We are going through a monumental shift in the world of academia. The question is whether or not the shift is taking us in the right direction. Parents are pulling every trick in the book to get their children admitted to college and some are even going further to keep them enrolled. More than 60% of all students earning a 4-year degree take 6 years to complete school and 41% of all freshmen will never receive a cap and gown. Meanwhile, some colleges are operating on a surplus while still raising tuition rates and other more accessible institutions are shutting down.
As most people know, college tuition is higher now than at any other time in our history, after adjusting for inflation. In fact, a year of college costs $22,000, on average. Whereas in 1995, college costs were around $8,800 a year. The most disheartening part of this is that when people don’t finish their degrees, they still need to repay the loans. Here’s another shocking fact -- 28% of all college freshman will drop out of school before they finish their first year. This means that if the average semester costs $11,000, it is safe to say that there are many people who only finished one semester of college and still owe a lot of money.
What’s complicated about these data is that even though the cost of college is prohibitive for many, most people believe that having an education is better than not having one. That’s because most good-paying jobs still require a 4-year degree. What is up for debate, however, is how we receive our education.
With online courses, access to educational content is easier than ever before. For instance, anyone can hop on YouTube and take a free cooking class, one can learn all the fundamentals of accounting on a number of e-learning websites, or pursue an MBA for free on Amazon Prime. With so many educational alternatives, many young people and their parents are beginning to look at universities with skepticism. However, the question is whether employers value these alternate educational experiences.
Without conclusive evidence, where does that leave someone looking for alternatives? Is the “return on investment” higher if you attend a university for 4 - 6 years, or a trade school for 1 - 2 years? Or is it better to enroll in a program that focuses on skill-building and social capital for 4 months?
At Climb Hire, we believe that a purposeful curriculum that builds professional skills along with technical skills is the best approach with the highest ROI for modern-day opportunities, or as we like to call it, New Collar jobs. In 4 months, we use a mixture of an online and offline approach to educating our students on the exact skills that they will need to be successful in a new entry-level role in tech. Our tuition isn’t free, but it’s cheaper than a year of college in 1995 AND we don’t expect anyone to pay for their tuition until they get a job. That’s what we call being outcomes focused! Speaking of jobs, we work closely with big tech companies and thousands of their clients. When you’re done with our program, we’ll introduce you to companies who are hiring for the jobs we are training you on and help you at every step along the way. Our name is Climb Hire for a reason, come climb with us.