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Thinking about a career change? Here’s what to consider

By WTOP Staff

Economists predict that the labor market will improve in 2014 — the unemployment rate will fall while job opportunities rise. In other words, it’s time to consider new opportunities and find your dream job.

When considering your next career move, remember that your résumé doesn’t define you: You aren’t required to look for a job in your current industry or even know what occupation you want to move into before starting your search.

Today’s job seekers have access to postings from all sorts of companies with the click of a mouse — or a tap on your smartphone — on websites like Indeed.com. Using technology allows you to easily explore different career opportunities to find the right spot for you.

You’re not alone in your thirst for a career change: Recent research by the Indeed Hiring Lab found that 81.5 percent of employed job seekers explore occupations other than their current one, and less than half search for a new job in the same category as their current job.

By doing a little extra exploration online, you may learn that your “perfect match” was a job you didn’t even know existed. It’s normal to look around, and if you’re thinking about a career transition, here are some things to think about.

Occupations to consider

Tara Sinclair, economist at Indeed, recommends healthcare.

“People in healthcare appear very satisfied with their career choices — even those in the lower-salary support positions are surprisingly keen to stay in their chosen occupations,” she said. “Plus, there are many opportunities in all sorts of healthcare fields, with relatively few job seekers currently considering moving into healthcare.”

Other obvious choices include computer and math-based careers, but there are also many opportunities in business and financial sectors.

If you’re currently in working in the food industry or in personal care, you’re definitely not alone in considering other options. Based on other job seekers’ searches on Indeed.com, you should research administrative or sales positions.

Be strategic

Although exploring and applying to different jobs during your search might be a good path for you, try to avoid “random acts of application.” Don’t send your résumé to every job opening in your city. Instead, be strategic and thoughtful about your applications. If your skills could apply to two different paths, consider creating two résumés, each one emphasizing your most relevant skills for a specific job type.

As you shop online for a new career, try entering keywords reflecting your skills rather than job titles to find hidden opportunities. Then, as you read through the job descriptions, ask yourself, “Is this me?”

Sometimes you find your perfect job and realize you may not yet be qualified for it — don’t let that discourage you. Instead, think of your search as a dartboard: your dream job is the bullseye, but you should also consider applying to jobs in the circles around the center to broaden your search.

A bit of flexibility in the initial steps of your job search could result in a great new career for 2014.

Don’t Settle for Student Loans to Pay for Online Education

By WTOP Staff
Online college programs are becoming a more popular choice for prospective students, with one study finding that more than 6 million students enrolled in at least one online course in fall 2015. The popularity of these courses can be attributed in part to their flexibility with working adults' schedules, students' ability to progress more quickly through online programs and, oftentimes, cheaper tuition. [See 10 low-cost online bachelor's programs for out-of-state students.]Online degrees can be beneficial to many college students, but some studies have shown online learners complete their programs at lower rates than students at traditional brick-and-mortar campuses. Individuals with student loans but no degree comprise two-thirds of defaulted borrowers. Though these numbers are not encouraging, just like for traditional programs, there are ways to reduce how much you'll need to borrow for an online program to ensure you won't become one of these statistics. Don't just settle on borrowing student loans to cover the whole cost of your program and living expenses. Instead, start thinking about how to cut costs and cover your balance in different ways, such as the following. -- Grants and scholarships: Even though you are taking an online course, you can still apply and receive grants and scholarships. But your first step should be to complete the Free Application for Federal Student Aid, commonly referred to as the FAFSA, which will allow you to receive a Pell Grant if your expected family contribution is low enough. The EFC criteria and award amounts are adjusted annually, but the 2017-2018 academic year awards range from $606 to $5,920, which could significantly lower the amount you borrow annually. Your next step is to apply for scholarships. You can start by checking online scholarship search engines, such as the Salt Scholarship Search, College Board's BigFuture and Peterson's. But don't forget to take advantage of local organizations and your school's financial aid office. Both may offer scholarships that you can't find with a national scholarship search. [Review these 10 sites to kick off your scholarship search.]For instance, organizations like the Elks Club, Knights of Columbus or the Rotary Club typically offer scholarships annually to local students. Just because you're going to school online doesn't mean you're ineligible. Visit your local library for scholarship listings, and ask around town. You might be surprised how many local organizations offer scholarships. While these scholarships typically aren't large, every little bit counts. Each dollar you receive in a scholarship is a dollar you don't have to borrow and pay interest on. -- Work-study: Another option for online students may be work-study awards. Not all students enrolled in online programs are eligible, but students at some schools -- including, for example, SUNY Empire State College and Liberty University -- are. Work-study awards are not given upfront like scholarships and grants. In most cases, they are an offer to earn up to the awarded amount if you secure an eligible work-study job. While there is a misconception that all work-study jobs must be on campus, students can work for off-campus, nonprofit or public employers as long as the work is in the public's interest. You may be able to work for a for-profit employer if the job is relevant to your course of study. No matter who the outside employer is, it will need to have an established agreement with your college for you to receive work-study funds. Remember, to be eligible for federal financial aid, you must be enrolled and pursuing a degree or certificate. If you're not working toward a credential, Pell Grants and work-study won't be option, but you may still be able to take advantage of private scholarships -- just be sure to read the eligibility criteria carefully. [Explore what to know about financial aid in online programs.]-- Pay as you go: One of the great benefits to enrolling online is the flexible schedule, which can allow you to complete your college coursework around your responsibilities. But prospective students often overlook using their part- or full-time job earnings as an option for paying for college. Almost 80 percent of college students in 2015 worked at least part time while attending classes, according to the National Center for Education Statistics. By budgeting and thinking strategically about your college costs, you can likely reduce your dependence on student loans by paying a portion out of pocket. Many -- but not all -- online programs are less expensive than traditional programs and often have shorter payment periods. Six, eight or 10 weeks are common course durations. Because of the frequency of payments in an online setting, you may be well-placed to pay as you go and possibly avoid borrowing altogether. Attending college online and avoiding student loans may be challenging, but if you are willing to put in the effort, you can limit the amount you need to borrow. More from U.S. News Q&A: Understanding Student Loan Discharge Eligibility Student Loan Refinancing Isn't Right for All Borrowers
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