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Got student debt? Move in with dad, columnist says

Washington Post business columnist Michelle Singletary wants you to pay off any student loans you have as fast as you possibly can, even if it means living rent free with friends or relatives.
Eric Schulzke, Deseret News Modified: July 22, 2014 at 4:10 pm •  Published: August 5, 2014

"I think of student loans as the cockroaches of debt," Michelle Singletary writes at The Washington Post. "The loans are hard to get rid of because for so long, people were told this was good and necessary debt and so it wasn’t a bad thing to have it hang around for decades.

"When people ask me about what they should do about their student loans," she writes, "I ask: What are you willing to do to get rid of them as fast as you can? And here’s my suggestion: Live for as long as you can with your parents, relatives or anyone who will allow you to stay rent-free or charge you a super-low rent."

It would appear that, at least on one point, many young millennials are following the Singletary plan, as record numbers are moving in with their parents, a new Pew report shows.

"Young adults ages 25 to 34 have been a major component of the growth in the population living with multiple generations since 1980 — and especially since 2010," Pew notes. "By 2012, roughly 1 in 4 of these young adults (23.6 percent) lived in multi-generational households, up from 18.7 percent in 2007 and 11 percent in 1980.

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