Managing rising college costs
A growing problem that parents face today is an increasingly expensive undergraduate education. This rise in tuition costs is causing Millennials and young people to be burdened by high levels of student debt after they graduate.
While there are other financing options besides taking a loan, like scholarships and grants, not everyone can qualify for them.
So, what can you do if you’re in high school and thinking of your future?
For a long time, people regarded college as the stepping stone to a promising career. This mindset is changing because many individuals with no degrees have started successful businesses. They’ve become millionaires.
Here are some alternatives to going to an institution of higher learning and incurring a huge debt.
Save up First
It might make sense to get a job for a few years and set aside money to pay for school. If you don’t have a clear goal in mind, you can use this time to figure out what you want to do when you graduate.
You no longer have the luxury of spending four years in college trying to find your path because it’s so expensive. You don’t want to end up working the rest of your life, paying for a degree that’s not relevant to your final chosen profession.
If you know what you want to be, you can take courses at night to prepare for university when you can afford it.
Be an Intern
Times are different now than they were a decade ago. Many companies no longer prioritize academic qualifications as criteria when hiring.
Large corporations prefer applicants with practical skill sets such as creative thinking, problem-solving, and leadership.
Look for enterprises with excellent internship programs and apply for a position. Many countries in Europe offer an apprenticeship in the banking, manufacturing, and IT sectors.
Become an Entrepreneur
If you have a new or innovative idea, you should consider creating a business. Although you’ll face challenges and bear most of the risks, you’ll also reap the fruits of your labor. You’ll measure your accomplishment by your financial worth and contribution to society.
While many world-renown entrepreneurs, like Elon Musk and Jeff Bezos, have degrees, it’s not a criterion for success. For instance, Mark Zuckerberg, co-founder of Facebook, and Microsoft’s Bill Gates, both dropped out of Harvard and went on to build businesses that made them billionaires.
Seek Valuable Experience
Many occupations offer you the opportunity to work and learn on-the-job. Positions in customer service, food and beverage, and sales provide hands-on lessons such as people and time management, communication, effective listening, and decision-making.
You’ll also develop your character by learning responsibility, humility, patience, and empathy while dealing with different types of people.
These takeaways are worth more than the low wages you’ll earn in the industry and will pay dividends for the rest of your working career.
Start an Online Business
There are countless rags-to-riches stories of people who became millionaires on the internet. Most of them went from being broke to becoming financially independent through their cyber ventures.
The many opportunities you can get involved in include affiliate marketing, print-on-demand, and e-commerce. Although some know-how is required, you don’t need a college qualification to get started. All it takes to be successful is persistence and hard work.
It’s a level playing field for everyone.
As you’ve seen, college is no longer an essential path to a fulfilling future. You don’t need to get so deep in student debt that you’ll spend the rest of your working life paying it off.
Focus on finding your passion. Then, identify the skills and knowledge you’ll need to achieve your goals and develop them. You can get all the education you want online. The internet has every resource you require.
It’s paramount that you change your mindset with the times. Take a chance on yourself and follow the road less traveled.