Apprentice Programs vs. College: What's the Cost?

Perhaps it may have seemed enticing back in 1980 when the average college tuition was just $2,100 a year and, heck, it probably was worth it then. But today, the cost of a four-year degree is $96,244 in tuition alone. Add in the cost of books, living expenses, and all associated costs, and the final price of a Bachelor’s degree runs from $125,000 - $150,000! And student loan debt can be with you for years — sometimes even decades — after graduation.

So what’s the alternative?  Well, there are trade schools and associate degree programs that don’t require as long an investment of time, but also still come with a price tag. But, if you’re a self-starter who enjoys working in a hands-on environment, apprenticeship programs could be the ideal situation for you. Not only will you be learning a skill while gaining valuable knowledge, but you’ll also be earning an hourly wage – something than cannot be said for most people who attend a university. Trade apprenticeships also offer in-school training sessions that provide you with helpful information in a classroom environment.

One week every November is National Apprenticeship Week. This might be just the right time to finally commit to a new future — and becoming a part of the Registered Apprenticeship program from the Department of Labor can get you started on your way to a great education.

So, why apprenticeships?

Facts about Apprenticeships

• Apprenticeships, on average, take two years to complete
• Salaries for apprenticeship graduates are comparable to those offered to individuals with a four-year degree
• Apprenticeships offer a lower cost path to a career that is high in demand and pays well
• Almost 90% of employers surveyed say that having apprentices added value to their business
• Your hourly wage will increase each year that you’re in the apprenticeship program
• Having an apprenticeship can increase your future job security
  
  

Costs of Bachelor’s degree VS Apprenticeship

• Average cost of a Bachelor’s degree is over $127,000
• Over 20% of Bachelor’s degree students owe more than $50,000 —and 6% owe more than $100,000!
• An average trade school degree only costs $33,000 – plus you get paid while you learn!
• The average 20-year net income for apprenticeship students is $441,330 more than the 20-year average
        for Bachelor’s degree recipients
• On average, a trade school degree saves you $94,000 compared to a Bachelor’s Degree