Pew Research economist Richard Fry recently released a report that revealed that as many as 45% of recent college graduates were living with their parents two years ago back in 2011. Although this figure is considerably less than the 85% being suggested by some news sources, it is still a shocking rise of around 13% on the figures seen ten years earlier back in 2001.
It is not difficult to understand why so many young adults are making the decision to move back home, with low wages, high unemployment and a difficult time being had by many graduates when it comes to finding any sort of work, let alone work in the area that they have actually studied for.
Another recent study claims that 48% of graduates have been forced to take jobs that do not require any kind of college degree, with 38% working in positions that do not even require them to have successfully graduated from high school.
Relocation back home can also be seen as a blessing given the amount of debt that college students are getting into these days. One smart way to cut down on this level of debt is to go to a community college for the first two years of your degree. Depending on whether students live in or stay at home, going to a community college can end up saving between $19,744 and $37,994.
Lance Grooms
