There is a big push from parents and society to have their children attend four years of college. College is not for everyone, which is probably why only 56% of college students complete four-year degrees within six years, according to a Harvard Graduate School of Education study. There are alternatives to the traditional four-year college route such as:
Trade/Technical School: This can include training to become a plumber, electrician, HVAC tech, welder, auto tech, web developer, hygienist, hair stylist, and many more. Many of these jobs are in high demand and offer good salaries.
Community College: Community college is extremely cost-effective when compared to four-year colleges. A good strategy is to attend community college for two years and then transfer to a four-year college. Many schools, especially state schools, will accept either most or all of your credits.
Entrepreneur: Starting your own business can be very challenging, but very rewarding. Not everyone has the mindset and discipline to be a successful business owner, which is why you need to plan ahead. Although, if you give it a chance while you are 18 years old, you most likely have less obligations, such as family and a mortgage, which takes away a large chunk of risk. If you have experience in your trade, you can also start your own business and perhaps become more successful than if you were to remain an employee.
Sales Career: Selling can be a very lucrative career if you are selling the right products and services. There are sales people for cars, home improvement, software, real estate, and just about everything else. A good sales person can do very well for themselves and most likely does not need a college degree.
These are just a few alternatives to a traditional four-year college degree. With the high cost of college these options should be discussed with your children.