As Gen Xers and millennials, we’re used to hearing that college is the way to success in jobs and life. But is a “traditional” four-year degree the way forward? We tackle the idea of college and whether it makes sense for you.

Topics covered in this episode on higher education

* Cost of college vs. lifetime earnings

* Trade school vs. “traditional” four-year degree

* Careers that pay more

* How to decide which path to take for you

* Should you take a gap year first?

Sources used for this episode

* We mention Steve Jobs, who received help from his family who made sacrifices to move across the country to give him a leg up, and Jeff Bezos, who received an investment from his parents.

* We touch on the book The Millionaire Next Door.

* Student loan debt statistics and how people are impacted.

* Our Season 1 student loan debt episode.

* NPR and the New York Times have stories on the impact of debt on those who don’t finish college.

* We mention the SAVE plan, but it’s important to note that it has been put on hold since recording this episode.

* Georgetown University’s study on how much degrees are “worth.”

* Forbes offers insight on why Ivy Leagues are considered valuable. Additionally, the NIH has an article from the Journal of Graduate Medicine focused on networking.

* Indeed offers a list of the highest-paying trade jobs.

* We mention tool and die makers, welders, and quality assurance.

* Check out this information from the New York Fed on the most profitable bachelor’s degree.

* We cite information on taking a gap year from the NOLS Blog, Wall Street Journal, and Gap Year Association.

* Some companies support gap years, and some schools provide resources for taking a gap year.

Our financial resource

Struggling to figure out what to do next with your life? Consider using the My Next Move Interest Profiler. We love how it asks questions, helps you figure out potential careers, and then goes into how much preparation you need for them.

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* Sarah Li-Cain

* Miranda Marquit

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Is college really a waste of money?