Should you go to college? After all, that’s the advice a lot of students get as they prepare to leave high school. Many of us are told that a four-year degree — or even an advanced degree — is the key to a reliable income and a good life.
But not everyone has a good experience with higher education, and not everyone thrives in a traditional four-year college setting.
That doesn’t mean you’re doomed to a life of scrambling for a living, though. You can do great things and make good money without getting a traditional four-year degree.
Should I go to college? What to consider
“Not everyone is designed for the four-year college experience, and that’s OK,” said Mack Smith, a retired instruction technologist and college instructor who has helped develop educational programs and counseled students about their career paths. “There are good jobs available for those who have two-year degrees and technical certifications.”
Smith pointed out that alternatives to college can lead to good, middle-class jobs for millennials. Rather than trying to fit yourself into someone else’s idea of how you should proceed with your life, he suggested thinking about what you want to get out of your education and future career.
As you consider your future, pay attention to these five signs that a conventional four-year college experience might not be the right move for you.
- You’re doing it for someone else
- You’re drawn to other careers
- You want real-world experience
- You’re wary of costs
- Your academics aren’t great
Smith said one of the worst reasons to go to college is because someone else thinks you should. Whether you hope to impress your parents or want to keep up with your friends, it doesn’t make sense to go to college if you just want to make someone else happy.
“One of my sons thought that he was doing what I wanted by starting out at a traditional school,” Smith said. “It was a disaster. He didn’t enjoy it, and none of the programs interested him.”
Once his son realized that he needed to follow his own path, he quit the traditional school and enrolled in a program that offered an associate’s degree and a technical certificate. Today, he loves working in airplane mechanics, making a good living without a four-year degree.
“Take a look at your own strengths and weaknesses and choose a program based on what works for you, not what other people think you should do,” said Smith. “You’re more likely to have long-term success and avoid wasting time and money if you focus on what works for you.”
Traditional liberal arts schools may not offer the career training that you want, Smith noted. He’s watched as, over time, colleges that offered career training and skilled occupations programs shifted focus to more academically-based degrees. That makes it harder for some students to get the career training they need for the jobs they desire.
“Look at the offerings at four-year schools. If you aren’t drawn to the degree programs, consider looking at community colleges and technical schools,” Smith advised. “College might not be for you if nothing in the course catalog inspires you.”
Pay attention to what you love, and look for a program that fits your needs, rather than trying to adapt yourself to a college that doesn’t offer what you want.
“Not everyone wants to jump into college right away,” said Smith. “Maybe you want to get started earning money. Perhaps you want some real-world experience to help you learn more about what you want to study.”
He added that just about any job can help you learn skills you can use later in your career.
Plus, as Smith pointed out, you might be surprised to discover that a traditional college experience doesn’t always prepare you for the “real” world. In fact, a survey conducted on behalf of the National Association of Colleges and Employers found that employers think college grads are underprepared for work.
That doesn’t mean you should abandon all types of training, though. According to Smith, many career and technical programs help you learn on-the-job skills while you go through the program. Plus, he said, it’s possible to sign up for programs that offer apprenticeships and practicums.
“A four-year college emphasizes book learning and knowledge acquisition. While there’s nothing wrong with that, you might be more interested in getting a jump on actually developing skills employers want,” Smith said. “If you want to get some real experience and practice skills that can get you hired, putting off a traditional college education can help you.”
Sometimes, your post-high school education has more to do with affordability than it does other considerations. If the price tag of a four-year college sends you into sticker shock, attending a two-year community college can save you big bucks.
According to The College Board, tuition and fees at a two-year college ($3,730 in 2019-2020) costs roughly a third of what you’d be charged at a four-year, in-state school ($10,440).
If you can’t afford attendance at a four-year college right now, it doesn’t mean you won’t have any options. Start with a cheaper program and work as you go.
“Your earnings now can be used later, if you decide to continue advancing your education,” said Smith.
Maybe you hoped to go to college, but a few poor grades are holding you back.
“I see a number of students who didn’t get serious about school and college until their junior year,” said Smith. “By then, it might be too late for your GPA if you want to attend a traditional four-year school, especially if you hope for a scholarship to reduce the costs.”
Smith pointed out that many career and technical alternatives to college don’t have the same academic requirements.
“Get your certification and start working,” he said. “Later, if you want to go to college as a non-traditional student, your high school GPA won’t matter as much as your work experience.”
Community colleges often offer a way to improve your grades, too. Once your GPA is higher, you can transfer to a four-year school.
“If your high school grades aren’t good enough for a scholarship or to get into the four-year university of your choice, go to community college,” Smith said. “Focus on academics for good grades and then transfer when you have your associate’s degree. You might even get a scholarship later.”
“Should I go to college?” might not be the right question to ask yourself. Instead, ask yourself how you can best develop marketable skills that will help you advance your career.
“Whether you want to work for yourself or get a good job working for someone else, what you really need are in-demand skills,” said Smith. “Think about the most cost-efficient way to develop the skills you need in a career that you will find fulfilling.”
A traditional four-year college might be the answer for you, but for others, that path doesn’t pan out. In that case, alternatives to college can provide better long-term results for your career and your life.
“Be honest about what you want and where you’re at,” suggested Smith. “There are plenty of career programs and technical education programs that can help you accomplish your goals. Don’t get hung up on going to college once you realize that it’s not actually for you.”
Andrew Pentis contributed to this report.
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1 Important Disclosures for College Ave.
College Ave Student Loans products are made available through either Firstrust Bank, member FDIC or M.Y. Safra Bank, FSB, member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply.
Rates shown are for the College Ave Undergraduate Loan product and include autopay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. Variable rates may increase after consummation.
Information advertised valid as of 7/22/2021. Variable interest rates may increase after consummation. Approved interest rate will depend on the creditworthiness of the applicant(s), lowest advertised rates only available to the most creditworthy applicants and require selection of full principal and interest payments with the shortest available loan term.
2 Sallie Mae Disclaimer: Click here for important information. Terms, conditions and limitations apply.
3 Important Disclosures for CommonBond.
Offered terms are subject to change and state law restriction. Loans are offered by CommonBond Lending, LLC (NMLS # 1175900), NMLS Consumer Access. If you are approved for a loan, the interest rate offered will depend on your credit profile, your application, the loan term selected and will be within the ranges of rates shown. If you choose to complete an application, we will conduct a hard credit pull, which may affect your credit score. All Annual Percentage Rates (APRs) displayed assume borrowers enroll in auto pay and account for the 0.25% reduction in interest rate. All variable rates are based on a 1-month LIBOR assumption of 0.15% effective Jan 1, 2021 and may increase after consummation.
4 Important Disclosures for EdvestinU.
EDvestinU is a product of the nonprofit New Hampshire Higher Education Loan Corporation (dba The NHHEAF Network) NMLS ID#1527348.
APR range and repayment rates displayed assume a $10,000 loan disbursed in two equal disbursements. APR low assumes immediate repayment and 7 year repayment. APR high assumes deferred repayment and 15 year repayment. APR’s presented include a .50% interest rate reduction for electing to have payments automatically deducted from a bank account. The interest rate reduction for authorizing our servicer to automatically deduct monthly payments from a savings or checking account will not reduce the monthly payment, but will reduce the monthly finance charge, resulting in a lower total cost of loan. All examples are provided for educational purposes and actual terms may vary based on credit history, loan amount, applicable repayment term, and chosen repayment plan and method. Please note that the interest rate on variable rate programs may increase or decrease over time. The variable rate example assumes the same standard rate for the life of the loan. The NHHEAF Network reserves the right to modify or cancel its program at any time.
Eligibility: Dependent and independent U.S. citizen students. Currently residents of Washington and California are not eligible for EDvestinU programs.
Loan Limits: Minimum loan amount of $1,000.
Repayment: Standard or graduated repayment options available during repayment; 7, 10, or 15 year term selected by the borrower.
Cosigner Release: Cosigner release allowed if an account is in current standing, after 36 months of consecutive & on-time payments with a borrower FICO >749 for EDvestinU Private Student Loans and minimum income requirement of $30,000 with no foreclosures, repossessions, wage garnishments, unpaid tax liens, unpaid judgments or other public records having an open balance exceeding $100 during the last 7 years. The borrower must not currently be involved in bankruptcy proceeding or had any bankruptcy filings during the past 10 years and cannot have any defaults on education loans.
5 Important Disclosures for Earnest.
6 Important Disclosures for Ascent Student Loans.
Ascent Student Loans Disclosures
Ascent loans are funded by Bank of Lake Mills, Member FDIC. Loan products may not be available in certain jurisdictions. Certain restrictions, limitations; and terms and conditions may apply. For Ascent Terms and Conditions please visit: >AscentFunding.com/Ts&Cs;.
Rates are effective as of 07/01/2021 and reflect an automatic payment discount of either 0.25% (for credit-based loans) OR 1.00% (for undergraduate outcomes income-based loans). Automatic Payment Discount is available if the borrower is enrolled in automatic payments from their personal checking account and the amount is successfully withdrawn from the authorized bank account each month. For Ascent rates and repayment examples please visit: >AscentFunding.com/Rates.
1% Cash Back Graduation Reward subject to terms and conditions, please visit AscentFunding.com/Cashback. Cosigned Credit-Based Loan student borrowers must meet certain minimum credit criteria. The minimum score required is subject to change and may depend on the credit score of your cosigner. Lowest APRs are available for the most creditworthy applicants and may require a cosigner.
7 Important Disclosures for Funding U.
Offered terms are subject to change. Loans are made by Funding University which is a for-profit enterprise. Funding University is not affiliated with the school you are attending or any other learning institution. None of the information contained in Funding University’s website constitutes a recommendation, solicitation or offer by Funding University or its affiliates to buy or sell any securities or other financial instruments or other assets or provide any investment advice or service.
8 Important Disclosures for SoFi.
UNDERGRADUATE LOANS: Fixed rates from 4.13% to 10.66% annual percentage rate (“APR”) (with autopay), variable rates from 1.12% to 11.23% APR (with autopay). GRADUATE LOANS: Fixed rates from 4.13% to 10.90% APR (with autopay), variable rates from 1.10% to 11.34% APR (with autopay). MBA AND LAW SCHOOL LOANS: Fixed rates from 4.08% to 10.86% APR (with autopay), variable rates from 1.05% to 11.29% APR (with autopay). PARENT LOANS: Fixed rates from 4.23% to 10.66% APR (with autopay), variable rates from 1.20% to 11.23% APR (with autopay). For variable rate loans, the variable interest rate is derived from the one-month LIBOR rate plus a margin and your APR may increase after origination if the LIBOR increases. Changes in the one-month LIBOR rate may cause your monthly payment to increase or decrease. Interest rates for variable rate loans are capped at 13.95%, unless required to be lower to comply with applicable law. Lowest rates are reserved for the most creditworthy borrowers. If approved for a loan, the interest rate offered will depend on your creditworthiness, the repayment option you select, the term and amount of the loan and other factors, and will be within the ranges of rates listed above. The SoFi 0.25% autopay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. Information current as of 4/1/2021. Enrolling in autopay is not required to receive a loan from SoFi. SoFi Lending Corp., licensed by the Department of Business Oversight under the California Financing Law License No. 6054612. NMLS #1121636 (>www.nmlsconsumeraccess.org).
9 Important Disclosures for Citizens Bank.
Citizens Bank Disclosures
Undergraduate Rate Disclosure: Variable interest rates range from 1.15% – 11.01% (1.15% – 10.24 APR)Fixed interest rates range from 4.18% – 11.70% (4.18% – 10.83% APR).
Graduate Rate Disclosure: Variable interest rates range from 1.89% – 10.66% (1.89% – 10.41% APR). Fixed interest rates range from 4.64% – 11.23%% (4.64% – 10.95% APR).
Business/Law Rate Disclosure: Variable interest rates range from 1.89% – 9.22% (1.89% – 8.50% APR). Fixed interest rates range from 4.38% – 10.44% (4.38% – 9.72% APR).
Medical/Dental Rate Disclosure: Variable interest rates range from 1.89% – 8.02% (1.89% – 7.72% APR). Fixed interest rates range from 4.28% – 9.24% (4.28% – 8.94% APR).
Parent Loan Rate Disclosure: Variable interest rates range from 1.97% – 7.06% (1.97% – 7.06% APR). Fixed interest rates range from 4.94% – 8.58% (4.94% – 8.58% APR).
Bar Study Rate Disclosure: Variable interest rates range from 4.44% – 9.58% (4.44% – 9.52% APR). Fixed interest rates range from 7.39% – 12.94% (7.40% – 12.83% APR).
Medical Residency Rate Disclosure: Variable interest rates range from 3.53% – 7.03% (3.53% – 6.76% APR). Fixed interest rates range from 6.99% – 10.49% (6.98% – 10.09% APR).
Variable Rate Disclosure: Variable Rates are based on the one-month London Interbank Offered Rate (“LIBOR”) published in The Wall Street Journal on the twenty-fifth day, or the next business day, of the preceding calendar month. As of June 1, 2021, the one-month LIBOR rate is 0.09%. Variable interest rates will fluctuate over the term of the loan with changes in the LIBOR rate, and will vary based on applicable terms, level of degree and presence of a co-signer. The maximum variable rate is the greater of 21.00% or Prime Rate plus 9.00%.
Fixed Rate Disclosure: Fixed rate ranges are based on applicable terms, level of degree, and presence of a co-signer.
Lowest Rate Disclosure: Lowest rates require a 5-year repayment term, immediate repayment, a graduate degree (where applicable), and include our Loyalty and Automatic Payment discounts of 0.25 percentage points each, as outlined in the Loyalty Discount and Automatic Payment Discount disclosures. Rates are subject to additional terms and conditions, and are subject to change at any time without notice. Such changes will only apply to applications taken after the effective date of change.
Federal Loan vs. Private Loan Benefits: Some federal student loans include unique benefits that the borrower may not receive with a private student loan, some of which we do not offer. Borrowers should carefully review federal benefits, especially if they work in public service, are in the military, are considering possible loan forgiveness options, are currently on or considering income based repayment options or are concerned about a steady source of future income and would want to lower their payments at some time in the future. When the borrower refinances, they waive any current and potential future benefits of their federal loans. For more information about federal student loan benefits and federal loan consolidation, visit http://studentaid.ed.gov/. We also have several resources available to help the borrower make a decision on our website including Should I Refinance My Student Loans? and our FAQs. Should I Refinance My Student Loans? includes a comparison of federal and private student loan benefits that we encourage the borrower to review.
Eligibility Criteria: Applicants must be a U.S. citizen, permanent resident, or eligible non-citizen with a creditworthy U.S. citizen or permanent resident co-signer. For applicants who have not attained the age of majority in their state of residence, a co-signer is required. Citizens Bank reserves the right to modify eligibility criteria at any time. Citizens Bank private student loans are subject to credit qualification, completion of a loan application/Promissory Note, verification of application information, and if applicable, self-certification form, school certification of the loan amount, and student’s enrollment at a Citizens Bank participating school.
Loyalty Discount Disclosure: The borrower will be eligible for a 0.25 percentage point interest rate reduction on their loan if the borrower or their co-signer (if applicable) has a qualifying account in existence with us at the time the borrower and their co-signer (if applicable) have submitted a completed application authorizing us to review their credit request for the loan. The following are qualifying accounts: any checking account, savings account, money market account, certificate of deposit, automobile loan, home equity loan, home equity line of credit, mortgage, credit card account, or other student loans owned by Citizens Bank, N.A. Please note, our checking and savings account options are only available in the following states: CT, DE, MA, MI, NH, NJ, NY, OH, PA, RI, and VT and some products may have an associated cost. This discount will be reflected in the interest rate disclosed in the Loan Approval Disclosure that will be provided to the borrower once the loan is approved. Limit of one Loyalty Discount per loan and discount will not be applied to prior loans. The Loyalty Discount will remain in effect for the life of the loan.
Automatic Payment Discount Disclosure: Borrowers will be eligible to receive a 0.25 percentage point interest rate reduction on their student loans owned by Citizens Bank, N.A. during such time as payments are required to be made and our loan servicer is authorized to automatically deduct payments each month from any bank account the borrower designates. Discount is not available when payments are not due, such as during forbearance. If our loan servicer is unable to successfully withdraw the automatic deductions from the designated account three or more times within any 12-month period, the borrower will no longer be eligible for this discount.