More Graduates Moving Home After College

More Graduates Moving Home After College

Living with your parents. It may not be the ideal situation for college grads, but it’s the reality for more and more young people facing a tough job market. According to The Huffington Post, a¬†survey of last year’s college graduation class showed that 80 percent moved back home after getting their diplomas, up significantly from the 63 percent in 2006. The survey of 2,000 young people showed that seven in 10 said they would live at home until they found a job.

For the class of 2010, “the economy is still rough. … a good number are still searching” from the class of 2009, said Guy Davis, director of the career center at Towson University. He said only about 20 percent had jobs lined up at graduation, with “a fair number” looking at graduate school.

Especially with student loan debts skyrocketing, it makes financial sense to live with your parents. You can relax and spend time looking for the right job, rather than jumping at the first one that comes along so you can pay rent. For those looking at grad school, living at home also enables you to devote plenty of time to researching and applying for schools.

Would you consider moving home after college? Grads might feel restless and not want to move home, but resist the urge to be on your own you have the financial resources to do so. That is, as long as your parents let you come back!

Photo: Static.Guim