EDUCATION
SPECIAL SECTION:
majors can find themselves in the genetics or biotechnology
industry, going on to medical school, or becoming an
environmentalist, to name a few.
START SAVING FOR COLLEGE WHEN YOUR
KIDS ARE BORN
There is no time better to start saving for college than when
your child is born, or even earlier! There are many options
available for parents who want to get a jump-start on saving for
college, and some plans even allow for savings to be used at the
child’s discretion (for education or something else) when they
reach a certain age.
Parents wishing to save specifically for education purposes
can open a 529 college savings plan. The name comes from
Section 529 of the IRS tax code, which encourages saving for
future educational purposes through a tax-advantaged plan.
In Pennsylvania, there are two options available: the PA 529
Guaranteed Savings Plan (GSP) or the PA 529 Investment
Plan (IP). Each plan requires a certain amount of money down
(as little as $15) and both plans can be used at most post-
secondary schools, including colleges, universities, technical and
professional schools, or even elementary or secondary public,
private, or religious schools. Another benefit is that neither of
these plans is limited to in-state tuition.
The biggest difference between the two plans is the way your
money is invested and how it’s managed. The GSP allows you
to choose the type of school or tuition level to save toward,
then the PA Treasury manages your investments from there.
The benefit is that your savings continues to grow with tuition
inflation. The IP gives you more freedom to invest your savings
into a variety of 17 different investment options, but your money
is more fluid, allowing you to lose or gain depending on market
conditions.
There are several other options available when starting to
save for a minor, including educational savings account (ES),
Uniform Transfer/Gift to Minors Act, custodial accounts, or
simply putting money under your mattress. No matter what
route you choose, it’s never too early to start saving.
TRADE SCHOOLS
Over the past 30 years, the cost to attend a four-year college
has increased by 213 percent, leaving many college graduates
searching for ways to repay their student loans. Some high
school seniors are looking to avoid the hefty price tag of a four-
year degree and instead opting to attend a trade or technical
school. Trade school enrollment continues to increase since the
early 2000s, but a steep decline in vocational education in the
1980s and ‘90s led to a shortage of blue-collar workers across the
nation. Trying to gain back skilled workers has led to an increase
in wages, enticing students and parents alike to see past the old
stigma of choosing a trade school over college. Here are a few of
the best trades or vocations available.
• Air Traffic Controller – With a few years of intense training
and a certification by the FAA, air traffic controllers are highly
sought after. Individuals must have the ability to concentrate,
organize flight plans, inspect radio equipment, and are
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required to be constantly vigilant to successfully execute their
job duties.
Radiation Therapist – An associate degree is required to land
a job as a radiation therapist, along with a licensure to practice.
If you’re interested in caring for other people, this job requires
administering radiation for cancer treatments.
Dental Hygienist – Smile! Your career could be in making
teeth brighter. Dental hygienists work to clean teeth, take
x-rays, and educate patients on oral health. They are also
ranked among the most satisfied workers. You’ll need an
associate degree to pursue this career.
Electrician – Training to become an electrician takes about
as long as it takes to get a bachelor’s degree and a license,
but this job training pays for itself along the way. If reading
blueprints and installing or repairing wires and other electrical
components interests you, this career might be electrifying.
Plumber – You’ll need your high school diploma and an
apprenticeship to become a plumber. Once you are licensed,
you can start to work, but you’re sure to need some physical
strength to take on this job.
Diagnostic Medical Sonographer – After obtaining an
associate degree, sonographers go on to prep patients for
procedures, review and process images for physicians,
and administer ultrasounds. You’ll also be responsible for
operating imaging equipment.
Elevator Installer – A career with high earning potential,
elevator installers repair and maintain elevators, escalators,
moving walkways, and lifts. A high school diploma and
apprenticeship is required for this role, so if you’re good with
power tools, this job might be a lift up for you.
TYPES OF COLLEGE LOANS
Getting into college is one of the most exciting times of a
student’s life and is the first step in shaping his/her career. Many
colleges and universities offer a myriad of grants or scholarships
to assist with paying for post-secondary school, but often these
are not enough. Student loans provide financial assistance for
students to cover the costs associated with attending a college
or career school, including tuition, supplies, books, and living
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SOUTH FAYETTE
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FALL 2019
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