And here is the truth…
College can be expensive, and it will never give you real world experience, unless of course you are in a trade school and you have hands-on classes.
Everything I needed to know to run my business came from my agriculture class in high school.
That’s right! I don’t attribute all my AP (advanced placement) classes to my business success. It was my animal science class that taught me what it means to be a true entrepreneur.
I’m telling all of you above-average, high GPA chasers to just stop.
You are wasting valuable time and energy on spitting out facts and figures, and you need to be spending MORE TIME on figuring out what you are passionate about and nurture that.
My business paid for college classes I loved
Many people I talk to tell me they got a degree in one thing, and their job is in something completely different. And usually this happens because we go to school thinking we need to major in something practical that will get us a “good job” someday.
And many people buy into the message that if you go to college, you will make more money, and this will make you happy.
Okay, if your definition of happy is to spin around in a rat wheel day in and day out.
And yes, I get it. There are many people out there who have no clue what they want to be when they grow up, so this is why they go to college. Okay, so then go to community college PART-TIME and with the rest of your time, nurture your passions.
It is possible you know… to love what you do. I’ve done it. Doing it now, and a lot of other people are doing it too.
The truth about how my business paid for college
1. Going to college can put you into debt-
According to College Board, the yearly tuition for a private four year college is $32,410. A state school can run $9,410.
I ended up going to a state school because I fell in love with their animal science program. I got accepted to many other schools around the country, but opted for staying closer to home. It seemed like a good compromise at the time to be able to pursue something I loved and not break the bank going to college.
I can’t imagine if I had chosen to go to a private school!
It would have taken me YEARS to pay it back.
And guess what? In the end, I didn’t even get my degree in animal science. I switched my major four times and ended up in English. Truthfully, I had no idea what I wanted to become. And I’m betting I wasn’t alone. And if you are a student right now, it’s highly likely you are unsure too.
So why would you put yourself into debt when you are unsure? AND honestly, why would you put yourself into debt if you are sure? I was sure I was going to be a veterinarian, and it was after working in a vet’s office for a year that I realized it was not what I wanted to do. It wasn’t the classes in school that gave me good insight. Again, real world experience gave me a better direction.
2. Going to community college saves you a ton
Either way, it makes more sense to pay the least amount for college. I didn’t end up going to community college for my general education. Looking back, I probably would have gone to community college to save money. The price of my college education played a big role in how quickly my business paid for college.
According to College Board, the average community college costs $3,440 a year for tuition. If you choose community college over a private school, you are saving $28,970 (using the numbers above from College Board). Two years of community college saves you $57,940! That’s huge!
Something happened my first year in college that really opened my eyes to the way the world worked. Two things became very clear to me…
One was I was going to end up with a huge amount of debt at the end of this whole college adventure because I couldn’t qualify for financial aid. (Note: If you are under 24 years old, you are considered to be a “dependent” of your parents for federal student aid purposes unless you are married, have dependents other than a spouse, are an orphan, are a veteran or active duty member of the US Armed Forces. This means you must show your parent’s income on financial aid papers even if you have a job and support yourself).
The other thing I figured out was that I didn’t want to work for someone else and make them a ton of money. I wanted to be my own boss.
3. Finding your passion is most important
It took me a year of working at a veterinary clinic to realize I didn’t want to become a vet. Imagine if I waited until I graduated to go work for a veterinarian. Oh my gosh, I would have wasted thousands of dollars.
And I hear this all the time from students. They get into a private college specifically for some major. Then they end up going through the first year or two only to discover they hate the work.
It’s good to take the time to explore, but seriously… do you need to spend over $50,000 to explore?
And if you are following what everyone else tells you to do, you are most likely majoring in something that will get you a job that will pay well.
That’s fine until you get out into the workforce and start that job and discover you hate it!
Then what?
This is why I’m a huge believer in follow your passion. My business paid for college courses that aligned with my passion. Most people follow the money… if you do this, you will end up miserable, guaranteed.
When I had the ah-ha moment that I wanted to be my own boss, I shifted my focus from college to entrepreneurship. I asked myself, “What could I do now that allows me to do something I enjoy and make money at the same time?”
It didn’t take long to stumble upon a business that fit my passions. And because I was so excited to be running a business of my own, I was happy to work long hours to see it succeed. It didn’t feel like work. It felt like a fun challenge!
4. Staying sane means finding something you want to do all day long
The most crucial thing to determine for your work life is finding something you want to do all day long.
If you are going to be working all day long, would you rather work for someone else and hate it, or find something you love to do and do that all day long?
It’s true that some of the tasks I had to take care of in my business were things I didn’t love doing… but I was still happy that most of the time I got to do something that was a match for me and paid me directly. I was no longer working to make a boss rich!
5. Nurturing your passions early gives you a head start
By taking the time to nurture your passions, you discover more about them. And some passions will fall away as they don’t quite match up with you. Others will stick with you for a lifetime.
If you are a student, now is your time to discover what your passions are so you can immerse yourself in them deeply. I’m grateful that my business paid for college classes that I enjoyed.
Because I allowed myself time to explore my passions in school, I found out within a year that I didn’t want to work with animals full time. Instead, I pursued starting a business of my own. Within 2 years, I was making more with that business than I could with a full time job out of college. And yet, I stayed in school because I thought it would be wise to have a degree to fall back on. I wanted to have some kind of insurance just in case the business failed.
But by the third year of college, my business was fully paying for my college tuition plus some!
When I graduated, people were asking me what I was going to do with my degree, as if they expected me to find a job.
I would just smile and say, “I’ll be growing my business.”
6. Starting a business in college gives you a head start.
So here’s where going to college was my saving grace for my business.
I ended up not qualifying for government aid and had to use loans and credit to pay for school.
Basically, this gave me the starting money for my business as well!
If you were to follow this same plan, you could enroll in community college and take classes that appeal to you. Apply for a student loan. Use this funding to start your business online… and then once your business is making money, you can pay off the college loan.
This way, if your business takes awhile to monetize, you won’t break the bank on community college tuition at the same time.
The earlier you start your business, the more time you have to tweak it and get the money flowing. And hopefully, by the time you are graduating, you will be debt free and own a business of your own!
My business paid for college. You can do it too!
I suggest choosing something you are already passionate about and figure out a business which allows you to explore this passion and grow in it.
Choose a major which nurtures this passion further. If you go to community college, start taking classes which will nurture this passion.
Start a website centered around your passion and share what you know with others online.
Monetize this website with products and services related to your passion.
Use the income to pay for college loans over time.
This was the way my business paid for college!
Related articles:
Starting Your Blog How to Make Money Online
How Much Money Can You Make Blogging
Tips for having your business pay for college
- Pick something that you feel passionate about.
- Enroll in a college (preferably community college or state school) that aligns with your passion and doesn’t break the bank.
- If you can start making income quickly from your business, then use that money to pay for college.
- If you can’t make money right away, apply for a small loan for school. Use some of this money to only purchase what you need for your business. Create a simple website to have a landing page for your clients. Give yourself a chance to build a clientele and generate revenue. My business paid for college loans in the end. It’s totally possible for you to achieve this!
- Keep expenses to a minimum and pay loans off as quickly as you can. Live frugally during this time. Living frugally ensures that you only spend your money on needs instead of wants.
What are your ideas for starting a business that pays for college? What will be your plan for achieving this goal?
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