Parents

Avoid the disastrous financial mistake a lot of parents make!

Many parents want to see their child get a 4-year degree, and that’s completely understandable. The problem is that if your child doesn't want to go to college for four years, statistics show that they most likely won’t, and when they drop out, 100% of the money (most likely thousands of dollars) you spent is wasted because a partial degree is useless.

According to the Gates Foundation and USA Today:Many students drop out because they only enrolled to please their parents!

On a very regular basis we get students who enroll in our school with the same story… I have a year and a half of college because that’s what my parents wanted me to do but I kept telling them that I wanted to go to beauty school and they wouldn’t let me.

According to the U.S. Department of Education, National Center for Education Statistics, the average annual expense of college per year is $21,657 which means there’s a lot of people out there who have lost over $30,000. That breaks our heart (and your bank).

We want you to avoid that extremely costly mistake, so let’s look at some comparative information that might set your mind at ease.

WHAT ARE YOUR
GOALS FOR
YOUR CHILD?:

• Get a degree they can use for the rest of their life.
• Earn a good enough living to make it on their own.
• Be happy doing what they love.

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COMPARE ANNUAL SALARIES:

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Education Level

No High School Diploma
High School Diploma
Associate’s Degree
Bachelor’s Degree
Master’s Degree
Doctorate Degree

Avg. Yearly Salary

$14,349
$23,233
$31,684
$45,648
$56,958
$87,644

Per AACS (see Career Opportunities Page):

Position

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Cosmetologist
Hair Colorist
Esthetician
Nail Technician

Nat’l Avg. Salary*

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$33,843
$46,402
$40,126
$33,148

Salary Range including Tips & Retail Commission

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$38,919 – $45,688
$53,362 – $62,642
$46,145 – $54,170
$38,120 – $44,749

Conclusion: When comparing someone with a Bachelor’s degree to someone in the beauty industry, there’s not a lot of difference in their annual income, especially when taking tips and retail commission into account.

COMPARE CAREER PLACEMENT:

Bachelor’s Degree:

According to a New York Times article:

• Among the members of the class of 2010, just 56 percent had held at least one job by this spring, when the survey was conducted.
• The median starting salary for students graduating from four-year colleges in 2009 and 2010 was $27,000, down 10 percent, even before taking inflation into account.
• Many (grads) have taken jobs that do not make use of their skills; about only half of recent college graduates said that their first job required a college degree.
• The number of college graduates aged 25 to 34 employed in food service, restaurants and bars has risen 17 percent.
• Lower starting salaries are adversely affecting long-term salaries. “Their salary history follows them wherever they go,” said Carl Van Horn, a labor economist at Rutgers. “It’s like a parrot on your shoulder, traveling with you everywhere, constantly telling you ‘No, you can’t make that much money.’ ”

Beauty Industry:

Take a thorough look at our Career Opportunities page and you’ll see statistics like:

• Beauty sales in the U.S. have shown remarkable growth, from $8.6 billion in 2010, to $9.5 billion in 2011 and bullish expectation for a 5.5% increase in total sales for 2012.
• The need for cosmetologists, estheticians, makeup artists and stylists is growing.
• The demand for well-trained professionals in the field outstrips the supply. Future hiring plans are robust and the industry is projected to continue growing.
• 53% of salon owners had job openings.
• The supply of skilled professionals in the industry continues to fall short of the demand.
• There is a lot of career diversity as a license opens up many career opportunities within the beauty industry – working in, managing or owning a salon, teaching, platform work, government jobs, sales rep jobs, and more.
• Great job security and flexibility.

New York Times : Many With New College Degree Find the Job Market Humbling

Conclusion: Less 4-year degree graduates are finding employment in their majors, if any employment at all, and salaries are declining; whereas the beauty industry is growing and projected to continue to do so, and there are many positions open right now.

COMPARE COMPLETION LENGTHS:

Bachelor’s Degree:

Statistics from the College Board tell us that the average time to earn a bachelor’s degree is 4.7 years (2008). So the trend is toward 5 years.

Cosmetology/Barber: 10-14 months full-time.

Esthetician (Skin Care): 3-8 months full-time.

Nail Technician: 3-8 months full-time.

Massage: 7-10 months full-time.

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Conclusion: In the same amount of time as getting a Bachelor’s degree, your child could have their license and be working for over 3 years.

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COMPARE COSTS:According to CNN Money the average student loan debt for a 4-year degree is roughly $27,000, and per the U.S. Department of Education, National Center for Education Statistics, the average annual expense of college per year:

Public: $15,605 (four years = $62,420)

Private: $37,975 (four years = $151,900)

Combined: $21,657 (four years = $86,628)

*Note: This does not take into account it’s now averaging 4.7 years to graduate.

Conclusion: Since our college is one year or less, your child’s total investment in education will be roughly one-fourth the cost, saving thousands of dollars in college expenses and dramatically reducing their student loan debt.

COMPARE GRADUATION RATES:According to Harvard, 56% of students graduate from 4-yr college and 26% graduate from 2-yr college.

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Over 78% of Bene's students graduate. 

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Conclusions: Your child is way more likely to graduate and get a good profession by attending the school they truly want to attend, and you stand a much better chance of not losing money.

The Gates Foundation and USA Today also found that many students who didn’t receive financial assistance from their parents resulted in higher drops as well as students who had to work versus students who were full-time students without jobs.

FINAL SUMMARY:If you want your child to graduate and enjoy a rewarding career:

• Put them in the school and degree of their choosing.
• Financially support your child while enrolled.
• Have them dedicated to college while enrolled (not working).

Our Career Specialists are here to work with you to answer all your questions and to make the enrollment process as smooth and professional as possible for you and your child. Feel free to contact us whenever and for whatever you need.

Why ? Bene's Because Your Career is Counting on it!