<p>[url=<a href="http://www.washingtonpost.com/wp-dyn/content/article/2008/05/17/AR2008051700161.html%5Dwashingtonpost.com%5B/url">http://www.washingtonpost.com/wp-dyn/content/article/2008/05/17/AR2008051700161.html]washingtonpost.com[/url</a>]</p>
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Continuing a three-year trend, just under half of prospective graduates, 48 percent, plan to boomerang -- or move home -- after graduation, according to the online career resource company.
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Chief among the reasons recent graduates say they can't leave home: college loan debt. Forty-two percent of 2007 graduates said they had student loan debt of $25,000 or more, while another 33 percent have a credit card balance of more than $5,000.
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Thirty-two percent of employers expect to offer recent college graduates starting salaries between $30,000 and $40,000, according to CareerBuilder.com, the nation's largest online job site. An additional 15 percent will offer between $40,000 and $50,000. Only 11 percent of employers surveyed said they will offer more than $50,000. Forty-two percent will offer less than $30,000.
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<p>We have lived it with ours but without the loans fortunately. The job market is tough and living expensive round here. </p>
<p>She goes on to detail the things you need to discuss regarding finances of your boomerang. In the end, she recommends being into their finances, including checking bank statements and loan payments, until they are independent and move out, making sure they are paying off loans, etc instead of $12 martinis. We never did that. What about others?</p>
<p>My best friend just survived boomerang twin boys, now aged 25. One remained in his college town for 1 and 1/2 years past graduation,managing a retail food business.Then he returned home w/o a job after a nasty relationship breakup.Got a very decent job through family connections, got back together with the girl (she moved to his location) moved out of parents house, broke up with the girl again within 4 month and moved back home.Remained home for a few months got some $$ together and moved into a Manhattan apt share (his share..3 roomates..is 1500 a month!)
Second twin arrived home from college and didnt budge until a few weeks ago.Went through the "I'm going to be a financial analyst" scam,paid all the $$ for the series tests,hated the job and failed at it miserable. Lied to his parents about his commissions,bought a car and a flat screen TV.Unbeknownst to them he was opening up credit cards to pay other credit cards, not paying his student loans, etc. Car was ultimately repocessed. Was fired from the analyst job,stayed in his room depressed for quite a while.Finally made a connection with a girl who helped him sort things out,he's embarked on a (maybe) lucrative franchise partnership..his part sweat equity...with his former high school/college summer employer..also retail food. Just recently moved out with the girlfriend.
My friend acknowledges she and her H should have been more involved in this twins finances,maybe if he would have asked for their help they could have prevented the car repocession.He was able to negotiate on the student loans.
She doesn't hold out much hope for their departures and expects "bouncebacks".</p>
<p>My D is living home after graduating college. She has no student loans, but doesn't make enough in her job to live on her own around here. She just took out an auto loan, pays her own insurance, helps out around the house without being asked, and works all the overtime she can. I know she would rather be in her own place, but at least she can save a little more while living here until her salary improves.</p>
<p>How I wish my kids would boomerang temporarily !!!</p>
<p>After college, both were gainfully employed and never came home, except for holidays. I know somehow they have fulfilled most of our goals, but do they have to live so far? (one is on the other side of the coast, and one is 400 miles away)</p>