Every teen’s journey after high school is unique, and choosing the right path can feel overwhelming. As an educator or parent, you understand how important it is for teens to think carefully about their futures. Whether they’re considering college, entering the workforce, pursuing an apprenticeship, or joining the military, each path has its advantages. But how do you help them make an informed choice that aligns with their goals and financial realities? Money Path is a powerful tool that helps students explore these options with confidence, providing a financial roadmap to help them understand the long-term impact of each decision. Let’s take a look at four post-high school paths and the benefits of each.
1. The college path: Expanding opportunities
College remains a popular option for many teens, providing both academic growth and long-term career benefits. Here’s why this path might be the right fit:
- Broader career options: Many careers, especially those in fields like engineering, medicine, and education, require a bachelor’s degree or higher. Attending college can open doors to a wider range of job opportunities.
- Higher earning potential: Studies show that college graduates generally earn more over their lifetimes compared to those without a degree. If students are aiming for a long-term financial advantage, a college degree can provide a strong foundation.
- Personal growth: College offers more than just academics. It’s a time to explore new interests, gain independence, and build valuable connections with peers and professors.
2. The workforce path: Immediate earnings
For some students, the idea of entering the workforce right after high school is appealing, especially if they want to start earning money sooner rather than later. Here’s why this could be a good fit:
- Immediate income: Going straight into the workforce allows teens to earn a salary without the cost and time commitment of attending college. This can be especially beneficial for those who are eager to gain financial independence.
- Hands-on experience: Many industries value experience just as much as education. Entering the workforce early can give teens a competitive edge by allowing them to gain on-the-job experience, build their resumes, and network with professionals in their field.
- Avoiding student debt: By going directly into the workforce, teens can avoid accumulating student loans, allowing them to focus on saving and investing their earnings early.
3. The apprenticeship path: Earn while you learn
For students interested in hands-on work and a structured learning environment, an apprenticeship can be the perfect blend of education and employment. According to the Department of Workforce Development, Wisconsin employers annually train approximately 10,000 registered apprentices in about 200 occupations from construction and manufacturing to healthcare and information technology. The occupation areas are: Agriculture, Construction, Finance, Healthcare, Industrial & Manufacturing, Information Technology, Service, Transportation, and Utilities. Here’s what makes this path stand out:
- Paid training: Unlike traditional education, apprenticeships offer the opportunity to earn a paycheck while learning a trade. This allows students to gain valuable skills without the financial burden of tuition.
- Job security: Many apprenticeship programs are designed to lead directly to a full-time job upon completion. Industries like construction, manufacturing, and healthcare often offer apprenticeships with strong job placement rates.
- High demand for skilled trades: Skilled trades such as electricians, plumbers, and technicians are in high demand, and many of these careers offer excellent salaries and job stability.
4. The military path: Service and benefits
Joining the military provides students with career training, financial stability, and opportunities for personal growth, while also offering education benefits like the GI Bill.
- Educational benefits: The military offers extensive educational benefits, including the GI Bill, which covers tuition and provides financial support for college after service. This allows students to pursue higher education without accumulating debt.
- Career training: The military provides specialized training in a variety of fields, from engineering to healthcare to technology. Students gain valuable skills that can translate into civilian jobs after their service.
- Stable income and benefits: The military provides a stable salary, healthcare benefits, housing, and retirement plans, providing financial security while serving.
How Money Path Supports Every Path
Money Path equips students with the ability to compare all four of these options side-by-side. Whether they’re planning for college costs, calculating potential earnings in the workforce, including starting salaries, exploring apprenticeship opportunities, or weighing the benefits of military service, Money Path helps students and their families make informed, confident decisions. It’s the tool that empowers them to plan for both their financial and career success, regardless of which path they choose and it’s free to all Wisconsin high schools. Contact us for more information about how to get Money Path into your high school.