While parents may think their work is done once their kids graduate college they shouldn’t start planning their life as empty nesters so fast. Turns out even though kids may be getting their diplomas, a lot of them aren’t quite ready to go off on their own.
In case you missed it, a new poll finds 26% of Millennials in college say they're planning to move back home after they graduate in order to save money and pay off their student loans. And while the thought of a kid moving home may drive mom and dad crazy, it turns out their kids are actually being very smart considering the amount debt most students come away from school with. How so? About 32% of students owe somewhere between $10,000 and more than $50,000 for their education, with the average about $10,205.
- But it’s not like college grads want to stay at home for long. While nearly half of Millennials who already graduated moved back home after school, and another 25% of those still in college say they “expect” to move home, most have definite ideas about when they want to move out.
- Most of those ages 20 to 26 say they would be “embarrassed” to still be living with mom and dad by 28, while 30% said they wouldn’t feel bad until they were between 30 and 34. Even better for mom and dad, only 11% think it’s acceptable to live at home past age 35.
Source: USA Today
Photos: Getty Images
Scott's Thoughts…
- Guess I’ll have to rethink turning my kids bedroom into an exercise room…
- Do you have a kid graduating college this year? Do you expect them to move home after they graduate? Are you okay with them moving home?
- Did or has your kid overstayed their welcome after college? How long did they stay after they graduated? Why do you think they stayed that long?
- College grads, do you plan to move back home after school? Why do you want to live at home? How long do you think is too long to stay?