TALiNT Partners Insights provides invaluable information that enables businesses to make informed, strategic decisions. Our curated insights are your tools for problem-solving, fostering growth, and achieving success within talent acquisition and staffing.

Apprenticeship programs becoming more popular alternative to college

Table of Contents

Information

Categories

Author

Young adults are rethinking the value of college 

Amid the heightened demand for workers, rising cost of tuition and growing student loan burden, more would-be students are choosing career-connected pathways over four-year colleges, according to recent reports. 

As enrollment falls, alternatives such as apprenticeship programs are quietly gaining steam, particularly for families anticipating the sticker shock of a college education, which currently averages around $53,430, including tuition, fees and room and board, at private colleges and $40,550 at public colleges for the 2022-23 school year, according to the College Board. 

Hafeez Lakhani, Founder and President of Lakhani Coaching in New York commented: “We are a societal turning point. People at the margin are saying ‘I don’t know if I can wait four years to make a living.’” 

Some experts say the value of a bachelor’s degree is fading and more emphasis should be directed toward career training. A growing number of companies, including many in tech, are also dropping degree requirements for many middle-skill and even higher-skill roles. 

However, earning a degree is almost always worthwhile, according to “The College Payoff,” a report from the Georgetown University Center on Education and the Workforce. 

Bachelor’s degree holders generally earn 84% more than those with just a high school diploma, the report said — and the higher the level of educational attainment, the larger the payoff. 

Apprenticeships are on the rise 

In an apprenticeship program, a company generally trains a student in one skill for a specific field. That often leads to a job, sidestepping the traditional college path — and costs. 

Over a decade, the number of registered apprentices rose 64%, according to the latest data from the U.S. Department of Labor.

Share

Target Recruit MPU
deel new banner