Even young adults considering career choices should be thinking about how to increase their future retirement income. The greater the salary you make, the more you can put away toward retirement more quickly. While there are many career options that pay well yet don’t require a college degree, there are many other well-paying careers that do require a four-year (or more) degree. And even if you choose self-employment or a no-degree-required career, taking basic coursework for a couple of years is always beneficial.
If the rising costs of education are tempting you to make a living flipping hamburgers or driving trucks, remember that there are plenty of financial aid options. You can pay as you go, apply for state grants and scholarships, participate in work-study programs, and/or take out loans.
With loans, you want to stick with an amount you are fairly certain you will be able to pay off within a few years, and to stick with federal student loans. Unlike bank loans, the interest rate on federal loans is low, and you don’t have to begin immediate payback on the loan.
If you know a young person who is just beginning to think about college and careers, make sure they count the cost, and take all financial aid options into careful consideration. The following infographic can be a great help.
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