Trade School vs. Community College
Can you earn the same as someone with a bachelor’s degree for 18% of the cost?
One Size Fits None
30% of students worldwide only go to a 4-year college because they think it’s the natural progression after high school
23% only go because it’s expected of them
4-year college might be the perfect fit if…
Your chosen career path requires a bachelor’s degree
You want to pursue a master’s or professional degree later on
You have the time and funds to devote to the full-time college experience
Education as an end in itself is important to you
But what about everyone else?
Be aware of other options:
4-year college or university: Earn a bachelor’s degree
2-year community college: Earn an associate’s degree
Trade/vocational school: Earn a certificate, diploma, or apprenticeship
Other Forms of Higher Ed Can Pay Off
Lower Cost
Average tuition and fees, 2017-2018 school year:
Public 4-year institution (in-state)
Annual: $9,970
Total: $39,880
Public 2-year institution (community college)
Annual: $3,570
Total: $7,140
The average cost of a 4-year bachelor’s degree is 82% higher than the average cost of a 2-year associate’s degree
Since 1992, the share of students leaving school with more than $50,000 of federal student debt has grown by 8.5X
Comparable Payoff
Pay gap for workers with different credentials levels off over time
Median earnings for workers in Colorado after graduating, 2015:
Trade/Vocational School
Certificate (<1 year) 5 years: $39,391 10 years: $53,940 Certificate (>1 year)
5 years: $44,070
10 years: $48,884
2-year institution
Associate of General Studies
5 years: $40,513
10 years: $47,716
Associate’s degree (AA or AS)
5 years: $36,920
10 years: $42,484
Associate of Applied Science
5 years: $49,694
10 years: $54,146
4-year institution
Bachelor’s degree
5 years: $46,930
10 years: $55,287
After 10 years, a worker with a 1-year certificate made a median of only $1,347/year less than a worker with a bachelor’s degree
Positive Employment Growth
A growing number of recent college graduates* are working in jobs that don’t require a college degree:
2000: 38%
2015: 44.6%
Most of the fastest growing jobs in the U.S. won’t require a bachelor’s degree
Employment growth 2016-2026:
Wind turbine service technicians: 96.3%
Home health aides: 47.3%
Bicycle repairers: 29.3%
Massage therapists: 26.3%
Pet caretakers: 24.2%
Skilled trade positions are plentiful—which path will you choose to fill them?
Trade School vs. Community College
Trade School / Vocational School
Coursework: Specialization on chosen career field, no extra/general courses
Faster track, but less room to explore other fields
Learning environment: Hands-on
Length of study: Usually less than 2 years, varies based on program
Options for study: Many schools offer part time and online tracks
Average cost: $33,000
Financial aid: Eligible for loans, grants, and field-specific scholarships
What you earn: Certificate or diploma, opportunity to take a licensing exam, or an apprenticeship/work as a journeyman, depending on field and school
Ideal for someone who…
Is sure of desired career field
Learns by doing
Wants to obtain credentials and join the workforce quickly
Community College
Coursework: Rounded education, requires classes outside chosen career field
Credits can be applied toward a traditional college or university degree
Learning environment: Classroom/lectures + hands-on, depending on field
Length of study: Usually 2 years
Options for study: Many schools offer part time and online tracks
Average cost: $7,140
Financial aid: Eligible for Stafford loans, Perkins loans, PLUS loans, Pell grants, and state-specific programs and scholarships
What you earn: Associate’s degree; some grant certificates or diplomas to students who have completed course requirements for a chosen field
Ideal for someone who…
Would like to test out a few fields before settling on one
Learns well in a classroom setting
Is able to devote 2 years to education
Not everyone needs the same education to be successful—Find the best fit for you
Sources:
https://nces.ed.gov/fastfacts/display.asp?id=372
https://www.internationalstudentsurvey.com/international-student-survey-2017/
https://trends.collegeboard.org/sites/default/files/2017-trends-in-college-pricing_1.pdf
https://www.brookings.edu/wp-content/uploads/2018/02/es_20180216_looneylargebalances.pdf
https://www.air.org/news/press-release/associate-s-degrees-and-certificates-can-be-path-middle-class-new-report-colorado
https://www.epi.org/files/pdf/103124.pdf
https://www.vocationaltraininghq.com/average-cost-vocational-school-usa-2017/
https://money.howstuffworks.com/personal-finance/college-planning/financial-aid/financial-aid-trade-school1.htm
https://study.com/blog/trade-school-vs-community-college-what-s-the-difference.html
https://www.thebalance.com/financial-aid-for-community-college-students-795124
