NEW YORK--(COLLEGIATE PRESSWIRE)--Apr 19, 2005--Once the bags are packed, the commencement speeches and photo ops are long over, and the tearful goodbyes with friends are all said and done, most grads expect to move out on their own. But for many students, that`s simply not an option. In fact, more graduates than ever are opting to move back home rather than braving life on their own.
The latest U.S. census figures show that 25 percent of Americans between the ages of 18 and 34 are living with their parents (over 18 million adults). And according to MonsterTrak`s 2004 survey, 57% all college students will find themselves knocking on their family`s door come graduation.
After all, with astronomical tuition costs resulting in mind-boggling loans, credit card debt at an all-time high, housing costs in major metropolitan areas skyrocketing, and a flat job market among other factors, what`s a newly minted college graduate to do?
''Bustling metros like New York, Chicago and San Francisco beckon to recent graduates with the promise of greater opportunities and excitement,'' says Elina Furman, author of ''Boomerang Nation: How to Survive Living with your Parents the Second Time Around'' (Fireside, May 10, 2005; $14.00) and a former boomeranger herself. ''But it`s these very same areas that are virtually impossible for anyone making under $40K a year to afford. And as we all know, most starting salaries are far lower.''
A 2002-2003 National Student Loan Survey by the Nellie Mae Foundation reported that undergraduate student loan debts have risen 66 percent since 1997 to an average of about $18,900 per student. And when one considers that the average credit card debt for graduating seniors is now estimated at around $3,000, moving home often makes sense, especially if it means paying down debt or saving up money.
Thankfully, many graduates moving home today will find that the stigma of living at home has greatly diminished. But even so, there are a myriad of challenges to deal with, including navigating tense family dynamics, managing finances, dealing with privacy issues, and dating.
``In Boomerang Nation, I strive to eradicate the notion that there is something wrong with people who move back home,`` Furman points out. ``Unfortunately, even though so many of their peers are in the same boat, many boomerangers feel isolated and experience a loss of confidence upon returning home.``
And she should know. After spending two years in her family home, she spent another five years living with her mother and sister as roommates, only to move out a few years ago. It was Furman`s experience with the many trials and tribulations of living with a parent that inspired her to write this timely, information-packed guide.
``I wanted to write a book that would eliminate the stigma associated with living at home. While the statistics point to millions of young people nesting with their parents, there simply was not enough information to bring awareness to this topic. I even started a website (www.boomerangnation.com) that offers advice for boomerangers and a much-needed sense of community.``
As a successful author of more than twenty books and a popular speaker, Furman is planning to spread the word through a college tour and speaking engagements around the country.
``While some boomerangers manage to avoid the pitfalls of moving back home again, many don�t really prepare themselves adequately for the practical, economic, and emotional realities of moving back in with Mom and Dad. My goal is to help grads realize than not only can they go home again, they can survive and thrive there.``
About the Author
Elina Furman, author, lecturer, and life skills expert, has written and co-written over 20 books, including The Everything After College Book and Generation, Inc.: The 100 Best Businesses for Young Entrepreneurs. She has appeared on dozens of television and radio shows, including Good Morning America, CNNfn�s Entrepreneurs Only, New York Weekend Today, and Good Day Philadelphia, and has been frequently quoted in newspapers and magazines, such as The Wall Street Journal, The New York Times, The Chicago Tribune, and Newsweek. Furman lives in New York City.
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