Quote:
Originally Posted by troutman
I think it is better for students not to live at home for University (even if studyng in the same city where the parents live).
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Super hard disagree from me on this unless you have wealthy parents that are paying for your schooling and accommodation/living expenses.
For people without the kind of wealth it takes to support a kid living on their own while going to school without taking on debt, then go nuts. For the vast majority, though, a gap year where you get paid to live elsewhere is the way to get that experience without saddling yourself or your family with unnecessary debt. Like, work at a ski hill or resort or cruise ship or something to get a worldly/independent-living scenario and save money for school at the same time.
Living away from home for university adds a good $20k at least to the annual cost of education. Casually adding a minimum of $80k to the cost of education is financially irresponsible when you could make that cost $0 (again, unless you're rich). Living away from home for school is an incredible luxury that is really only for the wealthy.
And even if you
can afford it, you have to be able to afford it
and then some or the opportunity cost of spending that money for the ####s and giggles of it is an egregious waste if it means you then don't have that $80k+ kicking around to help with start-up expenses for life (eg a down payment).
I'm insisting my kids live at home through school because I can't stomach the thought of our familial money evaporating like that. I'm not working an extra few years just so they can live in an apartment 12 minutes away from a perfectly good all-expenses-paid bedroom, stocked fridge, free reign of the basement, and essentially no rules.