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September 2016

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10 September, 2016 l Working World l WorkingWorld.com T he Value of Trade Schools and career colleges worth the money? It's an important question. And you certainly wouldn't be the first person to ask. Most of us need to feel confident that the value of education is truly positive before investing in it. So, what's the answer? Well, that depends on you and the choices you make. Going to school can help you achieve success, but you first have to define what success means to you. Different types of post-secondary schools have different focuses and can lead to different results. What's your desired outcome? Maybe you just want to be a more informed and engaged citizen. Maybe you love learning and want to become a full-time scholar. Or maybe, like the majority of people, you mostly want to secure a career that you enjoy, that pays well, and that makes it possible to create a comfortable life. Think about that last option. It involves getting into a good career. But a lot of traditional colleges and universities don't make that their main emphasis. Instead, they tend to focus on giving students broad bases of knowledge that, although useful and enriching, may not apply directly to specific career paths. That's not to diminish the type of value those schools provide. Depending on how you set your educational goals, they can absolutely offer beneficial learning and social experiences that result in meaningful credentials and other significant outcomes. So, are trade schools worth it? In short, yes. Here's something key to understand: A whole lot has changed since the time your parents were in college and starting their careers. In the 21st century, tangible skills and industry qualifications are what get most people in the door. And those are often most easily gained by attending schools that specialize in career, technical, vocational, or trade school education. In fact, it's been shown that many post-secondary graduates from technical or career-focused programs earn significantly higher incomes than people who major in strictly academic fields. And almost 80 percent of all college-level credentials below a bachelor's degree are awarded for specific vocational fields. So as you consider what the value of a college education needs to look like for you, keep in mind what trade schools can offer. Below the infographic, check out seven good reasons to get career- focused training: 1. HIGHER INCOME POTENTIAL Let's begin with the very first thing people tend to investigate when exploring whether to go to college: return on investment (ROI). For most of us, that means money. How much will we make after we graduate? Will it be more than we would have made without going to college? When it comes to college, ROI is usually thought of as the additional amount of money you can earn as a graduate after accounting for the cost of your schooling and how much you would have made if you didn't go to school. At an individual level, that is obviously hard to predict with absolute certainty. So many factors are at play. But we can make an educated guess by looking at some recent and historical trends. And the good news is that, in general, the average income of college graduates tends to be more than what those without a post- secondary education make. In fact, the value of a college degree, diploma, or certificate might be greater than ever. One big reason is that the wages of people without any college- level training have been on a downward trend. So you risk falling further and further behind if you don't go to school. But, beyond that risk, college ROI still looks positive when you account for the other variables involved According to research by the Federal Reserve Bank of New York, students who earned associate's or bachelor's degrees, on average, experienced an ROI of about 15 percent over the decade from 2003 to 2013. And look at these fascinating statistics: Between 1970 and 2013, the average yearly incomes of college graduates were significantly higher than those of non-grads. Bachelor's degrees earned people about $64,500. Associate's degrees were worth about $50,000. And high school diplomas only earned about $41,000. On average, bachelor's degree holders make over $1 million more—over the course of a lifetime—than those with only a high school education. And associate's degree holders make roughly $325,000 more. Of course, not all degrees are created equal. A big factor in how much you make is the course of study you choose and the field you work in. Training that is hands-on, technical, and geared toward thriving areas of the economy tends to have the best ROI. The result is that a significant number of people end up making more money with a career- focused associate's degree or diploma than those who have bachelor's degrees. For example: Over 30 percent of young people with an associate's degree—and 27 percent with an industry-relevant license or certificate—earn higher incomes than those with a bachelor's degree. People with associate's degrees or other fast-to-attain credentials geared toward specific careers and in- demand technical skills—such as for the healthcare field—make an average FEATURE ARTICLE by www.trade-schools.net 7 Benefits That Prove the Value of Education Is College Worth the Money?

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