An editorial published in the Oct. 13 issue of The Aquinian suggested that learning to budget can help students step into adulthood, but many have disagreed.
Those who have made the decision to stay at home while attending university have said their convenient budgeting plans have only made them more dependent.
Lyle Robichaud and Becky Morrell are second-year students at St. Thomas University who travel together. Robichaud says that while he’s been able to save money, living with his parents has kept him from being completely independent.
“We’re still pretty independent, we can come and go as we please,” he said. “But if we want to do something up here, we have to find a place to stay, where we’re going – it is difficult.”
A 2012 study conducted by Sallie Mae, an American financial services firm specializing in student loans, reported that about half of college students lived at home in that academic year to cut education costs, an increase over the previous two years.
Similar statistics don’t exist for Canada, but an Ipsos Reid poll for ABC Life Literary Canada found that 55 percent of Canadian parents agree that without government savings their child would not be able to pursue post-secondary studies at all.
Robichaud said that his decision to live at home primarily based around saving money.
“For me, it wasn’t necessarily having the money, but it was the fact that I don’t want to have any debt when I get out of here,” he said. “For me, [it’s been effective] because I’ve got no debt… It’s worked so far.”
Morrell agreed, saying that, more than anything, living at home is inconvenient.
“I’m in the process of trying to move out,” she said. “It didn’t bother me until this year – last year I was fine [living at home], but now I just want to be on my own and be totally independent.”
Robichaud said he doesn’t regret living at home either, but currently has no desire to move out.
“The pros weigh out the cons,” he said. “Like, yeah, I’ve got to plan a little bit before I come up here, but it’s only a half an hour drive… So, for me, I don’t regret living at home, I just wish there was another way to get through university without debt and not have to live at home.”
Originally written for a class at St. Thomas University.