Credentials Can Help with College Costs

A recent article highlights the growing financial burden students and families take on in order for students to earn a college degree.

According to the Value of Education survey conducted by HSBC, students are working more hours and spending less time in “lectures, the library or studying at home” in order to pay for higher education. One way to reduce the cost is for students to earn college credit before arriving on campus. Early college and dual enrollment programs, offered in some high schools in Massachusetts, provide this opportunity.

One other option available in a few but growing number of states is providing students an opportunity to earn an industry-recognized credential in high school that also earns them college credit. Students can take these credentials and continue onto higher education, take their skills into the workplace or secure a higher wage position while working and attending college, allowing them to work fewer hours.

In Florida, which was the first state to implement a credential program like this, students and families saved an estimated $9.2million in college tuition and fees since the program began in 2008.

MBAE’s Credentials for Success initiative seeks to replicate this success in Massachusetts. Enabling students to earn the industry-recognized credential in high school provides them multiple pathways to success. If they choose college, it can lessen the debt burden.

Learn more about industry-recognized credentials and MBAE’s proposal for Massachusetts here.