Why Should You Re-Think Getting a Degree?

The traditional path for many students is to graduate high school and start college the following Fall season to work towards earning a degree. While this is still common and is often the right choice for many students, some are finding that having other options may be a better alternative for higher education. There are many benefits, career-wise and financially, to earning a college degree. However, there are some drawbacks. 

Students don’t want to start collecting or increasing debt 

Did you know that an estimated 85% of college students need financial aid to attend college? The average debt for a college student as of 2023 is over $36,000. Depending on the college, the program, and whether the student is in or out of state, tuition rates can vary from roughly $9,000- $70,000 per year. Although students can apply for scholarships and financial assistance that would need to be repaid, reports show that over 43 million Americans have student loan debt. 

Degree programs can take years to complete 

Degree duration can depend on the program or major, however, typically associate degrees are 2- years long, bachelor’s degrees are 4 years long, and master’s degree programs can be between 1-2 years long. However, recent studies suggest that bachelor's degrees can now take up to 6 years to complete. This is likely due to rising tuition costs, students working during their education, or taking courses that don’t meet the requirements of their program. Although everyone’s schedule is different, and some colleges do now offer accelerated program options, financial hardships could increase the duration. 

Students may want a career change after spending thousands on one subject 

Making essential decisions right after high school that could influence our future career and financial situation is risky. Although students can enroll in college as undecided majors, they will soon need to select a program so they do not start paying for courses that will not help them to graduate. Investing so much time and money in a major that may not be beneficial long-term can land them in a career they are unhappy with and in thousands of dollars in debt. 

There are new and effective options available

Fortunately, as the education system advances, new options in higher education are available and can still help students start a successful career. Many are now considering alternatives such as online boot camps or micro-credential programs which can be completed in only weeks or months, and students often don’t need any financial assistance. These program options are flexible and offer certificates upon completion. They still are great to put on a resume and it’s an easier way to explore which career is right for the student. 

Where can you find out more details?

Higher education and career service companies such as Focus EduSolutions, offer a wide variety of online program options to fit any schedule and to match the growing industries. Check out more details today: https://focusedusolutions.com/

References

Bareham, H., & Wing, C. (2023, January 4). FAFSA statistics 2023: What is the average financial aid for college? Bank Rate. Retrieved October 11, 2023, from https://www.bankrate.com/loans/student-loans/fafsa-statistics/#stats

Welding, L., & Johnson, R. (2023, October 6). Average Student Loan Debt: 2023 Statistics. Best Colleges. Retrieved October 11, 2023, from https://www.bestcolleges.com/research/average-student-loan-debt/#:~:text=Data%20Summary,was%20just%20over%20%241.63%20trillion.

Hanson, M. (2023, September 6). Average Cost of College & Tuition. Education Data Initiative. Retrieved October 11, 2023, from https://educationdata.org/average-cost-of-college

Appleby, C., & Welding, L. (2023, February 28). How Many People Have Student Loan Debt? Best Colleges. Retrieved October 11, 2023, from https://www.bestcolleges.com/research/how-many-people-have-student-loans/

(2023, June 15). How Long Does It Take to Get a bachelor’s degree? Coursera. Retrieved October 11, 2023, from https://www.coursera.org/articles/how-long-does-it-take-to-get-a-bachelors-degree