Saving Our Children from the Presumption of College

In 2022, 39% of 18- to 24-year-olds in the United States were enrolled in college or graduate school.

The total cost of attendance for a four-year degree includes tuition and fees, room and board, books, supplies, and other expenses. In 2022-2023, the average annual cost of attendance for first-time, full-time undergraduate students was: 

• Private nonprofit institutions: $58,600+

• Private for-profit institutions: $33,600+

• Public institutions: $27,100+

Most students borrow money to attend college, with the average federal student loan debt being $37,850. The standard repayment plan for federal student loans lasts 10 years, but the average student borrower spends closer to 20 years paying off their loans. 

The median annual salary for a college graduate with a bachelor's degree is around $77,636.. (after 4 years and an average debt of $38K)

This is the context for a discussion with a retired tradesman, Dennis Hamon. Dennis successfully sold his plumbing business a few years back and since that time has been serving his industry through the Plumbing, Heating, Cooling, Contractors Association. (PHCC).

He himself was that 18 year old kid who was always dreaming and always learning, but was not attracted to formal education. He was one of the 61% who did not go to college.

Instead he was mentored and apprenticed by tradespeople that helped shape his character and work ethic. And it eventually led him to building a successful practice.

Now he has a podcast, “Dennis the Apprentice” that is intended to be one of the vehicles that allows him to keep investing in the next generation of plumbers. He is also on the board of directors of the national PHCC and is helping shape the growth trajectory of the PHCC Academy, a comprehensive contractor life cycle education model beginning with workforce development.

Through the great conversation, he helps us understand the risks and opportunities in the plumbing industry. These will serve the next generation of plumbers represented by those 18 year old kids who have been taught to believe the only way to a quality life, a $100,000 annual salary and professional career development is through a 4 year degree.

If you love to learn, are accountable, love to help people, and fix problems that are important to them, then this might be the profession for you. And you get paid to learn it with many companies offering compensation based on your performance.

Plumbing services professionals are the doctors of the home. Educated, certified, professionally licensed, and well compensated. And they don’t spend 4 years to get a $50,000 job with a $50,000 debt hanging over them.

Enjoy this discussion with a great entrepreneur, and statesman.