Given these economic times, chances are your college student may be moving back home after graduation.  It will be an adjustment for both of you.  Keep in mind that your young adult is just that - a young adult.  He or she left bright eyed and ready to learn.  However, now they have received their education and are looking toward their future.  

When they move back home, the best thing to do is to have a family meeting.  Clarify your expectations and have them do the same.  This will alleviate some friction or misunderstandings in the future.  

It is important to realize that even though your little boy or girl will always be that in your eyes, in their minds they are an adult full of life experiences.  Therefore, clearing the air as they move in will go a long way in preventing any issues later.  Discuss things like employment, financial contributions, household duties, length of stay and things that will be deal breakers.  This will lay the foundation for their stay with you and expectations on both ends.  The honeymoon of having them home will expire.  Therefore, I can’t emphasize the importance of this.  So, take the time to do it.  It will pay you and them dividends in the future.