Democratic Underground Latest Greatest Lobby Journals Search Options Help Login
Google

College graduates move back home (CNNMoney) {80% !?!}

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) Donate to DU
 
eppur_se_muova Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jul-24-09 07:23 PM
Original message
College graduates move back home (CNNMoney) {80% !?!}
By Gerri Willis, CNN personal finance editor
July 23, 2009: 2:05 PM ET

NEW YORK (CNNMoney.com) -- They've been dubbed boomerang kids and a recent poll by collegegrad.com shows that 80% of 2009 college graduates moved back in with their parents. That's up quite a bit from recent years.

So whether kids are home for just an extended summer or until they find a job, its important to set up some guidelines before they settle in.

Consider drawing up a written agreement between you and your child. Outline a time frame as well as responsibilities, both financial and around the house. Some parents charge rent while others won't even consider the idea. Whichever you choose, make sure to make clear exactly what the child is responsible for when it comes to other expenses like groceries.

Keep credit cards and cell phones separate. Johnny can pay for that himself. These are financial responsibilities your child needs to learn to take on.

But do consider keeping your child on your health insurance plan. If your health plan is employer-based it probably offers lower premiums than individual health insurance.
***
more: http://money.cnn.com/2009/07/23/pf/saving/graduates_mov... /
Printer Friendly | Permalink |  | Top
MADem Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jul-24-09 07:26 PM
Response to Original message
1. That's why it's a good thing to hang on to the old homestead...if you like your kids.
If you don't, that's another story.
Printer Friendly | Permalink |  | Top
 
Warpy Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jul-24-09 07:27 PM
Response to Original message
2. That means only 20% of new grads found jobs before graduation
and I find that alarming, to say the least.

I've seen horrible job markets before, but nothing quite like this.
Printer Friendly | Permalink |  | Top
 
FarCenter Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jul-24-09 07:45 PM
Response to Reply #2
4. Or they found jobs near home
Living at home doesn't necessarily mean that the grad doesn't have a job.
Printer Friendly | Permalink |  | Top
 
FarCenter Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jul-24-09 07:43 PM
Response to Original message
3. 58.5% of college students are living at home
So it appears that a little more than half of those living away from home are moving back after graduation.

Going away to live on campus at some distant college is mostly an upper and upper-middle class thing.



More College Students Living At Home

"The number of students living at home while attending college is on the rise, which shouldnt be much of a surprise considering the current state of the economy. What is surprising is the exact percentage of students who plan to reside at home this coming year 58.5% up sharply from 54.1% in 2008. These numbers were gleaned from a National Retail Federation (NRF) survey which also revealed that many students are postponing enrolling for advanced degrees until market conditions improve."

<SNIP>
http://www.saycampuslife.com/2009/07/16/more-college-st...
Printer Friendly | Permalink |  | Top
 
JayMusgrove Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jul-24-09 07:46 PM
Response to Reply #3
5. Great observation..!
yeah, I know some of them.. they got their degree, are $50,000 in debt, and work at the local McDonalds, Trader Joe's, or whatever.

They hardly can afford a car, have massive debt, and earn $8 an hour if lucky.
Printer Friendly | Permalink |  | Top
 
FarCenter Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jul-24-09 07:55 PM
Response to Reply #5
6. You need to live with somebody
With $50K of debt, and a $15K / year job, moving into a $10K / year apartment by yourself doesn't make a lot of sense.
Printer Friendly | Permalink |  | Top
 
JayMusgrove Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jul-24-09 07:59 PM
Response to Reply #6
7. I did this after grad school... I don't want it to repeat for anyone n/t
Printer Friendly | Permalink |  | Top
 
DU AdBot (1000+ posts) Click to send private message to this author Click to view 
this author's profile Click to add 
this author to your buddy list Click to add 
this author to your Ignore list Wed Jul 30th 2014, 07:39 PM
Response to Original message
Advertisements [?]
 Top

Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators


Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC