Memo to High School Seniors: The Economic Case for Not Leaving Home

Tea Party Economist reports:

Dear High School Senior:

If you do not leave home after high school, you can save a lot of money. So can your parents.

Parents worry about boomerang kids. The parents send them off to college for $100,000 (after-tax money), and then the kids come back home to live after graduation. They can’t find jobs. This is bad psychologically for the kids and the parents.

Here is how you and your parents can avoid this: don’t leave home after high school. Don’t ask them to toss you as a $100,000 boomerang.

You can quiz out of the first two years of college by using CLEP exams and DSST exams. This will cost about $2,000. Buy textbooks used or get them through inter-library loan for free. You can easily pass one six-credit CLEP every six weeks. If you start on the day after you graduate, by the time you would normally be returning to college as a sophomore, you will be a junior.

An article well worth your time.