Degree vs Credential: The Cost

This panel is not an argument against college. It is a comparison of costs and time, so that a student can choose with open eyes.

Tuition and fees

The College Board's Trends in College Pricing reports average published tuition and fees for 2024–25 of roughly $11,600 per year at public four-year institutions (in-state) and about $4,000 at public two-year colleges. Private nonprofit four-year colleges average far more. Grants and scholarships reduce what many students actually pay.

The hidden costs

Housing, food, transport and books often exceed tuition. The largest hidden cost is time: years in school are years without full-time earnings. Borrowed money adds interest.

Apprenticeship

Registered apprenticeships combine paid on-the-job training with related classroom instruction. Apprentices earn while they learn, usually starting at a percentage of the journeyworker wage and rising as they progress (see Earn While You Learn). Many apprenticeships leave the apprentice with little or no debt.

Lifetime earnings

On average, bachelor's degree holders earn more over a lifetime than workers with only a high-school diploma. But averages hide wide variation by field and occupation: some credentialed trades out-earn many degree holders, and some degrees lead to high earnings. The best comparison is between specific paths.

VoTechWorks tuition

During the testing period, VoTechWorks tuition is free. The Tuition page lists each program's course prices, kit costs and exam fees so students can compare.

Sources

College Board, Trends in College Pricing 2024; U.S. Department of Labor, Apprenticeship.gov; BLS education and earnings data.