College students see savings by living at home
PUYALLUP, Wash. -- It's a rite of passage to start college and move away from home. But in this economy, more students are seeing an easy financial fix.
There's a growing trend of saving money by living with mom and dad.
If anyone wanted to escape life at home, you'd think it would be 18-year-old Stephen Washburn. Chaos is a way of life for his Puyallup family.
"It's kinda normal with me having to brush my teeth with people. Having to get dressed with other people in the room," he told us one morning while making his bed.
The college freshman still lives at home with mom, dad, and six brothers and sisters, who range in age from 17 to two years old.
"I still get ready like I'm still in high school. I just gotta drive farther," Stephen says.
Stephen is a freshman at UW Tacoma. He'll transfer to classes on the main Seattle campus next year, but will keep commuting from home through graduation.
According to a recent survey by the National Retail Federation, the number of college students living at home is up, from 49 percent last year to 54 percent this year.
When his parents extended the offer to stay home, Stephen quickly saw the savings.
"I'd have to pay for food and housing and parking. I don't have to pay for that here, so it saves me a lot of money," he explains.
On top of being a full time student, Stephen works part time in Seattle.
He's responsible for his own tuition, books and gas money. But that's it.
There's a growing trend of saving money by living with mom and dad.
If anyone wanted to escape life at home, you'd think it would be 18-year-old Stephen Washburn. Chaos is a way of life for his Puyallup family.
"It's kinda normal with me having to brush my teeth with people. Having to get dressed with other people in the room," he told us one morning while making his bed.
The college freshman still lives at home with mom, dad, and six brothers and sisters, who range in age from 17 to two years old.
"I still get ready like I'm still in high school. I just gotta drive farther," Stephen says.
Stephen is a freshman at UW Tacoma. He'll transfer to classes on the main Seattle campus next year, but will keep commuting from home through graduation.
According to a recent survey by the National Retail Federation, the number of college students living at home is up, from 49 percent last year to 54 percent this year.
When his parents extended the offer to stay home, Stephen quickly saw the savings.
"I'd have to pay for food and housing and parking. I don't have to pay for that here, so it saves me a lot of money," he explains.
On top of being a full time student, Stephen works part time in Seattle.
He's responsible for his own tuition, books and gas money. But that's it.