Course Request is coming up soon, which means I am facing a harsh reality – I only have one semester left at Virginia Tech. Scary. Really scary. Even scarier, though, is the fact that within six short months of leaving this beautiful place, I’m going to get punched in the face with a little reality I like to call student loans. Student loans for the out-of-state tuition I’ve been paying for the past 3-½ years. OUCH.
Although I would love to get my dream job right out of college, we all know that’s not happening. Who knows, I might not even get a job right away. I really don’t know what I’ll do after graduation if I don’t get a job. I can’t help but think that living at home for a few months might be the smartest option. My mom could use some help around the house; I could work and save money before my loans kick-in. But is it worth it? Or would I rather have my own place, take the chance and live off of tacos and pasta salad?
When I was in high school, I thought I would leave my hometown and never look back. I never pictured myself living at home during summers, but I didn’t realize how difficult and excessively expensive it is to have internships away from home (especially ones that don’t pay.) I’ve always enjoyed coming home during the summers just to work and relax. I’ve managed to get internships close to home so that I don’t have to pay rent for an internship, as well as in Blacksburg.
As I get closer to my last semester here at Tech, I constantly think about the future. I think about what would happen if I got a low-paying job right out of college and couldn’t afford my own place. Is living at home the best option for college graduates these days? Am I alone in wondering about this decision?
Things aren’t like they used to be. The job market is increasingly competitive and a graduate degree seems to be the new undergraduate degree. Each year, it becomes harder and harder for college graduates to get jobs right after school.
According to a recent study, 35% of unemployed college graduates have been without a job for more than a year, the same rate as unemployed high school dropouts. Not only that, but the long-term unemployment rate, for those 25 and older without a job is nearly the same across all education levels. The increasing unemployment for those right out of college is leaving young graduates with tough decisions – to move home or not to move home.
A study conducted by Twentysomething Inc., reported that around 85% of 2011’s graduating class were forced to move back home. 2011 college graduates also faced historic amounts of student loans – an average of around $27,200 for those who took out loans to finish college.
Sources: www.huffingtonpost.com, pophangover.com