Here's what your grandfather would have told you: Education is one of the best investments you can make. Here's what he probably wouldn't have told you: the way you get that education matters just as much as whether you get it at all.
When college makes sense
If you're heading into engineering, healthcare, finance, or specialized technical fields (AI, Machine Learning, Cybersecurity, Data Science, etc.), the math maths. These careers have clear credential requirements and the salary premium is large enough that even a big chunk of debt makes sense. A nurse, physical therapist, or software engineer with $40,000 in student loans is still coming out significantly ahead over their lifetime.
The key to your equation is matching your debt load to your expected starting salary. A good general rule is don't borrow more than your anticipated first-year income. If you're going into teaching, don't take on $80,000 in loans. If you're heading toward engineering, $50,000 might be perfectly manageable.
The low-cost path that nobody talks about
We can call this a "hack" but it's really just being smart about where you spend your money. Community college for your first two years isn't settling... It's strategic. You can knock out your general education requirements for a fraction of the cost, then transfer to a four-year school for the rest of your major. Your diploma will say the same thing as someone who paid for four years of tuition (and you can look down on them for their bad decisions).
In-state, public universities offer dramatically better value than private schools for most majors. The networking advantage of prestigious schools is real, but it's rarely worth an extra $150,000 unless you're certain you're heading into investment banking or similar fields where the alumni network directly translates to opportunity.
Look for schools with strong co-op programs or mandatory internships. These programs let you earn money while building your resume, and they usually lead directly to jobs. You don't just want to offset costs, you want a head start on your future career.
When college may not be the right move
If you don't know what you want to study, taking a gap year to work and figure it out isn't always a bad idea. College is too expensive to treat as only a four-year exploration period - especially if you're relying on loans to pay for it all. There are also educational routes that differ from the traditional college experience, but pay better and have more opportunity.
| Alternative Path | Typical Training Cost | Median Salary Range | Time to Career Start | Best For |
|---|---|---|---|---|
| Trade School (Electrician, Plumber, HVAC) |
$3,000-$15,000 | $50,000-$75,000 | 1-2 years | Hands-on learners, mechanically inclined, prefer tangible work |
| Apprenticeship Programs | $0-$5,000 (often paid) |
$45,000-$70,000 | 2-4 years | Those who learn by doing, want to earn while training |
| Coding Bootcamp | $10,000-$20,000 | $60,000-$95,000 | 3-6 months | Career changers, self-motivated tech learners |
| Certifications (IT, Project Management) |
$2,000-$8,000 | $55,000-$85,000 | 6-12 months | Career pivoters with some experience, specific skill gaps |
| Self-Taught + Portfolio | $0-$3,000 | $40,000-$80,000 (highly variable) |
1-2 years | Exceptionally disciplined, creative fields, tech roles |
Trade schools and apprenticeships offer clear paths to solid incomes. Electricians, plumbers, and HVAC technicians usually out-earn recent college graduates with little to no debt. If you're mechanically inclined and the idea of an office sounds like prison, this might be your path.
The real question
Your grandparents knew the answer: education pays off. But their world had one obvious path. Yours has an almost infinite number, and the best one depends on what you want to do, how you learn, and what you're willing to sacrifice to get there.
The expensive mistake isn't choosing college or skipping it. It's making any of those choices without actually thinking them through.
