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More parents asking college kids to live at home - Live5News.com | Charleston, SC | News, Weather, Sports

More parents asking college kids to live at home

(CNN) – More parents hoping to spare their families from college debt are asking their children to forgo the dorm and to instead live at home.

Fidelity surveyed 2,000 families with kids 18 or younger.

The resulting study found that the average family hopes to pay for 57 percent of the total cost of college, saying the rest will come from loans, scholarships or gifts.

Right now, the average annual cost of a private four year college is just under $37,000.

Almost half of the parent surveyed said they're considering their kid living at home and commuting to school to save money.

That's up from 34 percent in 2007, when Fidelity first conducted this survey.

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