American college graduates — and their parents — appear to be increasingly reluctant to cut the financial apron strings.
About half of students expect to be supported financially by their parents for up to two years after graduation, according to a new survey of 500 students and 500 parents released Tuesday by Upromise, the savings division of Sallie Mae, the student lender. And almost half of students surveyed said they would be willing to pay their parents rent if they moved back home post-graduation, the survey found. Only 5% of parents say they would not let their child move back in with them after graduation.
Parents seem to be more lenient about letting their graduate children come back home. Some 36% of parents say they expected to support their children financially for more than two years, up from just 18% last year, and only 2.8% of parents expect their kids to have a full-time job after college and only one-quarter see them having any kind of job in their chosen field when they graduate. And if they moved in with their parents after graduation, 20% of students expect it would be at no cost to themselves.
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Waste of money. Get a viable skill needed by the business world, you will start making money now and not be loaded down with 50 to 100 K of debt. That old saying of "College grads on average get a million more dollars over their work lives" doesn't fly in the 2010's. Actually you will be lucky if you get a job in your field especially if you were stupid enough to choose useless liberal majors. Of course you could move to China. I sure they could use a liberal arts major at the Ministry of Propaganda.
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