Students not at home with ‘fly the nest’ plans
Many students planning to start university this year will be continuing to live at home with Mum and Dad even though their parents would prefer them to fly the nest.

Up to a fifth of students will be living at home this year, a report from Lloyds TSB shows. Money worries were the main reason students cited, but that’s not the whole story.

Of the students surveyed, over a third (35%) said that if they didn’t live at home, it would be too expensive for them to go to university. Two fifths (38%) admitted that while it would be possible to leave home, they would need to take on additional debt to do so.

Nearly three quarters (73%) of parents surveyed confessed that if money wasn’t an issue, they would want their offspring to move out of home when they go to university in order for them to gain independence.

In contrast, two fifths (42%) of young people admitted that living at home was ‘an easy life’ and even if they could afford to move out, they’d choose to stay put.

Students who are intending to live away from home said making the money stretch is a concern. However, more than half (58%) think the independence they’d get is worth the extra financial burden while nearly a third (32%) said that they can’t stay at home as the university they have chosen is too far away.

Only one in ten have no concerns about the additional debts that living away from home will bring.

The main reasons students gave for leaving home were:

To be close to the university campus - cited by over three quarters (77%)
To gain independence - mentioned by 72%
Three fifths (60%) are attracted by the social aspects of living away from home
Nearly a quarter (23%) admit that they wanted to escape their parents’ clutches.
Nearly half (48%) of students said they plan to live in university halls of residence while 44% intend to live in a shared house.

Family therapist Phillip Hodson, said: "Going to college used to be the time when children left home. Both sides welcomed the end of domestic and territorial overcrowding. Parents could re-decorate their messed-up living space; children could become adults forced to make their own decisions."

"But, where once students had grants, now they face debts and one in five of them will continue to live at home largely for reasons of cash.

"The psychological consequences of staying at home may be severe. Stay-at-home youngsters tend to remain adolescent with damaged powers of personal decision-making. Indeed, some of them – especially boys – get stuck at home until they are 30 or older partly because they have not managed this crucial break at 18."

"They may well believe: "the living is easy" but only because their parents continue to cook, wash up and pay the bills. The catch is that young people are the ones being deprived of survival life skills."

Marcus Banks Lloyds TSB student banking said: "With student debts escalating, living at home could seem like an easy way to save money. But for many, going to university isn’t just about getting a degree – it’s also about learning to live an independent life."

"Before making a final decision about whether to move out, it’s worth thinking carefully about all the financial help available and weighing up the pros and cons."