A new report shows an increase in teenagers who are receiving their parent’s support in exploring other options besides college after high school.
The American Student Assistance released a recent study that surveyed over 3,000 middle and high school students and found that 70% of teens say their parents are now more supportive of alternatives to college, including trade school or apprenticeships.
With the cost of college becoming pricier by the year and a growing number of six-figure jobs that don’t require a degree, younger generations are considering alternatives to a four-year degree, and parents are on board.
As college costs continue to rise and more high-paying jobs no longer require a degree, younger generations are increasingly exploring alternatives to a four-year education with their parent’s support.
“Parents are waking up. College doesn’t carry the same [return on investment] it once did because the cost is outrageous, and the outcome is uncertain,” Trevor Houston, a career strategist at ClearPath Wealth Strategies, told Fortune. “Students now face the highest amount of debt ever recorded, but job security after graduation doesn’t really exist.”
The cost of college now costs more than twice what it did at the start of the century, with students paying over $38,000 a year on average. Meanwhile, more than 4 million Gen Zers are jobless and shunning their “worthless” college degrees, the study found.
“Many students today are looking for faster, more affordable routes to the workforce,” said Julie Lammers, executive vice president at American Student Assistance. “We need to do more to better support and validate those goals.”
As the tides turn, many parents are beginning to recognize that while the traditional path from high school to college to a career has worked for some, it may not be the right fit for their children. Skilled trades, apprenticeships, career training programs, boot camps, industry certifications, and occupational licenses are becoming increasingly viable options for entry-level career success.
“An aging workforce in the trades and a surge in demand to meet infrastructure needs, ever-growing real estate demands, and changes to U.S. energy production mean that there are considerably more job openings than skilled workers to fill the need,” Lammers said.
RELATED CONTENT: Detroit Black Business Alliance Speaks Out Against City Ordinance That May Affect Black Contractors
