The Changing Value Proposition of College

For decades, earning a college degree has been considered the gold standard of success, a near-certain ticket to financial security and upward mobility. But as tuition costs soar and wages stagnate for many graduates, a question looms larger than ever: Is college still worth it?

A generation ago, the equation was simple. A four-year degree opened doors to stable, well-paying careers, justifying the investment of time and money. Today, however, the calculus has changed. The return on investment (ROI) of a college education is now in direct competition with skilled trades, technical degrees, and alternative education paths that promise quicker workforce entry, lower costs, and—sometimes—higher lifetime earnings.

The Price of Higher Education

The rising cost of a college education has been staggering. According to data from the National Center for Education Statistics, the average annual tuition and fees for a four-year degree at a public university now stand at $11,610 for in-state students and $30,780 for out-of-state students. Private universities demand an even steeper price, averaging $43,350 per year. Over four years, this translates to total tuition costs ranging from approximately $46,440 at public institutions to over $173,400 at private colleges. And this doesn’t include expenses such as housing, food, and books—let alone interest on student loans.

For many students, these costs are financed through loans that can take decades to repay. The burden of student debt weighs heavily on graduates, many of whom struggle to find jobs that justify their investment. The debt-to-earnings ratio for some degrees, particularly in the liberal arts, raises the question: Are there better options?

A Look at the Alternatives

For those pursuing careers in the skilled trades: such as electricians, plumbers, welders, and HVAC technicians, the financial outlook tells a different story. Trade schools and apprenticeships typically cost between $5,000 and $20,000, and many offer paid on-the-job training, allowing students to earn while they learn. By the time a traditional college student earns a degree, a skilled tradesperson may already be five years into their career, earning a stable income.

Salaries in these fields are also competitive. According to the Bureau of Labor Statistics, the median annual wage for electricians is approximately $61,000, while plumbers and HVAC technicians earn around $60,000. Those who move into specialized or unionized positions can see their earnings exceed $80,000 to $100,000 per year with far less debt than their college-educated peers.

Technical Degrees: A Worthy Investment?

Certain technical degrees, particularly in STEM fields, still offer strong financial incentives. Engineering, computer science, and healthcare degrees frequently lead to six-figure salaries within a decade. A computer science graduate, for example, may start at $70,000 and see earnings exceed $120,000 mid-career. In these cases, the long-term payoff can outweigh the initial costs of a degree, provided graduates secure jobs in high-demand fields.

However, not all degrees provide the same financial security. Liberal arts and humanities majors face lower starting salaries, often ranging from $35,000 to $45,000. Even mid-career, their earnings may struggle to match those of skilled tradespeople, especially after factoring in student debt.

The Stability of Skilled Trades

Beyond immediate earnings, another advantage of the skilled trades is job stability. Many blue-collar careers are insulated from economic downturns and automation in ways that white-collar jobs are not. An electrician’s job cannot be outsourced to another country, nor can a plumber’s role be replaced by artificial intelligence. Furthermore, unionized trade workers enjoy strong job protections, pensions, and healthcare benefits—perks that many white-collar professionals no longer take for granted.

Rethinking the College Narrative

None of this is to suggest that college is obsolete. For those pursuing careers in medicine, law, or academia, higher education remains a necessity. But for others—especially those drawn to hands-on work—the skilled trades offer a financially sound, stable, and fulfilling alternative.

In an era when Americans owe more than $1.7 trillion in student debt, it may be time to rethink our cultural fixation on the four-year degree. The question is no longer simply should you go to college? but rather what is the best educational and career path for you? In many cases, the answer may lie outside the ivory tower.