85% of college grads return to nestBy JOHN AIDAN BYRNELast Updated: 4:31 AM, May 9, 2011Posted: 11:25 PM, May 7, 2011Beaten down by heavy debt and out of work, todays college grads are the new underclass. Many are struggling to stave off financial ruin.Its so tough that some eight out of 10 graduates this year are moving back home, according to a recent poll by a consulting firm. Some will continue their studies — betting on an economic turnaround later — and others are criss-crossing the country, desperate for work.Alex Hoffman, 23, who now lives in Atlanta, is looking for a well-paid tech job in New York City. Its been 12 months since he graduated from Vanderbilt University with a B.S. in human and organizational development. He spent the past year barely making ends meet with his own college services company.Forget about the unemployment dips. It just hasnt lifted enough grads. "Theres a huge rate of unemployment among graduates," said Hoffman, whos packing up and moving to Park Slope, Brooklyn, to try his luck in the Big Apple. "Some of my friends who graduated two years ago still dont have jobs, or else theyre working at the local guitar center."
Full article here: 85% of college grads return to nest – NYPOST.com.
