58 Trade school vs. college statistics for 2022

Deciding between a trade school and a traditional 4-year college can be a difficult choice for many students. On the one hand, attending a vocational school can be an excellent option for those who want to get the necessary training to secure a good job quickly. However, choosing a traditional college is also a viable option if you’re looking for a long-term program.

In this article, we’ll go over 57 insightful trade school vs. college statistics in 2022 to help you make the right decision. We’ll also cover the benefits and potential careers of trade school so you can get a better idea of what path is best for you.

Cost is an important factor when deciding your next steps in education. Check out some recent statistics that compare trade school vs. college costs to help you decide what fits your budget.

Average tuition fee statistics

Tuition has been increasing drastically over the years, especially when it comes to 4-year colleges. Check out some of the data we pulled below that covers average tuition rates in 2022:

1. Trade school costs on average between $3,910 to $29,774 for 3–24-month programs, depending on the institution and program type. (U.S. Department of Education College Affordability and Transparency List).
2. The average annual tuition growth rate at public 4-year institutions is 9.4% (Education Data).
3. A 2-year public college education costs an average of $3,501 in tuition a year (Education Data).
4. At public 4-year institutions, the average in-state tuition is $26,027 per year (Education Data).
5. Average tuition at 2-year for-profit private institutions is $15,637 per year, while nonprofit private schools charge $17,735 (Education Data).
6. $38,768 is the average tuition cost of 4-year private nonprofit institutions and for-profit institutions average $14,957 annually (Education Data).
7. 4-year public schools saw an average increase in tuition and fees of 3.3% in 2023 (U.S. Department of Education College Affordability and Transparency List).
8. 4-year private nonprofit schools, meanwhile, saw an average rise in tuition and fees of 4.2% in 2023 (U.S. Department of Education College Affordability and Transparency List).
9. For 2-year public schools, tuition on average rose 3.43% in 2023 (U.S. Department of Education Affordability and Transparency List).
10. 4-year public college costs about $37,600 total over a 4-year period, which is more than double the average cost of trade school at $16,000 (Midwest Technical Institute).

Average total cost of additional expenses

High tuition fees are already a burden. On top of tuition, students should factor in additional expenses such as room, board, onboarding fees, and education materials.

Below you’ll find the average costs of additional expenses at 4-year and 2-year institutions.

1. The annual cost of books and supplies is $226 higher on average at 2-year public colleges than at 4-year ones (Education Data).
2. Additional expenses at 4-year institutions range from $3,304 to $4,551 (Education Data).
3. Students living on campus at a public 4-year institution pay an average of $3,304 in additional expenses (Education Data).
4. On-campus students at private, for-profit 2-year institutions spend an average of $1,026 on additional expenses (Education Data).
5. Students living off campus pay $4,932 on average if they live with non-family members; for students living with family, they pay an average of $5,084 (Education Data).
6. At 2-year institutions, additional expenses average between $3,562 and $4,498 (Education Data).
7. Students living off campus spend $4,551 in additional expenses if they do not live with family members; students living off campus with family spend an average of $4,467 (Education Data).
8. On average, room and board adds $11,950 to college costs (Business Insider).

Total U.S. student loan debt continues to increase every year. As of September 2023, that number lies at $1.74 trillion (Nerd Wallet). These are the key student loan debt statistics to know – including how much student borrowers owe, how long it takes them to pay off their debt, and the types of loans they have.

1. In 2024, there have been about 42 million student borrowers so far (Federal Student Aid).
2. As of March 2024, the average student loan debt is $37,850 per borrower (Federal Student Aid).
3. Trade and technical students finish school with an average of $10,000 in debt (Center for Employment Training).
4. Each year, 30.2% of students borrow money to pay for college (Education Data).
5. As of September 2023, total student loan debt in the U.S. is $1.74 trillion (Nerd Wallet).
6. The most common types of financial aid include scholarships, grants, loans, and work-study (Center for Online Education).
7. Every second, student debt is accrued at roughly $2,858 (Debt.org).
8. The student loan default rate is about 90+ days delinquent and sits at 11.4% (Center for Online Education).
9. Cumulative direct loans reached $101.4 billion in 2020 (Center for Online Education).
10. One out of 10 Americans has defaulted on a student loan (Center for Online Education).
11. Having student debt can impact several areas, including being able to start a business or get married (Debt.org).
12. The average student loan debt growth rate exceeds rising tuition costs by 166.9% (Education Data).
13. To get a bachelor’s degree, the average public university student borrows about $32,637 (Education Data).
14. As of 2024, there are about 37.9 recipients of direct student loans (Federal Student Aid).
15. The District of Columbia has the nation’s highest student loan debt with an average debt of $53,782 per borrower, followed by Maryland, Georgia, Virginia, and Florida (Education Data).

Trade school graduate career statistics

There are many career paths for you to choose from after completing your trade school education. If you’re having trouble with career planning, check out some 2024 job outlook statistics below:

1. The annual mean salary for all trade and technical school careers is $68,480 (Bureau of Labor Statistics).
2. The fastest-growing trade jobs for 2022-2032 include wind turbine service technicians (45%) and solar photovoltaic installers (22%) (BLS).
3. As of May 2023, the median annual wage for health care practitioners and technical occupations is $80,820 (BLS).
4. As of May 2023, in the business and finance sectors, the median annual wage is $79,050 (BLS).
5. Financial analysts are the highest-paid roles in finance and business sectors with a median salary of $99,890 (BLS).
6. Other best-paid jobs in finance and business include personal finance advisors ($99,580), management analysts ($99,410), and project management specialists ($98,580) (BLS).
7. As of May 2023, the median annual wage for IT jobs is $104,420 (BLS).
8. The best-paid jobs in IT include computer and information research scientists ($145,080), computer network architects ($129,840), and computer programmers ($99,700) (BLS).
9. As of May 2023, production workers have a mean annual wage of $41,400 (BLS).
10. In manufacturing, the fastest-growing jobs are industrial machinery mechanics, recycling and reclamation workers, and food batchmakers (Collegeboard).
11. In government and public administration, the fastest-growing jobs are financial examiners, occupational health and safety specialists, and compliance officers (Collegeboard).
12. Customer service representatives and general office clerks make up the largest proportion of office and administrative support positions (BLS).
13. The mean annual wage for agricultural jobs is $45,660 (BLS).
14. The agriculture jobs with the highest employment levels are farm product raw material merchant wholesalers, support for crop production, and local government roles (BLS).

A traditional 4-year college education typically gets you a bachelor’s degree, which often increases your chance of employment. Many employers (depending on your field) are looking for recent graduates with a 4-year degree.

In this section, we’ll explore unemployment and job prospect statistics for bachelor’s degree holders.

1. As of February 2024, the unemployment rate for recent college graduates aged 22 to 27 is 4.7% (Federal Reserve Bank of New York).
2. For the same period, the unemployment rate for all college graduates is 2.2% (Federal Reserve Bank of New York).
3. As of December 2023, 40.3% of recent college graduates were underemployed (Statista).
4. The median salary of petroleum engineers, who typically need a bachelor’s degree, was $135,690 per year as of May 2023 (BLS).
5. Actuaries, who also typically need a bachelor’s degree, earn a median salary of $120,000 (BLS).
6. Nuclear engineering graduates can make a median pay of $120,380 once employed (CollegeGrad).
7. Chemical engineers make a median salary of $112,100 (BLS).
8. Electrical and electronics engineers make a median salary of $109,010 (BLS).
9. Computer hardware engineers make a median salary of $138,080 (BLS).
10. Computer programmers make a median salary of $99,700 (BLS).
11. An aerospace engineer makes a median salary of $130,720 (BLS).

Trade school overview

Now that we’ve covered some trade school vs. college statistics, let’s have an in-depth discussion about vocational schools and review the different career paths available for students.

What are trade schools?

A trade school, or vocational school, is a post-secondary institution designed for students who want to receive hands-on experience to prepare them for a specific career. Trade schools can be public or private, but many are for-profit businesses.

At a trade school, you can get a degree in fields like welding programs, cosmetology, information technology, automotive technician training, nursing and health sciences, and medical assisting. After your 2 years are complete, you receive a trade certificate instead of a bachelor’s degree that proves you successfully finished.

Types of trade schools

There are many different types of trade schools out there, from electrical to cosmetic to culinary. Depending on your interests, there’s a vocational school out there that best suits your needs.

Check out some information about a few of them below:

• Computer Information Systems/IT: Training in computer information systems or information technology (IT) offers students the chance to study topics like cybersecurity, networking, and even game design. Diplomas, certificates, and associate degree programs can prepare students for entry-level careers in IT in 6–24 months.
• HVAC: Heating, ventilation, and air conditioning (HVAC) technicians can train for the job through certificate and associate degree programs, which generally take 1-2 years to finish. Class topics include mechanical refrigeration, heating and cooling theory, and electrical components.
• Cosmetology: Cosmetology trade schools teach students the art of doing makeup, nails, hair, and skincare in about 1-2 years. Students work in licensed, supervised salons with paying customers.
• Criminal Justice: Students can prepare for a career in the criminal justice system by pursuing a two-year associate degree in criminal justice or a 1-year certificate. Students in these programs often study criminology, constitutional law, criminal investigation, and research methods.
• Mechanic/Auto Mechanic: Students enrolled in auto mechanic trade school programs often learn how to service and repair domestic and foreign cars using multimeters, scanners, and other tools. Courses may cover topics such as transmissions, brake systems, and climate control systems.
• Culinary Arts: Through cooking labs, online tutorials, and on-the-job experiences, students can learn the fundamentals of culinary arts. Participants typically study subjects like cooking, baking, purchasing, financial accounting, and sanitation and safety.
• Electrical: Trade schools usually offer specialized 2-year associate degree programs or 1-year basic electricity technician certificate programs that teach students about direct and alternating current circuits.

Benefits of trade school

Trade school helps someone with no experience gain the initial education they need to be competitive in the job market and may also provide opportunities for career advancement. The biggest benefit of trade school compared to a traditional 4-year college is lower cost — this can be a determining factor for many students who struggle financially.

Other benefits of trade school include:

• faster graduation timeline
• fewer admission requirements
• small class sizes
• real-world experience
• job assistance
• preparation in-demand, high-paying careers

If you’re looking for an education program that offers the above, then trade school might be the best option for you.

Should you go to trade school or college?

Trade school is a great option for those who struggle with finances, are strapped for time, or are looking for a quick way to learn the technical skills of an occupation. To recap, here are some questions to consider when weighing your options:

• What are you passionate about?
• Are you on a tight timeline to get out of school and into the workforce?
• Do you have a restricted budget?
• Do you qualify for any grants or financial aid?
• Does the potential program align with your future goals?

Whether you want to be a mechanic, cosmetologist, or administrative assistant, you may benefit more from completing a trade school program than going to a 4-year college. It can provide the hands-on experience that you’re looking for, while jump-starting your career at a much faster pace.

Your options are endless

At the end of the day, the educational path you choose is yours and yours alone. Thinking about your ideal future and aspirations can help you pinpoint what’s most important to you and what it takes to get there. If decision fatigue is hitting, help with choosing college programs that are right for you and your goals are just a click away.