It's all about the economy, or so it seems. Costs at four-year colleges and universities continue to rise and price out many students. Parent Plus loans are more difficult to obtain, as credit remains tight. Federal Stafford loans, especially for undergraduates, are limited to a maximum of $5500 (total unsubsidized and subsidized).




In 2008, the average annual cost of tuition for a four-year private college education was $25,143. Public four-year colleges average substantially less
(about $3000 per year; however, there is quite a range of prices). The University of Michigan-Ann Arbor charges about $12,000 a year in tuition alone for in-state students and about $35,000 for out of state students.

Unless a student receives grants, scholarships and loans, there is a considerable gap between the maximum Stafford loan limits and the cost of tuition. In general, private foundations have less money to award, because of reduced investment returns due to the global economic slowdown. These constraints are not to suggest that a four-year college or university is not a good option. However, for some families the costs are just too high.

Costs are not the “be all and end all” when it comes to college choice. Parents and other stakeholders often remind college-bound students about the importance of wisely choosing a degree and an eventual career path. Associates degrees in healthcare, information technology (IT), education, and emerging “green” technologies are attractive options. These fields are promising in that they are expected to increase in the number of job openings over the next six years. Further, many employers offer tuition reimbursement for continuing education; therefore, a four-year degree may not be out of reach after all.


Healthcare Two-Year Degrees

Consider a career as a registered nurse, a physical therapy assistant, a medical technologist, or certified medical assistant. The new healthcare information technology path weds the two disciplines together in a cutting-edge program that will play an important role in healthcare reform. These examples are only a few of many options for a career in healthcare requiring a two-year degree. The pay is attractive and there is tremendous growth potential. The work is challenging and evolves rapidly.


Information Technology Two-Year Degrees

Information technology as an industry remains an important component of the global economy. Much of what we do uses technology as its foundation. If you are into computers, then consider a degree in networking, programming, digital communications, and computer science.


Education Two-Year Degrees

Do you enjoy working with children? An associate's degree in education can prepare you to work as a teacher's assistant in early childhood, elementary or secondary education. There is room for career advancement and in many districts there is a high need for properly trained education professionals.


Emerging “Green” Technologies Two-Year Degrees

Although in high demand, many community colleges offer associate's degrees in “green” job fields, such as alternative energy sources, including hydroelectric power, solar and wind. Certificate programs are also good options with concentrations in geothermal and energy efficiency technology.


Moving Forward

My advice to you is to take stock of your current situation. Even with financial aid, do you have the resources to attend a four-year college or university? If you do have sufficient resources, then are you certain that a four-year degree is what you want to pursue?

Education is a wonderful, empowering tool that can change your life. Think carefully, do a little reading, and then make a decision that is right for you.