HI MOM! Droves Of College Graduates Are Moving Home So They Can Afford Student Loan Burdens

11 May 2017 Edgeumakation Snowflakes

Via – Daily Caller

America’s twentysomething college graduates are moving back in with their parents in staggering numbers because they cannot otherwise afford the high payments on their student loans.

Almost half of America’s recent college graduates admit that they moved in with their parents for some period of time after getting their diplomas. Also, 26 percent of America’s current college students say their next big step in life after graduation will likely be to return home to their teenage bedrooms — or perhaps a room in the basement.

The data comes from a new survey by the brokerage firm TD Ameritrade, according to USA Today.

Graduates with student loan debt often feel forced to put off buying homes, getting married and saving for retirement because of their monthly loan payments.

  • Shocking, not!

  • EarnitYourself

    This isn’t about loans. It’s about useless degrees.

    A twenty something engineer in the space program who we play beach volleyball with was telling us a story last weekend about her college days when she had to quit the volleyball program because they frowned on students in “real majors” because studies took focus off volleyball. I literally chuckled out loud. Hadn’t heard that label, but knew exactly what she meant.

    You can afford to pay off student loans and not live with mommy if you target a money making career.

    • skydove

      I blame the academic-industrial complex for this, not the poor dummies who were never obliged to learn anything, including how to read with comprehension, and then found themselves in resort-type facilities set up to sell them “college degrees” upon completion of junk majors. The blanket term for such studies in the 1950s was “underwater basket weaving.”

      The increase in the national deficit due to defaulted-on student loans, sky-high labor nonparticipation rates, and associated social welfare costs will rival the costs of catastrophe-induced infrastructure repair almost everywhere.

      • EarnitYourself

        Agreed. The institutions are certainly guilty of selling educational experiences that don’t stand up to a simple test of ROI.
        Oddly, they get away with it unscathed, yet Trump gets sued.

        That aside, I’m not ready leave the victims blame free. I was no E. F. Hutton back then, mainly focused on beer and co-Eds, but I did put some thought into my student loan balances. I thought “based on what I’m hearing from graduates in my discipline, here’s what I’ll start at… can I handle normal bills and have these paid off in five years?”

        Oh, and underwater basket weaving was still used in the 80s. It works, with that visual.

        • skydove

          Trump University was low-hanging fruit: one of many ventures by an entrepreneur with a certain reputation and no powerful endowment fund or well-placed alums at his back. Other guilty institutions, whether for-profits that weren’t as obviously vulnerable or long-established schools who’d set aside their mission as educators in favor of rent seeking, got a pass.

          If I’d had student loan balances to worry about, I probably would have done what some of my girlfriends did — major in “education,” and walk right into a job that paid reasonably well and left summers free for other pursuits. I majored in American studies, which isn’t all that marketable unless you go on to law school or real journalism (via a master’s degree); but it served me better than English or philosophy or medieval history.

          • EarnitYourself

            Agreed on all points, with a couple to add.
            Based on your 50s college reference above, I’m inferring that you started your career in an earlier era. One where degrees weren’t a dime a dozen and simply having one gave one a leg up over the competition for upward mobility when there were promotions from within.

            Also, college degrees launch careers. Capability advances them.

          • skydove

            Yes, you’re right. I graduated in 1961, and jobs for “college girls” were easy to come by — we were happy to take just about anything. After that, it was up to us.