US News: Even college grads might want to consider blue-collar careers [View All]

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Last year, because U.S. News readers tend to be college educated, we included only careers that typically require at least a bachelor's degree. This year we've added four careers that don't. Why? More and more students are graduating from college at the same time that employers are offshoring more professional jobs. So, many holders of a bachelor's degree are having trouble finding jobs that require college-graduate skills. Meanwhile, society has been telling high school students that college is the way, so there's an accelerating shortage of skilled people in jobs that don't require college. (Why else do you think you have to pay $100 an hour for a plumber?)

U.S. News

Older Forbes article:

Five Reasons To Skip College

College is expensive. Four years at an elite university like Princeton or Harvard will set you back around $160,000.

That’s a lot of money, but consider the benefits: The professors, the coursework, the people you’ll meet and the invaluable experiences you’ll have. And, of course, the bottom line: You’ll earn more money afterward. In fact, on average, the holder of a four-year college degree will earn 62% more over their lifetimes than a typical high-school graduate. And that’s just on average. The return on investment for attending one of the nation’s 25 or so most selective colleges is far more impressive. Money well spent, right?

Well, not necessarily.

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Economists like Robert Reischauer ruffled feathers several years ago by pointing out that talented, driven kids are more likely to go to college in the first place--that they succeed, in other words, because of their innate abilities, not because of their formal education.

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College-skippers could invest the $144,000 savings and have a nice nest-egg built up by the time they are in their mid-30s. And they could use their formative years between 18 and 22 to learn an actual trade.

The reasons:

1. You'll be losing four working years.

There's an opportunity cost associated with going to college: Not only will you lose the money you'll have spent on tuition, you'll also be out the amount of money that you could have made if you'd worked during those four years. And if your family isn't wealthy enough to pay for your education on their own, you'll also owe a hefty amount in interest payments for your student loans. Perhaps more importantly, with four years of experience on your resume, you’ll be far better off when looking for work than the average 22-year-old college graduate.

2. You won't necessarily earn less money.
College grads earn an average 62% more over the course of their careers than high school grads. But economist Robert Reischauer of the Brookings Institution in Washington, D.C., argues that those numbers are skewed by the fact that smarter kids are more likely to go to college in the first place. In other words, the profitability of higher education is a self-fulfilling prophecy.

3. In fact, you could probably make more money if you invested your tuition.
Put $160,000--the approximate cost of a Harvard education--into municipal bonds that pay a conservative 5%, and you'll have saved more than $500,000 in 30 years. That's far more than the average college grad will accumulate in the same amount of time.

4. You don't need to be in a classroom in order to learn something.
Truly motivated learners can teach themselves almost anything with a couple of books and an Internet connection. Want to learn a hands-on skill or trade? Consider an apprenticeship.

5. Plenty of other people did fine
Bill Gates, Larry Ellison, Quentin Tarantino, David Geffen, and Thomas Edison, among others, never graduated from college. Peter Jennings and John D. Rockefeller never finished high school.

Forbes