Real stories of Boomerang kids
It’s simply a fact of life for modern families that adult children tend to return home at least once after they initially leave the nest. That’s why young adults these days are so often called “boomerang” kids — they just keep coming back!
This article features some interesting anecdotes from real families with adult children living at home.
Who pays for grad school?
With so many adult children returning home after completing an undergraduate degree, families are facing a new question: who pays for grad school? A generation ago, it would have been virtually unheard of for parents to pay for a master’s degree, but with many grad school students or applicants still living with Mom and Dad, parents may end up bearing some financial burden when their kids go to grad school, even if they’re not paying the tuition.
This article offers tips on how to help your adult kids decide on financing options for grad school — and whether it makes sense for you to help foot the bill.
Your health insurance may cover your adult child — up to age 30!
Many states are passing legislation that requires employer-provided health care to extend coverage to dependent adult children living at home well past the tradition cut-off age of 19 for non-students.
For example, in Kentucky adult children lliving at home must be covered by the parent’s employer-provided health insurance up to age 25, whether they’re students or not. In New Jersey, depending on the situation, your adult child may be covered up to age 30.
This article looks at the issue from the employer’s perspective, but it also provides a good overview of what the new trends in legislation are. Take a look to see what teh current guidelines are for your state, then make sure you take advantage of them!
Should they stay or should they go?
Knowing a kid’s optimum exit date remains a mystery, according to a recent Globe article about adult children living at home.
There’s no perfect age to move out, Dr. Galambos says.
“That’s the million-dollar question,” she says. “It’s so important to take into account the individual and their strengths and weaknesses when making these decisions. Don’t push a kid out too soon. But don’t keep him or her there too long.”
65% of college grads move back home
Accordng to the US Census Bureau, 65% of college grads move back home with their parents. Yes, that’s 2/3 of young adults with college degrees returning to the nest after graduation.
This article explores how the situation is working for some families in the Arizona area.