Whether you’re a young person navigating the next steps after high school or a parent guiding your teenager toward their future, higher education is often a critical part of the career conversation. For many, however, the prospect of attending college comes with a hefty price tag, and for most, that means taking on debt.
The average federal student loan debt is more than $37,000 per borrower, and over 43 million Americans have federal student loan debt, according to educationdata.org. While college enrollment rates are declining in some sectors of higher education, there has been a noticeable rise in trade school enrollments, particularly among Gen Z students who are seeking alternative routes to career success. But which path is the most cost-effective for you?
In this week’s episode of Money Glow Up, host Tiffany Aliche speaks to career expert and executive coach Laura Gassner Otting to explore whether trade school or college is the better financial choice and dive into the benefits of each path. Gassner Otting explains that while college graduates may earn more over the course of their careers, trade school graduates start earning earlier — and without the burden of student loan debt.
Gassner Otting emphasizes that entering trade school doesn’t close the door to college as a future option. “College is always there to go later. There's plenty of people who return ... and use that as a pivot point,” Gassner Otting explains.