Apparently more college students are now living at home while they go to college. The continuing recession means they can’t afford dormitory stay anymore.
According to an article by Ann Carrns in the New York Times:
About half of college students lived at home in the most recent academic year to cut education costs, an increase over the last two years, according to a new study from Sallie Mae, the student loan giant.
During the academic year ended in spring of 2012, almost half of students from high-income families lived at home, compared with about one-quarter two years ago.
But it’s really only rich families—with incomes of $100,000 or more—who matter here because, in fact, students from poorer families have always lived at home while attending college.
Some 51 percent of college students lived at home in 2012. Only 44 percent lived at home 2011.
Read the Sallie Mae report here.