Re:US college enrollments are falling, except for graduate d...
by rchaud on Tuesday September 29, 2020 @01:11PM
(#24630335)
Increasingly that expectation appears to be built on some very shaky assumptions regarding lifetime income.
This is anecdotal, but a blue-collar acquaintance who studied for a 3-year power plant safety program purchased a detached home a full 7-10 years before his peers who went to university for four-year degrees. There wasn't much parental assistance involved in the home purchase.
Being able to make enough to cover a mortgage and sock some money away in an investment account can give you a financial boost that compounds over time. If you live in an expensive housing area, that boost could end up exceeding what white-collar grads net out to, 15-20 years later.
This is anecdotal, but a blue-collar acquaintance who studied for a 3-year power plant safety program purchased a detached home a full 7-10 years before his peers who went to university for four-year degrees. There wasn't much parental assistance involved in the home purchase.
Being able to make enough to cover a mortgage and sock some money away in an investment account can give you a financial boost that compounds over time. If you live in an expensive housing area, that boost could end up exceeding what white-collar grads net out to, 15-20 years later.