Hugh Norton directs Visa’s financial education programs. To follow Practical Money Skills on Twitter: www.twitter.com/PracticalMoney.
This article is intended to provide general information and should not be considered health, legal, tax or financial advice. It’s always a good idea to consult a tax or financial advisor for specific information on how certain laws apply to your situation and about your individual financial situation.