As summer comes to an end, many college students will be returning to their respective campuses to continue their studies. But as tuition rates continue to rise and the student loan bubble continues to inflate, many young Americans are looking for alternative solutions that will help them prepare for the future without going into massive amounts of debt before they have even begun their careers.
While a college education is still necessary for many looking to become doctors, lawyers, or academics, for example, it is not the only solution when it comes to building a prosperous career.
In many cases, going into hundreds of thousands of dollars’ worth of debt for a degree can actually be detrimental to both your financial future and your professional career. For example, those spending their early 20s in classrooms and lecture halls earning a degree are missing out on years of experience in the workforce.
For those who do not wish to accumulate debt, and whose desired career fields do not require a degree, college is not the end all be all. In fact, before there was such a huge emphasis placed on earning a college degree, many Americans began their professional life the old fashioned way; through apprenticeships.
Currently, there are over 400,000 apprentices in the United States alone. For those who choose an apprenticeship over college, there can be many benefits, which include avoiding student loan debt altogether.
For trades and other vocational careers which utilize apprenticeships, there is also the advantage of being able to earn a decent living soon after you complete your training. For example, someone learning the trade of sheet metal may be able to make $50,000-$60,000 immediately after their apprenticeship ends.
Even with a college degree, many graduates must start at the bottom of the barrel earning low salaries while they work their way up the ladder. Combining the low salaries with monthly student loan payments can present many financial issues for those fresh out of college.
There is no one-size-fits-all solution when it comes to gaining the skills and education needed to build a successful professional career, but for those who are looking for alternatives to the traditional collegiate system, apprenticeships can help you fast track your career without all the financial strings attached.
To learn more about apprenticeships, please join Generation Opportunity and Young Invincible on Twitter today at 3:00 PM EST for an in depth discussion on Millennials and apprenticeships.