Your next steps
You might have just waved them off to higher education, but the likelihood is that they’ll be back. Even when they have graduated, many students ‘boomerang’ back home while they look to start their career or save money to buy a place of their own.
About half of graduates aged 22 to 24 now live with their parents*, say researchers. So what advice can parents give to help their graduated children move forward?
Explore the options
A good tip is to encourage them to apply for jobs before they graduate from university, leave college, or finish their training scheme. Securing a position ahead of time can help them to plan their higher education exit – and the earlier they apply the better as the marketplace won’t be so crowded..
One in ten students also plan to start their own company when leaving university, which may require additional guidance and support. Lloyds Bank has more business mentors in the UK than any other bank who can help to start and grow any business. Find out more by visiting mentors me.
Some students will also return to academia after they graduate, and the cycle of financial support will begin again. If your son or daughter is planning on postgraduate study, a free personal financial review may be beneficial.
Help and support
The NHS has tips to help your child cope with the stress of higher education.
Worried about how they will manage their debt? Lloyds Bank offers some realistic advice.
Visit The Student Room for tips to help them secure a summer job.
*According to the London School of Economics