Proof That You Don't Need a 4-Year Degree to Be Successful: An Interview with Katelyn at Hey You Finance

Today I have a great interview from my friend Katelyn over at Hey You Finance!

Katelyn is a fellow Southern Indiana resident, newlywed, and personal finance nerd like me (we even share the same wedding date!).

Unlike me, she did not attend a 4-year college and instead went straight to the workforce after high school while completing accounting courses at the local community college in the evenings.

As a result, she graduated with no student loan debt and was able to start investing and growing her net worth starting at age 18.

Oh, did I also mention she bought her first rental property at 19 and paid it off by age 23?

Katelyn is a financial independence rockstar and I am so excited to have her on the blog!

I wrote a guest post for her blog about a year ago about things I learned while paying off $56,000 of student loan debt. So I thought it would be fun to interview her about her debt-free path into young adulthood!

We are talking all about college, student loan debt, and how her nontraditional college path set her up for financial independence!

I hope this post inspires you to do what’s right for you and not just blindly follow what society says!

What was your experience after you graduated high school?

I started working full time after I graduated high school and took night and online classes to earn my Associates Degree.

After taking an Accounting class in high school, I realized that it was a subject I really enjoyed. It came naturally to me.

In November of my senior year, I got a job working at a small, local CPA firm.

I was able to work a few hours after school each day and Saturday mornings during tax season. I was learning all kinds of things – processing payroll & preparing tax returns all while still in high school!

This gave me invaluable hands-on experience! I also learned a lot that I could apply to my own financial journey.

When I graduated high school in May, I started working for the CPA full time.

Rather than heading off to a four-year school in the fall, I continued working. I decided to enroll in night and online classes at a local community college to obtain my Associates in Accounting.

Do you feel like you missed out on the “college experience” by not going to a 4-year school right away? Any FOMO?

Honestly, not really. I don’t have any cool college stories, but it kind of just is what it is! I didn’t have any social media accounts at the time, which probably helped in retrospect!

I was able to focus on my own path and not get caught up in what everyone else was doing.

Did you experience pressure from family, friends, or guidance counselors about college and student loans? How did you navigate it?

I don’t remember feeling pressured by anyone around me. For the most part, everyone was supportive!

Guidance counselors encouraged a “traditional” route to college, but did not speak poorly of alternative routes.

I had a GPA greater than 4.0 in high school, so I’m fairly confident I could’ve gotten into a four-year school. It just never felt like the right path for me.

My parents never really talked about college or a four-year degree being a must have, so I hadn’t spent much time thinking about it. (For reference, my mom has a four-year degree and my dad does not. Also, I’m the oldest in my family, so I hadn’t seen either of my siblings go off to college.)

My parents were very big on having a solid work ethic. My siblings and I all had jobs in high school, even before we had our driver’s licenses. We had checking accounts that we were taught to manage at 14 or 15.

While growing up, money conversations were not taboo. My parents spoke openly about the importance of saving and having diversified income and investments.

I’m thankful I was exposed to these conversations early on!

When it came time to go to college or not to go, I already had a job I liked – so I just continued working and went to a local community college.

The cost of college was my responsibility.

I received some scholarship money, and I had planned to cash flow the rest of the cost of my degree.

I ended up receiving tuition reimbursement from my employer at the time of about $6,000 as part of my compensation, and this covered the cost of my out-of-pocket tuition. I paid for books and supplies with my earnings. I did not take out any student loans.

Do you feel that your experience was worth it? Would you do anything differently looking back?

I absolutely feel my experience was worth it! I don’t think I’d do anything differently.

It’s weird to think about in retrospect because, at the time, I didn’t feel like I was doing anything too different.

Looking back, I’m extremely thankful for the path I took.

How did this path affect you financially?

It allowed me to start earning right away! At 18, I was earning a full-time wage.

I had no debt and I lived with my parents at no cost – which I’m very grateful for. It was a major accelerant in my financial journey.

A little less than a year after graduating high school, I used the money I had made for a down payment on my first rental property. (My parents have rentals as well, so I was exposed to them growing up.)

After graduating with my Associate Degree, I had some extra time on my hands – so I started tutoring middle schoolers in math Monday through Thursday evenings and waitressing on the weekends.

I really wanted to maximize my earning potential while my responsibilities were minimal.

I wasn’t tracking my net worth back then like I do now, but it was probably about $150,000 four years after graduating high school.

I was able to accomplish this because I was earning, investing, and spending next to nothing since I lived at home. I bought my first house and moved out of my parents’ house right before I turned 23.

As for my W-2 earnings today, I feel that they’re right in line with what they would be if I had a Bachelor’s Degree.

What advice would you give to high schoolers who are on the fence about taking out student loans vs. going an alternate route?

As a high schooler, I think it’s important to reflect on your life path and minimize distractions from peers.

What is it that YOU want to do?

As a grown up in society, I think it’s important to talk to the youth and listen to what they have to say. Talk about options, pros and cons, and what different paths could look like. Not one path should be enforced or made out to be better than another.

There will always be career fields with mandatory education and degree requirements, but this is not every line of work!

I think it’s important to understand that pursuing a college degree is an investment. It’s an investment into yourself, your career, and your future earning potential.

Not only is there a significant cost to college, but there is also a significant opportunity cost – which is the loss of potential gain or benefit from choosing one alternative over another. (For me personally, had I gone to a four-year school, I likely would’ve had tens of thousands of student loan debt at 22 instead of a six-figure net worth.)

When thinking about the cost of college, consider the return on investment (ROI).

Is choosing a traditional path of a four-year degree going to be more financially beneficial in the long run? It’s something to ask yourself. It might be, it might not be.

Earning a degree can build an incredible foundation for career and salary potential.

Earning a full-time wage at 18, beginning to invest, and keeping expenses low can also build an incredible foundation.

When on the fence about what kind of path to take after high school, I would suggest trying to find a job in your field or a related field before making your decision. Hands on experience is an entirely different level of learning and provides incredible insight.

Another piece of advice I have would be to start earning something ASAP. There is so much emphasis put on college and not nearly enough on the real life that comes after.

By earning something as soon as you’re able, you gain a glimpse into work life and the responsibilities that come with it.

Education is important in every line of work – whether it includes a degree from a formal education, trade skills, life skills, or a combination of the three.

There are many other employable traits that can’t be taught. Traits such as timeliness, efficiency, attention to detail, ability to communicate, thinking skills, attitude, and work ethic are important as well.

It’s one thing to land a job position, but how you apply yourself is what makes you a great employee and helps you to build a career.

No matter what kind of path you choose – I think the key is having some kind of plan.

My plan was to continue working and earn my Associate Degree outside of business hours. If I were to have said that my plan was to watch TV all day, I think I would’ve received very different feedback.

There are so many paths to consider after high school. You could pursue a bachelor’s degree, pursue an associate degree, start working full time, attend trade school or cosmetology school, start a business, join the military, maybe even take a gap year or two to figure out what you really want to do.

Don’t be afraid to take the path that makes the most sense for you and be sure to work towards your own definition of success!

Thanks for sharing your journey and advice with us Katelyn!

One thing I love about social media (even when there is so much to hate about it) is connecting with and learning from other like-minded people who I would have never met without it!

You all know that I did the 4-year school thing and came out of it with $56,000 of student loan debt. And while I don’t regret my decision (I am where I am today because of my experiences at college), I enjoy sharing stories from others who have taken a different path to provide a different perspective.

I love the emphasis she put on having a plan and considering the ROI and opportunity cost of each decision. The degree and/or job is only half of the picture. It’s what you do with that degree, job, or experience that makes you successful!

There isn’t one perfect path to success, and that’s part of what makes life so fun!

Katelyn has also written a post about the benefits of community college on her blog. Check out heyyoufinance.com for more of her content!

Proof That You Don’t Need a 4-Year Degree to Be Successful: An Interview with Katelyn at Hey You Finance