Emerald Group Publishing Limited
Copyright © 2000, MCB UP Limited
Graduates return to the nest
Keywords Graduates, Debt, Lifestyles
Some 46 per cent of graduates - double the percentage seen in 1996 - return home after completing their degree. A third of graduates are still living at home a year after graduating, and one in five after two years. Graduates living at home admit that strict rules preventing them smoking, drinking and inviting partners to stay over are among their frustrations, but these are countered by the advantages of cheap rent and fresh laundry. David Blookfield, NatWest head of student and graduate banking, said:
Our research shows that, each year, more graduates are opting to stay on at home to save money. This highlights the fact that graduates are concerned about their finances and sensible money management is no longer being ignored.
More than a quarter of graduates left college in 1998 with debts of more than £5,000 - a figure that excludes student loans.