Make Sure the Path Pays, Before You Pay for the Path.
At Champion Wealth Management, we want to congratulate you for all of your academic, athletic, and extracurricular activities that have brought you this far. Let's be real: we've all heard that the next logical step in your bright future is to attend college. "Just get a degree, everything works out." Take it from someone who's been there and has the T-shirt: a lot of my close friends didn't progress after college. They fell into a trap that ensnares 52% of recent college graduates in underemployment, working jobs that never required the degree they borrowed six figures to earn, and 45% are still underemployed ten years later. Good kids, good families, following the advice everyone gave them, and no one showed them the math first.
I'm not telling you "don't go to college." I'm saying choose with your eyes open. Know yourself and your situation, and research what a path really costs, whether employers actually want it, and what the debt-free alternatives are. Below we walk through both: how to pick a path that pays, and if college is that path, how to do it smart and affordable. No judgment. Just the guidance most young people never get.
Source: Burning Glass Institute & Strada Education Foundation, “Talent Disrupted: College Graduates, Underemployment, and the Way Forward,” February 2024.
For plenty of kids, college is the right path, and if so, the goal is simple: maximum value, minimum debt. Three moves make the biggest difference.
1. Know the real cost. The same degree can carry wildly different price tags: about $11,610/year in-state at a public school versus $30,780/year out-of-state, a ~$19,000-a-year gap for identical classes. Private colleges average about $43,000 sticker, though most families pay less after aid. Starting in-state, or at a community college for the first two years, can save tens of thousands with no loss in the degree.
2. Get the aid almost everyone qualifies for. Most students qualify for some form of aid, and it starts with one free form: the FAFSA. It unlocks Pell Grants (up to $7,395, which you don't pay back), work-study, and state and school aid. File as early as possible, because state and campus funds are limited and run out well before the final deadline.
3. Test prep pays. A higher ACT or SAT score can translate into thousands of dollars in merit scholarships, and the best prep is completely free. An afternoon a week on official practice can move a score enough to change an aid offer.
Sources: College Board, Trends in College Pricing 2024–25 (average published tuition and fees); U.S. Department of Education, Federal Student Aid (2025–26 maximum Pell Grant, $7,395).
The $100,000 Question: Will This Path Pay You Back?
A four-year degree is one of the largest purchases most families ever make. Sticker prices run about $11,600 a year in-state and $43,000 a year at a private school, and once you add housing, food, and books, a degree can easily top $100,000. That's fine if it pays off. Like any investment, some do and some don't.
The problem isn't college itself. It's borrowing six figures without ever checking whether the degree leads to a job that can repay it. Before your child commits, ask two plain questions: What do people with this degree actually earn? And how many are getting hired? You can look both up for free, in about ten minutes, long before anyone signs a loan.
Most kids choose a major on passion or a pretty brochure, almost never on whether anyone is actually hiring for it. Passion matters. So does a paycheck that covers the loan. The good news: you can test a major against the real job market before you ever enroll.
Have your child spend an hour doing this: type the degree or the dream job into a job search and look at the results. How many openings are there? What do they pay? What do they require? If a field has thousands of openings and solid pay, that's a green light. If almost no one is hiring, or the pay won't cover the debt, that's not a dead end. It's information. Pick a stronger path, or pair the passion with a skill employers pay for.
If your child wants a field with real demand and real pay, the data points in a clear direction right now: artificial intelligence, data, cybersecurity, and software/cloud computing. Information-security analyst is one of the fastest-growing computer jobs in the country, projected to grow about 29% through 2034, with a median wage near $125,000. Demand for artificial-intelligence and machine-learning skills is climbing fast right alongside it. Quantum computing is the next frontier taking shape behind them.
Here's what most families don't realize: you don't always need an expensive four-year computer-science degree to get in. Community-college programs, industry certificates, associate degrees, and apprenticeships open many of these doors at a fraction of the cost, and employers increasingly hire on skills, not just degrees.
Source: U.S. Bureau of Labor Statistics, Occupational Outlook Handbook, May 2024 (information security analysts: median wage $124,910; projected 29% growth, 2024–34).
This is often the most overlooked option, and one of the best. In the military, a young person earns a paycheck from day one, gets world-class training, and finishes with zero student debt. If they still want a degree afterward, the GI Bill can pay for it (tuition plus a housing stipend), so college comes debt-free too.
And it's not just infantry. The Air Force alone offers more than 100 career specialties, many with skills that transfer straight into high-paying civilian jobs:
Technical & cyber: cybersecurity, IT, avionics, and aircraft systems that map directly onto the in-demand fields above.
Healthcare: medical, dental, and lab training that civilian employers hire the day you get out.
Skilled & mechanical: aircraft maintenance, logistics, construction, and heavy equipment.
Leadership & benefits: pay, housing, healthcare, and real responsibility at an age when peers are still borrowing.
For the right young person, the military is a paid head start: a skill, a clean financial slate, and the GI Bill waiting if they choose school later.
The construction industry needed to add more than 500,000 workers in 2024 to keep up with demand, and the pay reflects that shortage. Heating and air (HVAC), electrical, and plumbing carry median wages around $60,000 to $63,000, and that's the middle, not the ceiling. Top earners and those who run their own shops can clear six figures.
The best part for a family worried about debt: apprenticeships let you earn while you learn. Instead of paying tuition, your child gets paid for on-the-job training while taking classes. They can finish at 22 with a real skill, a paycheck, and no loans, while their classmates are still borrowing. And the same AI and data-center boom driving the tech jobs above is driving demand for the trades too: someone has to build, wire, and cool all of it.
Sources: Associated Builders and Contractors, 2024 workforce shortage analysis (501,000 additional workers needed); U.S. Bureau of Labor Statistics, Occupational Outlook Handbook, May 2024 (electricians $62,350; plumbers $62,970; HVAC mechanics $59,810 median annual wage).
Whatever path your child chooses, the earlier you plan, the less anyone has to borrow. Time does the heavy lifting. The right tax-smart account lets your savings grow without the drag of taxes, so even small, steady contributions started early can dramatically shrink the bill later.
Two accounts do most of the work. A 529 plan grows tax-free and comes out tax-free for tuition, housing, books, and more, with high contribution limits and no income cap to open one. A Coverdell Education Savings Account (ESA) works the same way, tax-deferred growth and tax-free withdrawals for qualified education costs, and both can help with K-12 expenses such as private school tuition and tutoring, not just college. You can put in up to $2,000 a year per child while they are under 18, and choose your own investments. For many families the two work best together.
But here's the rule we never bend: don't fund college at the expense of your own retirement. There are loans and grants and scholarships for college. There are none for retirement. We build a plan where both goals coexist, and we structure how you save so it supports financial-aid eligibility rather than working against it. This is where we help your family directly, matching the right vehicle to your situation and keeping it on track as life changes.
If you're reading this already out of school and stuck in a job beneath what you're capable of, this part is for you. Life hits everyone hard. What separates the people who rise from the people who stay down is simple: the ones who make it get back up. The heroic thing, the hard thing, is to just keep going. And the way you keep going is you put in the work.
Do that, and do it the right way, and the work compounds on itself. Show up, stay in good standing, and become the person your employer can count on. Then, when it's time to move on to something better, leave the right way, because how you leave is remembered far longer than how you arrived:
Give a proper two-week notice. Never just walk away. Quitting on the spot slams a door you may need open later.
Ask for the reference before you go. Politely ask your boss and supervisors if you can list the job on your résumé and use them as a reference, and get their contact information while you still have it.
Keep every relationship clean. Business owners know each other, and word travels fast in a community.
Reputation is the one asset no layoff can take from you. Cream floats to the top, and the young person who works hard, finishes strong, and leaves every job with people willing to vouch for them will not stay underemployed for long. Your circumstances right now may be beyond your control. Where you go from here is not. So this is only temporary, isn't it?
529 Plans: Common Questions
Straight answers to common questions about 529 plans, drawn from the IRS and the SEC.
What is a 529 plan?
A 529 plan is a tax-advantaged account designed to help families save for education. Plans are sponsored by states, state agencies, or educational institutions and come in two types: education savings plans, which invest your contributions, and prepaid tuition plans, which let you buy credits toward future tuition at participating schools.
What can I use a 529 plan for?
Withdrawals are free of federal income tax when used for qualified education expenses. These include costs required to enroll in or attend a college, university, or vocational school; K-12 tuition and related costs, such as curriculum materials, tutoring, and testing fees, up to $20,000 a year starting in 2026; costs of registered apprenticeship programs; certain postsecondary credential programs; and up to $10,000 in lifetime student loan repayments per person.
What happens if I use 529 money for something else?
The earnings portion of a withdrawal that is not used for qualified expenses is included in your taxable income and generally faces a 10% additional tax. Exceptions to the additional tax include withdrawals made because the beneficiary received a tax-free scholarship (up to the amount of the scholarship), attends a U.S. military academy, becomes disabled, or dies.
What if my child does not go to college?
You still have options. You can change the beneficiary to another member of the beneficiary's family without income tax, use the money for other qualified education such as an apprenticeship or credential program, or, under certain conditions, roll part of it into the beneficiary's Roth IRA.
Can I roll a 529 plan into a Roth IRA?
Yes, under certain conditions. The money must move directly into a Roth IRA for the 529 beneficiary, the 529 account must have been open for at least 15 years, contributions made in the last five years (and their earnings) cannot be rolled over, each rollover counts toward the Roth IRA annual contribution limit, and there is a $35,000 lifetime limit.
Do I have to use my own state's 529 plan?
No. You can generally choose another state's education savings plan, although prepaid tuition plans typically have residency requirements. Many states offer tax benefits, such as a state income tax deduction, that may be available only if you invest in your own state's plan, so compare those benefits with each plan's fees and investment options.
Does a 529 plan affect financial aid?
It can. Schools treat 529 assets differently, but saving in a 529 plan will generally affect a student's eligibility for need-based financial aid. Keep in mind that for many families, much of a financial aid package may be loans, so the more you save, the less your student may need to borrow.
What is the difference between a 529 plan and a Trump Account?
They serve different purposes. A 529 plan is designed to pay for education. A Trump Account, created under the 2025 tax law, is a new type of individual retirement account for children, and eligible children born from 2025 through 2028 can receive a one-time $1,000 contribution from the Treasury. Our Retirement Planning page covers Trump Accounts.
Prior to investing in a 529 Plan investors should consider whether the investor's or designated beneficiary's home state offers any state tax or other state benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investments in such state's qualified tuition program. Withdrawals used for qualified expenses are federally tax free. Tax treatment at the state level may vary. Please consult with your tax advisor before investing.
This information is educational and is not a recommendation of any specific plan. Investing involves risk, including possible loss of principal. Tax rules are subject to change. Champion Wealth Management and LPL Financial do not provide legal advice or tax services. Please consult your legal advisor or tax advisor regarding your specific situation.
Give your child a head start, not a debt sentence.
Whether the smart path is a trade, the military, or a debt-free route to a degree, we'll help your family choose it with clear eyes, and fund it without sacrificing your retirement.
