Req 10 — Career Planning
Do the following:
a. Choose a career you might want to enter after high school or college graduation. Discuss with your counselor the needed qualifications, education, skills, and experience.
b. Explain to your counselor what the associated costs might be to pursue this career, such as tuition, school or training supplies, and room and board. Explain how you could prepare for these costs and how you might make up for any shortfall.
Your Future Starts Now
This final requirement brings everything together. You have learned to manage money, manage time, and plan projects. Now apply those skills to the biggest project of all: your career. You do not have to decide your whole life right now — but thinking seriously about a career path helps you make smart decisions today that pay off later.
Step A: Choosing and Researching a Career
How to choose a career to research:
Start with what interests you. Think about:
- What subjects do you enjoy in school?
- What activities or hobbies excite you?
- What problems do you want to solve?
- What skills do you already have or want to develop?
- Who do you admire, and what do they do for work?
You are not making a lifelong commitment — you are exploring. Pick a career that genuinely interests you, even if you are not 100% sure about it.
What to research about your chosen career:
Career Research Checklist
Information to gather for your counselor discussion
- Job description: What does a typical day look like?
- Education required: High school diploma, associate degree, bachelor’s degree, graduate degree, or specialized training?
- Certifications or licenses: Are any required? (Medical license, teaching certificate, trade certification)
- Skills needed: Technical skills, soft skills, physical requirements
- Experience: Do you need internships, apprenticeships, or entry-level experience?
- Job outlook: Is this field growing or shrinking?
- Salary range: Entry-level, mid-career, and experienced
- Work environment: Office, outdoors, hospital, school, travel required?
Step B: Understanding and Preparing for Costs
Every career path has costs associated with getting there. Research the specific costs for your chosen career:
Education costs:
- Tuition: The biggest expense. Varies enormously — community college might be $3,000–$5,000 per year, while a four-year university can be $10,000–$60,000+ per year.
- Room and board: Living on campus or near school. Typically $10,000–$15,000 per year.
- Books and supplies: $1,000–$2,000 per year, depending on the field.
- Lab fees or special equipment: Some programs (nursing, engineering, culinary arts) have additional costs.
- Certification exams: Professional exams can cost hundreds or thousands of dollars.
How to prepare for these costs:
The budgeting and savings skills from Requirements 1 and 2 apply directly here:
- Start saving now: Even small amounts add up over years, thanks to compound interest from Requirement 4
- Research scholarships: Billions of dollars in scholarships go unclaimed every year. Start searching early.
- Consider financial aid: Complete the FAFSA (Free Application for Federal Student Aid) to see what federal aid you qualify for.
- Look at all school options: Community college for the first two years, then transferring to a four-year university, can save tens of thousands of dollars.
- Work-study and part-time jobs: Many students work during college to offset costs.
- Military service: The GI Bill and ROTC programs can pay for education in exchange for military service.
Making Up for Shortfalls
What if saving and financial aid are not enough to cover the full cost? Here are legitimate strategies:
- Federal student loans — lower interest rates and better repayment options than private loans (review Requirement 7)
- Employer tuition assistance — some employers pay for employees to go to school while working
- Cooperative education (co-op) programs — alternate between semesters of school and semesters of paid work in your field
- Trade and apprenticeship programs — many skilled trades (electrician, plumber, welder) offer paid training where you earn while you learn
- 529 savings plans — tax-advantaged accounts specifically designed for education expenses
Connecting It All
Look at how this requirement ties back to everything you have learned:
- Budgeting (Req 2) → Creating a plan to afford education
- Saving and investing (Req 4) → Starting to save for career costs now
- Understanding loans (Req 7) → Knowing how student loans work before you take them
- Project planning (Req 9) → Treating your career preparation like a structured project
- Time management (Req 8) → Balancing school, work, and preparation