What happens after high school? Know your child's options

Though high school graduation can seem like an endpoint, every new grad walking across that stage—and their parents—knows that this is the start of a brand-new life phase. What happens next can have a major impact on your child’s long-term career prospects, and the breadth of options can feel overwhelming, emotionally and financially.

But understanding the nuances of your major choices can help. Evaluating paths that might be right for your child will assist the whole family in anticipating what’s next, reducing the stress about what happens after high school. Here are some factors to consider when making the decision.

In 2022, full-time workers ages 25 to 34 with a bachelor’s degree made about $66,000 annually, according to the National Center for Education Statistics. People who stopped schooling after high school averaged about $41,800 each year. Over a lifetime, this difference in salary can add up to more than $1 million dollars.

But that doesn’t mean a four-year degree is the default option for everyone. Instead, evaluate whether college will provide the academic starting point needed for a chosen career path. Have your child think about goals, personal strengths and weaknesses, and level of motivation.

If your child is unsure about a potential career path, a two-year college may be a wise option. It can help your child build valuable study skills if they decide to switch to a four-year college, or prepare them for certain professions that require a two-year degree, such as nursing.

When thinking about college options, dig deep into financial assistance resources. Tuition costs can cause sticker shock during initial college searches—and fears about college debt can leave families wondering if it’s worth the cost. But many kids are eligible for financial help, including low-interest student loans and federal aid.

The U.S. often experiences shortages of skilled workers, which can push wages higher in trades like construction, carpentry, electrical, plumbing, vehicle repair, healthcare, and many others.

Unlike college degrees that might take years to achieve—and put a student into debt at graduation—vocational training programs are often shorter, and graduates can earn a robust paycheck relatively quickly. Another factor in favor of vocational training is job placement. In many trades, there are more openings than candidates to fill them. 

As older employees retire, it’s estimated that the gap between job opportunities and available skilled workers will keep growing—a situation that’s likely to keep wages trending upward for those with vocational training. If your child gravitates toward hands-on learning and shows an interest in a trade, it could be a wise option to consider for a future career.

For those who thrive on structure and physical activity, military service may be a good fit, especially since service in the armed forces can lead to a specialized job or college-level education.

Also, the military’s tuition assistance programs have been a valuable resource for many looking to pursue an education without incurring additional debt. For example, the GI Bill could pay for 100 percent of tuition at in-state public colleges, depending on how long you served.

Your child could also consider a military academy, which are colleges run by the United States military. Students don't pay any tuition but receive military benefits and even get a salary.

As you and your child evaluate what feels right, keep in mind that each of these options can be a launching pad, not a final destination. For example, military service can lead to a college degree, or your child might learn a trade and then join the military in a few years.

Some new high school grads decide to take a “gap year” before making a decision, spending that time to travel, do community service, or work full time to save more funds for college or vocational school.

Look at what seems like the best fit for right now, with an understanding that other options will always be there as future possibilities.