College or no college? The question will always stir up a conversation, particularly with the cost of education going up and loans being on everyone’s mind.
What’s the best route to take instead of getting an education? We all know school isn’t for everybody.
So let’s add it up. According to a 2019 Business Insider story about the expenses involved with a college degree, the cost to attend a four-year university is around $37,000. Compare that to the cost to start a small micro business, which is $3,000, according to the Small Business Administration. No student loans need to be taken out or repaid with a small business.
According to a 2018 article by Freshbooks, an individual can expect to roughly earn about $49,000 their first year in about five years as a small business owner. An individual with 5 to 10 years of experience can expect to earn about $70,000 a year, the article said.
The more experience you have, the more money you can potentially make in the business world. It also depends on what type of business you start. A person going into childcare can expect to make less than someone going into the tech industry. Location can also play a part. The more profitable businesses are people working remotely.
Considering the cost to attend college an individual may not know what they want to do.
“A sophomore for 10 years and hasn’t picked a career” is the famous quote by rap artist Kanye West in his song “Gold Digger.” Not everyone knows what they want to be or do when they arrive on a college campus, which means they may make the wrong choice, which may mean a longer time in school.
If this sounds like somebody you know, they may need to seek alternatives. Starting a business can be something that they can do while they are figuring life out. It’s not without risks, but college isn’t either.
Tiana Gen, an employee at the San Joaquin Economic Development Center, says finishing college also has rewards. An individual who has graduated from college may have a stable income, which can potentially help you start a side business. College teaches you how to network which is something extremely important and also teaches you discipline, she said. Some individuals need structure in order to be successful as well and that is something college can offer.
Businesses can be risky because most businesses rely on receiving sales. Receiving sales means you need to be able to attract business. When one is starting a business they have to add up all the costs. Advertisement being one of the most important costs of all, other than equipment needed to get started. It’s not just as simple as saying you want to start a business, you have to do a lot of work to do so.
If an individual feels they are not college material one of the things they can do is enter the workforce early, which provides a balance between the two extremes.
Delta College also has more than 100 certificate programs that offer alternatives as well.
Delta offers everything from culinary arts to early childhood education certificates which can help students with getting their foot in the door at local businesses without earning an associate’s degree.
Keep in mind that Delta is an accredited college which also stands out to possible employers.
So the decision to make is yours. College or no college?
