Life after college. That’s an idea that not many think of during these years, with an infinite amount of other thoughts floating around, whether it’s what’s due for class tomorrow or a list of things that you need to get for your dorm.
Unbeknownst to many students today is that new studies are showing an increasing number of students move in with their parents after they graduate, and even during their college years. But several students are saying now that this isn’t necessarily a bad thing- and they’re being backed up by experts.
More than 40 percent of what has been called “the boomerang generation” live at home, compared with less than a third of baby boomers when they were that age, according to a recent AARP survey. More than half of 25- to 34-year-olds living at home don’t pay rent, according to a survey by Pew Social Research & Trends. The Pew survey found that more than 78 percent of millennials living with their parents were satisfied with their living arrangements.
While student loans have increased it is one of several factors causing students to move back home. With student loans rising it causes many students to come out of college without any money to put towards a place of their own. Many students do attempt to move forward with but with the lack of jobs in this economy it is becoming more and more difficult.
As students grow up they are shown through media that living with their parents is an unpopular practice because it seems like they are not going through the natural cycle of being independent. Many believe if you are living at home you’re not achieving your full potential as an individual but going back home is quickly becoming a social norm of the Millennial generation.
In 2012, the number of college students and graduates living at home reached an all time high. According to the Pew Research Center, they are 21.6 million strong and counting.
Jack McCluskey an international student from Scotland, who is a freshman majoring in sports management, gave his view when asked if more students in Scotland stayed at home or lived in dorms when they attend school.
“In Scotland more students stay in dorms when they attend college than live at home. When they graduate a lot of students just get their own apartments,” McCluskey said. “I think after college I will stay here instead of moving back home, there are way more opportunities here and nicer weather to golf in.”
Commuters save more money by staying home, anywhere from 1,718 to 4,954 dollars per semester because they didn’t need to pay for housing according to UT’s residence life, room and board page.
Vontesha Williams, junior and a communications major, was able to answer questions on why living at home and commuting was the right option for her.
“The fact that I live close to here was a main factor of why I decided to commute,” Williams said. “I also saved close to ten thousand dollars a year because I don’t live in a residence hall. It’s nice coming home and seeing that your bed is made and that there is already a meal waiting for you, along with your family ready to talk about your day.”
Many parents have certain conditions for their college students to abide by like doing chores around the house or even paying rent for them to get a sense of what living in the real world is like.
“I’m really lucky that my parents don’t make me do chores or anything like that. It makes my life easier so I can just focus on my studies and prepare myself for my career,” Williams said.
As the years go by, studies show the amount of students who stay at home will continue to increase. With the economy in a rut and money being tight, moving back in with your parents seems as if it is a reasonable way to help save money which you can then put towards your future.