The rising cost of higher education has become a pressing issue for students and families across the United States. Mike Feinberg, co-founder of the WorkTexas secondary and post-secondary program, sheds light on how educational debt shapes the futures of young Americans.
In the past decade, college tuition has skyrocketed by over 25%, making it increasingly difficult for students to pursue higher education without incurring significant debt. As of the 2022-23 academic year, the average cost of obtaining a bachelor’s degree from an in-state public institution stood at a staggering $89,556, according to the Education Data Initiative.
Feinberg notes that the financial burden of student loans can take nearly two decades to repay. A Bankrate survey revealed that 56% of Americans believe higher education costs are out of control, with 32% labeling student loan debt a national crisis. This financial strain is causing many to reconsider the traditional path of attending a four-year college.
“We had this mentality in the ’90s—go to college; figure out what you want to do; if you’ve got to take out a loan, it’s like a car loan,” Feinberg explains. “Now, it’s more like a home mortgage.”
As a result, many high school students are looking at alternative educational pathways. A study from The Bill & Melinda Gates Foundation found that a significant number of students view courses for licenses or professional certificates more favorably than traditional college degrees.
WorkTexas, a program launched in 2020, offers skill-based instruction to high school students and adults. Participants can learn trades such as welding, carpentry, and HVAC maintenance, often at no cost thanks to grants and other funding. Feinberg highlights that the program not only provides training but also seeks to maintain long-term relationships with its graduates.
“We make a commitment to help them, not just get the job,” Feinberg says. “We’re interested in what that looks like, in terms of career contentment and creating sustainable lives for themselves and their families.”
As the cost of college continues to rise, Feinberg expects more students to consider programs like WorkTexas. He emphasizes the importance of exploring all educational options to find the best value for one’s investment.