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