Do you have to go to college to be successful?

Decades ago, getting a college degree was perceived to be the only route to a successful career. With tuition that was only a few thousand per year, you could further your education and increase your chances of landing high-paying jobs. However, that is no longer true.

The average cost of college in the United States is around $38,270 per year(opens new window), including books, fees, and living expenses. To put that into perspective, the average cost of a public four-year school from 1989 to 1990(opens new window) was $4,975. Even adjusted for inflation, the growth rate for tuition costs is so astronomical that it has outpaced what most can afford. It also outpaces the rate of inflation by 171.5%(opens new window).

Cost is a major factor giving young people pause, but it’s not the only one. They are also considering whether the burden of student debt and losing time out of the workforce is worth it.

If you’re wondering if you have to go to college to be successful, you aren’t alone. Is a college education necessary for your future success?

In this article, we’ll share factors to help you decide if a college education is right for you and alternatives to consider.

If you're wondering if college is necessary to have a successful career, the first thing to understand is that it depends on your unique goals. But as technology rapidly changes and many companies struggle to fill roles(opens new window) calling for the most in-demand skills, much of the context around hiring credentials has changed. In many cases, you don't need a Bachelor’s degree to succeed in a great career.

Some people will tell you that the only way to succeed after high school is to go to college and get a Bachelor's degree. In reality, college is not for everyone and doesn't guarantee success. Here are some reasons why it might not be the right fit.

As mentioned, college is expensive, and tuition costs are rising. At its high cost, it's no longer the investment it was decades ago. People can't afford it.

A U.S. News report(opens new window) shows that college tuition costs have been on an upward trend for the last 20 years. In-state tuition and fees have grown the most, at a rate of 158%. Out-of-state costs have increased by 127%, and private tuition and fees by 132%.

But the yearly costs are only part of a larger problem — the student debt crisis. Currently, combined student debt amounts to over $1.72 trillion(opens new window). For most middle to lower-class students to go to college in the U.S., they must get a loan. At one time, Federal Pell Grants(opens new window) — which cap at $7,395 in 2023-2024 — could cover about 80% of tuition. Now, they barely cover 30%.

According to the Education Data Initiative(opens new window), 64% of students pursuing a bachelor’s degree at a public college have student loan debt. At private for-profit colleges, 84% of students have student loan debt.

Additionally, the average student loan debt for bachelor’s graduates is:

On top of tuition, you also need to consider lost time and income. As a college student, you spend two to four years not working in your chosen field. You're not making money or gaining valuable work experience that even entry-level positions seem to require.

According to the Education Data Initiative(opens new window), the price of a Bachelor’s degree is much higher when you factor in the years of lost income. When you consider lost income and student loan interest, the true cost can exceed $500,000. Starting your career already hundreds of thousands of dollars in debt is daunting.

College graduates hope to chip away at their debt by landing a high-salary position. Yet, going to college doesn't guarantee you'll land a job, let alone a high-paying one. There was a time when earning a four year degree could give you a competitive edge. Again, times have changed.

Many recent college graduates struggle to get a job. In a 2022 study(opens new window), recent graduates submitted over 300 job applications for entry-level positions. Over 90% of these applications got zero responses. Only 2% had interviews, and none led to a job offer. Why are college graduates struggling to get hired?

One reason may be that the in-demand skills companies need are not what students study. According to Springboard’s The State of the Workforce Skills Gap 2024(opens new window), companies most desire these skills:

However, 70% of corporate leaders report that their organization has a critical skills gap. Additionally, 59% struggle to find qualified employees to hire.

Another reason is that graduates don’t have on-the-job experience. According to the U.S. Bureau of Labor Statistics(opens new window), approximately 50% of jobs require prior experience. On average, employers expect workers to have 1,021 days of previous experience. But, how can you have on-the-job experience at a traditional college?

Internships may help, but many are unpaid, and some employers don’t consider them work experience. This is why Multiverse apprenticeship programs combine learning with paid, on-the-job placements. Companies pay apprentices to work during the program so they gain experience in their field while learning.

Some professions – like doctors, lawyers, nurses, and teachers – require strict education requirements to enter the workforce. But many other fields don't require college degrees. It's largely up to employers to determine what education their employees need for a role.

Many companies, especially those in tech, are easing up on or eliminating degree requirements(opens new window). The federal government has also removed degree requirements from technical IT roles(opens new window). Fields like software engineering and data science have a talent gap. The demand for skilled candidates is larger than the supply.

To widen the talent pool, companies are considering candidates who can demonstrate their experience and skills — regardless of degree.

Some sample job titles that don’t necessarily require college degrees include:

You don’t need a Bachelor’s degree to be successful. In fact, some of the successful p(opens new window)rofessionals and entrepreneurs of the last 50 years don’t have a college degree, including:

Despite not adhering to the traditional career path, these visionaries built their own companies — proving college isn’t a hard and fast requirement for success.

Although college isn’t necessary for success, you still need to further your education and build skills. Luckily, there are many alternatives out there.

Here are a few ways to gain the skills you need for a career without a traditional college experience.

Furthering your education and gaining new skills contribute to your success. However, college isn’t the only way to learn skills or land a job. In many cases, it may not even be your best option.

So, do you have to go to college to be successful? Ultimately, no. You can be successful without a degree.

For most positions, companies want to hire candidates with the right skills. You don't need to go to college to acquire those. One way to develop your skills and land a job is by applying for a Multiverse apprenticeship program.

Multiverse apprenticeships combine rigorous education with hands-on training. Apprentices complete a series of in-depth modules that cover foundational concepts in their fields. For example, Advanced Analytics apprentices learn data visualization, predictive analytics, and Python. Software Engineering apprentices study full-stack development and learn two or more programming languages.

Apprentices apply and expand their skills while working for top employers. Most importantly, they get paid to complete real projects under the guidance of industry professionals. This practical experience gives apprentices a head start on the competitive job market and provides valuable networking opportunities.

Additionally, all apprentices receive individual career coaching. Your coach will help you assess your career goals and identify relevant job opportunities. They’ll also assist with interview and resume preparation.

Many Multiverse alums have launched successful careers in tech and other industries. For example, Shafee joined the Software Engineering program after dropping out of high school and college. As he recounts, “For me, an apprenticeship provided an environment to learn, apply what I learned in real time, make mistakes, grow, and shadow people way better than me at my craft (and get paid in the process).”

You don’t need to attend college to achieve your career goals. A Multiverse apprenticeship can help you gain the skills and practical experience you need to succeed – without racking up life-changing debt.

Multiverse's apprenticeships don't charge a tuition fee. Instead, apprentices get paid to learn coding, data analytics, digital business acumen, and other in-demand skills. They also get personalized mentorship and access to our global alumni network.

You can easily apply for a paid apprenticeship here(opens new window). The Multiverse team will get in touch to discuss the next steps..