College vs. Trade School: A Look at Costs, Careers, and When You’ll Get the Debt Monkey Off of Your Back
Choosing between college and trade school is a tough choice. If your finances are unlimited, follow your heart, but if you are like the rest of us, you need to maximize your options. I’m not saying one is perfect over the other, but honestly, the choice will determine ramifications for the rest of your life. It is a big deal, and a very personal decision. However, both paths can lead to a very fulfilling and financially rewarding career. Below, I review some of the puts and takes of each option and give you an idea what type of debt burden you will accrue, and how quickly your chosen career will pay it off. Here’s an off-the-cuff comparison based on data from top careers in both camps.
Cost of Education
Let’s kick things off with money. Generally speaking, the word “education” ends up costing a whole lot more at a college. College students aiming for careers in fields like medicine, law or engineering usually deal with loan debts that range from a modest $23,000 in engineering up to an eye-watering sum—over $243,000 for physicians. And don’t even get me started on those fancy advanced degrees like a DMD or a JD that conveniently stack on six-figure debts.
| Career | Median Salary | Average Student Loan Debt | Payoff Time (Years) |
| Veterinarian | $139,999.00 | $179,505.00 | 8.5 |
| Physician (Surgeon) | $225,000.00 | $215,900.00 | 6.4 |
| Dentist | $167,711.00 | $296,500.00 | 11.8 |
| Pharmacist | $125,000.00 | $167,711.00 | 8.9 |
| Nurse Practitioner | $129,480.00 | $47,500.00 | 2.4 |
| Software Developer | $130,160.00 | $36,140.00 | 1.9 |
| Civil Engineer | $95,490.00 | $24,035.00 | 1.7 |
| Biomedical Engineer | $101,020.00 | $23,875.00 | 1.6 |
| Chemical Engineer | $121,840.00 | $24,709.00 | 1.4 |
| Attorney | $145,168.00 | $160,000.00 | 7.3 |
| Registered Nurse (RN) | $86,070.00 | $28,917.00 | 2.2 |
| Industrial-Organizational Psychologist | $129,690.00 | $27,911.00 | 1.4 |
| Radiologist | $385,116.00 | $243,483.00 | 4.2 |
| Architect | $80,000.00 | $40,000.00 | 3.3 |
| Veterinary Technician | $45,460.00 | $23,302.00 | 3.4 |
| Data Scientist | $108,000.00 | $30,500.00 | 1.9 |
| Finance Manager | $150,000.00 | $105,500.00 | 4.7 |
| Teacher/Education Professional | $55,800.00 | $28,001.00 | 3.3 |
| Mechanical Engineer | $64,682.00 | $23,000.00 | 2.4 |
However, trade school attendance is way more affordable, although it comes in some cases with lower earning potential. Another benefit with the trades is that you enter the workforce much more quickly.
The typical program lasts just a year or two, and many options allow you to work and earn while you learn your craft. Basically, trade schools can be a financially easier path and skip pilling on a mountain of debt.
| Career | Median Salary | Average Debt | Payoff Time (Years) |
| Electrician | $75,000.00 | $15,000.00 | 1.3 |
| Plumber | $70,000.00 | $12,000.00 | 1.1 |
| HVAC Technician | $65,000.00 | $10,000.00 | 1.0 |
| Welder | $60,000.00 | $8,000.00 | 0.9 |
| Carpenter | $55,000.00 | $7,000.00 | 0.8 |
| Heavy Equipment Operator | $80,000.00 | $20,000.00 | 1.7 |
| Mason | $60,000.00 | $9,000.00 | 1.0 |
| Aircraft Mechanic | $75,000.00 | $25,000.00 | 2.2 |
| Solar Panel Installer | $69,000.00 | $11,000.00 | 1.1 |
| Wind Turbine Technician | $58,000.00 | $10,000.00 | 1.1 |
| Tool and Die Maker | $61,000.00 | $12,000.00 | 1.3 |
| Construction Manager | $115,000.00 | $30,000.00 | 1.7 |
| Cable Technician | $70,000.00 | $15,000.00 | 1.4 |
| Industrial Mechanic | $69,000.00 | $14,000.00 | 1.4 |
| Licensed Practical Nurse | $59,000.00 | $10,000.00 | 1.1 |
| Respiratory Therapist | $104,000.00 | $20,000.00 | 1.3 |
| Ultrasonographer | $131,000.00 | $25,000.00 | 1.3 |
| Real Estate Appraiser | $64,000.00 | $12,000.00 | 1.2 |
| Diesel Mechanic | $65,000.00 | $15,000.00 | 1.5 |
| Bricklayer | $60,000.00 | $8,000.00 | 0.9 |
| Pipefitter | $70,000.00 | $15,000.00 | 1.4 |
| Elevator Mechanic | $78,000.00 | $20,000.00 | 1.7 |
| Medical Assistant | $45,000.00 | $5,000.00 | 0.7 |
| Home Health Aide | $30,000.00 | $3,000.00 | 0.7 |
| Automotive Technician | $60,000.00 | $10,000.00 | 1.1 |
Payoff Times
Every buck counts, and how fast you can clear your student loans really depends on your paycheck and your payment game plan. However, you still have to deal with the reality of things like rent, food, and life.
A reasonable approach to curing your debt has been reflected in all cases which is dedicating 15% of your earned compensation and applying it to your debt. Even grads in high-paying gigs like radiology or psychiatry take a significant amount of time to payoff their debt; radiologists, earning roughly $385,116 a year, might clear a $243,483 debt in just over four years if they earmark around 15% of their income (sounds like a tight squeeze, but hey, it works for them).
I’ve noticed, though, that dentists with debts nearing $296,500 might need nearly 12 years to get there—yikes. In contrast, someone who picks the trade route—say, an electrician pulling in about $75,000 a year—might pay off their $15,000 debt in barely over a year. Even HVAC techs with around $65,000 in earnings can wrap up a $10,000 debt pretty quickly.
Earning Potential
it is obviously that many college degrees are a ticket to great earning power—think physicians at around $225,000, software developers making about $130,160, or even attorneys bringing home roughly $145,168.
However, you need to bear in mind that the graduation rate is not 100%. Whether you complete the degree or not, you are still saddled a substantial debt burden. The risk is that these careers are challenging to complete is very real, and so is the financial obligation the education cost creates.
On the flip side, trades aren’t exactly short on their own charm when it comes to earning potential. Construction managers pulling in around $115,000, elevator mechanics at about $78,000, and aircraft mechanics earning near $75,000 prove that you don’t always need four years of college to make it rain. And, there’s even buzz around renewable energy jobs like wind turbine techs (roughly $58,000 but growing fast). Don’t overlook the trades when assessing your career paths.
Demand and Job Security
Both college careers and trade roles tend to have their own kind of job security—just in different flavors. In one sense, careers in healthcare and tech (yes, I’m talking about physicians, nurses, data scientists, and software developers) keep showing steady demand, especially as the population ages and our world gets more digital.
Electricians, plumbers, HVAC techs have a very practical nature to their demand. Pipes break, sinks clog, and HVAC systems need repair and maintenance. These careers are also tied to the ever expanding housing market. So, in a very practical way the trades have their own continuous source of dem.
Flexibility and Time Investment
Finally, consider how long you’re locked into schooling. A traditional college education usually takes about four years for a bachelor’s degree and then, well, anywhere from another couple of years to nearly a decade for advanced studies—depending on your field of choice.
Trade schools really offer a refreshing twist—many of these programs finish in one to two years which means you can jump into work life and launch your earning capacity way sooner.
Conclusion
College might be your ticket to landing ridiculously well-paid gigs, though it often means shouldering a mountain of student loans. On the flip side, trade schools get you into the workforce faster—with way less debt—and still set you up for solid earnings.
Personally, I lean toward the idea that if you can get by with a shorter, more affordable education without sacrificing too much on the money side, it’s a win—especially when you factor in the job security that trades bring, even during a bumpy economy. Trade programs might wrap up in just a couple of years. Both routes can lead to solid, fulfilling careers and support a great lifestyle. Now its time to get to work.