Dive Summary:
- About two-thirds of college students chose to live at home or with relatives to save money in 2012-2013, according to a Sallie Mae survey.
- The cost of room and board is rising along with tuition: Living costs on campus jumped more than 10% in the last five years at private, four-year colleges; at public institutions, the increase was nearly 15%.
- The trend is not just with lower-income families: Half of students from households with incomes over $100,000 chose to live at home to cut costs, the survey said.
From the article:
... Americans under age 34 think it is acceptable for adult children to live at home with their parents for up to five years, according to a survey to be released Coldwell Banker Real Estate on Tuesday. As August began, the non-profit Pew Research Center found that the percentage of Americans ages 18 to 31 living at home is a record 36 percent, up 4 percent since 2007. ...