Deciding between a traditional four-year university and a technical school is a pivotal choice that can shape your career and financial future. With millions of students enrolled or planning to enroll in U.S. degree-granting colleges and record tuition costs, understanding the differences between these educational paths is more important than ever. Here, we break down key factors such as enrollment trends, costs, scholarships, and career outcomes to help you make an informed decision about the future of your education.
Enrollment and Trends
In fall 2023, about 15.2 million students were undergraduates, with 8.5 million pursuing bachelor’s degrees, and approximately 3.1 million graduate students. Despite these large numbers, college enrollment has generally declined over the past 12 years. The COVID-19 pandemic significantly accelerated this trend, with total enrollment dropping by 4% from fall 2019 to fall 2023. Undergraduate enrollment fell by 5.6%, and community college enrollment saw a dramatic 12% decrease, while graduate enrollment increased by 4.8%.
This decline reflects a broader shift in how students are approaching higher education. As college costs rise and economic uncertainties persist, many students and families are rethinking the traditional four-year college path. This shift is particularly evident in the increasing appeal of technical schools, which offer a faster and often more affordable route to a career.
Cost Considerations
College costs have risen across both public and private institutions. For the 2023-2024 academic year, the average in-state tuition and fees at ranked public colleges stood at $10,662, significantly lower than the $42,162 average at private colleges. Out-of-state public college costs averaged $23,630. Despite substantial tuition discounts, the cost of education remains a significant burden. For example, Princeton University’s sticker price for 2022-2023 was $57,410, but need-based grants reduced the average cost to $17,464.
Tuition increases have moderated somewhat recently when adjusted for inflation, with private colleges seeing a 0.4% decrease and public schools showing declines of 2% for in-state students and 3% for out-of-state students. However, tuition inflation averaged 12% annually from 2010 to 2022. Students also face additional expenses like housing, food, and books, further straining their finances.
Scholarships and Financial Aid
Scholarships are a critical resource, providing funds that do not need to be repaid, unlike student loans. Forbes reports that recipients of private scholarships are more likely to graduate than those relying solely on loans. Scholarships significantly reduce student debt, with the average college student graduating with around $30,000 in loans, a figure that has increased by nearly 25% over the past decade. Scholarships also help offset the impact of public education funding cuts and promote equitable outcomes by targeting underrepresented communities and specific fields of study.
Scholarships can also alleviate the need for part-time jobs, allowing students to focus on their studies and potentially improve academic performance. They also cover additional educational expenses and provide networking opportunities through mentorship programs and professional development events. For example, the American Chemical Society Scholars Program offers financial aid and a professional network to minority students interested in chemistry.
Technical Schools vs. Universities
Choosing between a technical school and a four-year university involves considering your career goals, financial situation, and preferred learning style. Technical schools offer targeted training, certifications, and skills for those eager to start their careers promptly. Programs can be completed in as little as a year, leading to immediate employment with salaries ranging from $30,000 to $60,000 annually, and potentially higher with experience.
Conversely, university students often take an average of six years to graduate, accruing substantial debt. The average four-year college student graduates with more than $37,000 in debt, whereas technical school graduates might already be working and earning, avoiding high tuition costs and gaining a financial head start. Employment prospects also favor technical school graduates, who often find ample job opportunities and advancement potential in high-demand fields. In contrast, nearly half of university graduates struggle with underemployment or unemployment.
The learning experience at technical schools is hands-on and industry-focused, bypassing the broad and often theoretical coursework required at universities. This practical approach can be more engaging for students who prefer direct application of skills. Additionally, technical schools can offer some traditional college experiences, such as on-campus housing and student activities, providing a balanced approach for students seeking both career readiness and campus life.
Making the Decision
Ultimately, the choice between a technical school and a university depends on individual preferences and circumstances. Consider the following factors:
- Cost and Financial Aid: Assess the total cost of education, including tuition, fees, and living expenses. Explore scholarship opportunities and financial aid packages.
- Duration and Commitment: Determine how long you are willing to spend in school and whether you prefer a shorter, more focused program.
- Career Goals: Research the job market for your chosen field and consider which educational path offers better employment prospects and salary potential.
- Learning Style: Reflect on whether you prefer hands-on, practical training or a broader, more theoretical education.
- Lifestyle: Consider the type of college experience you want, including campus life, extracurricular activities, and networking opportunities.
By carefully weighing these factors, you can choose the educational path that best aligns with your goals and sets you up for a successful and fulfilling career.
If you have any questions about education planning, give us a call.
Sources: Located at the bottom of the article.
Golf Tip of the Week
It’s a Driving Chip Shot With Saucy Spin—And it’s Perfect For Links Golf
With the U.S. Open behind us, it means the golf calendar has entered what I consider the best part of the season.
Links season. The time of year when regular golfers fly away to their buddies trips abroad that they’re so excited about, and professional golf begins rolling through Scotland.
So, to get us excited for the start of links season, I welcomed onto the pod a good friend of mine, Sean Zak. Sean’s a talented writer at Golf.com, and recently wrote an awesome book about his summer in St. Andrews, which you can buy right here.
Sean is originally from Wisconsin, which meant his summer abroad was a bit of a golfing culture shock. But as golfers do, he adapted to the links conditions—and learned a useful chipping tip for the rest of us along the way.
Look at your lofted
You’ve probably heard the term “bounce” before.
Oversimplified, bounce is a term for the angle and width of the sole of the club. The more bounce you have on your wedge, the less likely your wedge is to dig into the ground—it’ll bounce off of it instead.
More bounce is generally helpful because it can prevent chunked shots, but on the dry sandy turf that links golf is played on, it can make life more difficult. The more Sean reached for his high-bounce lob wedge, the more he found his wedge would bounce off the turf and lead to skulled shots over the green.
So instead, Sean talks about how he learned to chip with his lower lofted wedge: His 52 degree.
With less bounce and less loft, the 52 degree wedge helped Sean dig the club more into the ground, which created a low driving ball flight, with lots of backspin and crispier contact.
The next time you’re on dry, linksland turf, try reaching for a lower-lofted wedge. It’ll probably help.
Tip adapted from golfdigest.comi
Recipe of the Week
Brownie Ice Cream Sandwiches
8 Servings
Ingredients
- Cooking spray
- 1 (16-oz.) box brownie mix, plus ingredients called for on box
- 2 c. vanilla ice cream, softened
Instructions
- Preheat oven to 350°. Line a 13″ x 9″ baking pan with parchment, leaving an overhang on 2 long opposite sides. Grease with cooking spray. In a large bowl, prepare brownie batter according to package directions. Pour into prepared pan; spread in an even layer.
- Bake brownies until a tester inserted into the center comes out with a few moist crumbs attached, 20 to 24 minutes. Let cool.
- Using parchment overhang, remove brownies from pan. Line same pan with parchment, leaving an overhang on 2 long opposite sides.
- Cut brownie in half parallel to work surface to make 2 (13″ x 9″) pieces. Arrange one half cut side up in prepared pan. Spread ice cream in an even layer over brownie. Top with second half cut side down and gently press to make sure edges of brownies are touching ice cream. Freeze until ready to serve, at least 2 hours or up to 1 month.
- Using parchment overhang, lift sandwiches out of pan. Cut in half lengthwise, then cut each half into 4 pieces. Serve immediately or return to freezer.
Recipe adapted from Delish.comii
Travel Tip of the Week
10 Most Affordable Beach Destinations to Live in Around the World
Many dream of waking up to the soothing sound of crashing waves, but with inflation and real estate prices driving up the cost of living, few can afford to move to a beach town. However, this doesn’t mean you have to abandon your fantasy, as plenty of oceanfront communities across the globe offer affordable housing and good-value living.
And while the cost of living also largely depends on your spending habits, the beach towns we’ve highlighted below guarantee your dollar will stretch much further without sacrificing the little pleasures like eating out, enjoying cultural activities and events, and taking advantage of everything the destination has to offer.
So, whether you’re planning your retirement or want to try the digital nomad lifestyle, we’ve found 10 budget-friendly places around the world — both small and large — where surf, sand, and sun are pretty much a given 365 days of the year.
To compile this list, we consulted experts from International Living, specializing in life overseas, as well as multiple reports on the cost of living in cities worldwide. And, of course, be sure to check the visa requirements for your beach destination of choice before packing up.
George Town, Malaysia
The capital of Penang, an island off Malaysia’s west coast, is a vibrant city famous for its historic attractions and colonial architecture, which were recognized by UNESCO and included in the organization’s list of World Heritage Sites in 2008. The city is also known for its street art, vibrant nightlife, and diverse population, reflected in its eclectic dining scene that blends Malay, Chinese, and Indian influences.
According to data by International Living, a couple can live on a monthly budget of $1,760, whereas $2,500 will get you a place in a luxury high-rise with an ocean view and resort-like amenities.
Valencia, Spain
Known as the birthplace of paella, Valencia offers a fantastic food scene, striking architecture, and affordable living, regularly placing it among the best beach destinations to live in Europe.
The city has several golden-sand beaches and is a short flight from the Balearic islands of Mallorca, Ibiza, and Menorca (or a five to seven-hour ferry ride).
A couple renting a two-bedroom apartment in downtown Valencia can live comfortably on a monthly budget of $2,635, according to International Living.
Mazatlán, Mexico
Last year, this underrated beach destination ranked among the most affordable communities in Mexico for expats. GoBankingRates calculated a single person would need less than $1,300 per month to live comfortably here, and that number includes rent. The company also noted the average one-bedroom apartment in the city center costs about $620 per month.
The city, which already has a sizable expat community, is home to a beautiful historic area, more than 10 miles of beaches (including several on the three islands off its coast), and many music events throughout the year.
Canggu, Bali, Indonesia
Bali’s picture-perfect beaches and laid-back lifestyle have attracted many expats, but if you’re looking for one of the most affordable destinations on the island, consider Canggu. This increasingly popular village on Bali’s south coast is close to some of the island’s most important temples, plus it’s surrounded by scenic rice paddies and banana plantations.
You can expect to spend under $1,500 per month here, of which $800 goes toward renting a two-bedroom villa, according to International Living.
Hua Hin, Thailand
A former fishing village, Hua Hin is now the preferred seaside getaway for both locals and visitors, thanks to its picture-perfect beaches, golf courses, seafood restaurants, lively night market, and temples. And while the destination has many urban conveniences, if you miss the vibrancy of a big city, Bangkok is about a three-hour drive away and easy to visit for a weekend.
International Living points out couples in Hua Hin can live comfortably on a monthly budget of $2,000, which covers eating out a few times a week, groceries, entertainment, and renting a one- or two-bedroom apartment.
Varna, Bulgaria
Located on Bulgaria’s Black Sea coast, north of Greece and Turkey, Varna is a midsized city offering access to scenic beaches, museums, an aquarium, a lively garden, many resorts, and an international airport. The region is an up-and-coming luxury destination on the Balkan peninsula, with a presence from global hospitality brands like Meliá. Nobu recently announced plans to open a property in the area as well. And golf enthusiasts can practice their swing at one of the most scenic courses in the region at Thracian Cliffs, which overlooks the Black Sea.
According to local data, a furnished two-bedroom apartment in Varna costs around $655 monthly and about the same for other expenses. Bulgaria, overall, was named one of the best places to invest in real estate by Sothebys in 2023.
Lagos, Portugal
The Algarve region of Portugal is a magnet for expats, thanks to its sun-drenched beaches, delicious cuisine, and many charming villages and small towns. Lagos, in particular, is a popular choice as it offers urban amenities with the laid-back lifestyle of a resort town, including a vibrant nightlife scene, excellent shopping, and a marina.
International Living experts estimate a couple will need a monthly budget of about $2,080, inclusive of rent.
Toulon, France
This city along the Mediterranean may not be as well known as Marseille or Nice, which is precisely what makes it appealing as a home base. As the gateway to Provence, Toulon is an ideal destination for sampling the region’s delicious food and admiring its stunning scenery. Residents enjoy plenty of sunshine throughout the year, beautiful historic architecture, plenty of cafes and restaurants, and a thriving arts scene. With several beaches in and around the city, you’re never too far from a stretch of sand.
Capital.fr reports the median rent for a one-bedroom apartment in Toulon is $16 per square meter (or about $600 per month), plus approximately $150 for electricity and heating.
Azores, Portugal
Island living in the middle of the Atlantic? Sign us up. The Azores is a much calmer, less crowded, and more affordable alternative to Portugal’s mainland. The nine islands comprising the archipelago boast dramatic landscapes with volcanoes, lagoons, thermal springs, and small towns where life moves at a slower pace.
Although certain goods may cost more because they’re imported, living in the Azores is generally less expensive than on the mainland, at around $1,500 per month. In the capital, Ponta Delgada on the island of São Miguel, monthly costs are about $1,200 if you’re single and $2,850 for a family of four, according to Expatistan.com.
Puerto Morelos, Mexico
The Riviera Maya is a bustling vacation and second-home destination where housing isn’t exactly cheap these days, but if you’re searching for an affordable alternative in the area, the small fishing village of Puerto Morelos, located between Playa del Carmen and Cancun, is your best bet.
In contrast to its more famous neighbors, this Caribbean community is more laid-back and relaxed, offering plenty of opportunities to stay active. At the same time, thanks to its proximity to Cancun (the city is about a one-hour drive away), residents have access to quality health care and other urban amenities.
International Living notes a couple can live here on $1,700 a month, of which rent accounts for $500 to $700, depending on the apartment.
Tip adapted from travelandleisure.comiii
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Sources:
College Enrollment Statistics in the U.S.
College Tuition Inflation Rate
See the Average College Tuition in 2023-2024
10 Reasons Why Scholarships Are Important
Technical Education vs. Four-Year College
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i https://www.golfdigest.com/story/links-golf-open-championship-season-how-to-golf-iq
ii https://www.delish.com/cooking/recipe-ideas/a61071620/brownie-ice-cream-sandwiches-recipe/
iii https://www.travelandleisure.com/affordable-beach-destinations-to-live-in-around-the-world-8656865
