Vocational Training And Success

There’s a new financial crisis brewing. Student loan debt has reached an all-time high of $1.4 trillion, and the average college graduate now leaves a four year program with a degree and more than $30,000 in student loan debt. This is causing a squeeze on the entire middle class by creating a barrier to entry for college grads to achieve middle class standing, often for more than a decade after they graduate. Some are responding by moving back home with their parents to save on money, putting off buying houses while the cost of real estate continues to soar out of their reach. Others are working multiple jobs, putting off marriage and kids until they can get their debt under control. If this doesn’t sound like success, you aren’t alone. Many are turning toward vocational training to create their own version of success with less debt and almost equal earnings after the first decade.

Tuition for the average trade school program costs just over a quarter that of college tuition, and graduates of vocational programs tend to graduate with a third the debt. Even though wages for the average vocational graduate are considerably less to start than those of college graduates, 1) vocational grads have significantly less debt to pay off, which is more than a break-even over the first decade, and 2) as Baby Boomers retire, it’s likely that gap will close anyway, leaving vocational grads in a much better position than college grads.

Learn more about redefining success with vocational training below!