Tuesday, June 25, 2013

IS COLLEGE THE ONLY OPTION?




Scenario #1:
After graduating high school, Rodrigo decides to go into an apprenticeship for 4 years.  The apprenticeship doesn't pay much at first but it does increase significantly every year over the span of the work/learn program.  He works a lot and lives without extravagances as the work is much and the pay very little.  However, Rodrigo is optimistic, for the needs of a young single man are few but the value of the experience gained will be great.  After the 4 years Rodrigo has learned much and has a real skill that makes him valuable to companies looking for workers skilled in his field.  He has saved up his money (the little that could be saved) and has $1,252.16 in his checking account.  The business where Rodrigo spent his 4 years studying is eager to hire him full-time as he has shown great promise.  Although he enjoyed working where he was, Rodrigo isn't sure if he'll take the job yet... he may look around and see what other businesses will pay him first or maybe even try a different field of work entirely.  After all, he's got some money in the bank now.

Scenario #2:
After graduating high school, Klaus decides to go to the university to study history.  Maybe he'll be a history teacher or a researcher for The History Channel or work for the government, but at least he will have a degree from a major university (which is what most companies look for anyway).  He takes out student loans and is pressured by his father and his peers to finish up in 4 years in order to get started on his career, and paying back his loans.  Upon graduation, Klaus moves into his parents' basement to decompress and start looking for work related to his new degree.  His first payment on the $30,000 college debt will be due in a month or so and his parents are hoping that Klaus's residency in their basement is only temporary.  In order to generate some income (and take advantage of his "free rent" situation) while he searches for his career employment, Klaus takes a job as a cashier at the local hardware store... temporarily of course.  After a year goes by, Klaus realizes he enjoys the hardware business and has even been promoted to assistant manager.  He moves out of his parents' basement and takes an apartment above the hardware store where he works which helps him avoid the cost of having a car.  Five years later, Klaus has the opportunity to purchase the hardware store and run his own business.  He would love to do this but he hesitates because he still owes $22,000 in college loans and would need to take out an additional loan to purchase the store.  

2 comments:

  1. Very though-provoking, indeed! Unfortunately, the system is perpetuating itself in a vicious cycle: The idea is that you can't be successful without a degree, so you get a degree, then everyone else has a degree, so you get a low-paying job. You get another degree so you can get a higher-paying job in order to pay off your loan. But now you have more loans to pay off, and more people got another degree, too. More debt, still not the job you want or need.

    And in academia, it's even worse because everyone gets terminal degrees in order to get a college teaching position, but that's what everyone else is doing in order to get a college job. There aren't enough college jobs available, so they have to recruit more students to get degrees!!

    Yes, I think the answer is real, practical apprenticeships!

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  2. Thanks for helping young people think through these things . . . so they'll maybe consider creative options that keep them out of debt. Those who want to attend college should read one young woman's words of wisdom about debt free college, at www.snazzyartables.com.

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