More college graduates living with parents due to a lack of jobs

As the economy continues to struggle to recover, many students are finding that their post-college dreams are simply unobtainable - at least at the moment. With education loan debt and no one willing to hire them, The Wall Street Journal reports that many graduates are forced to move back home with their parents after earning their degrees.

The latest U.S. Census data shows that approximately 5.9 million Americans between the age of 25 and 34 live with their parents. More than one-fourth of these people also have bachelor's degrees, showing the difficulty that graduates are having when it comes to landing jobs after college.

"If the economy remains weak, you may see more parents sacrificing their financial health for their struggling adult offspring," National Endowment for Financial Education president Ted Beck told the news source.

Those who want to reduce their tuition costs may want to apply for college grants and scholarships. This money can help curb education-related expenses and lower their dependence on student loans, which can result in mounting debt. Unlike education loans, grants and scholarships do not need to be repaid over time. 

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