And why I would like to be a student forever.
Despite all the gun/rape/robberies/etc craziness, school is still a comforting and safe place to me. It is a place where nearly everyone has a significant number struggles in common: midterms, paper deadlines, boring lectures, expensive textbooks, fee hikes. In general, people at any given school are friendly and decent - and whatever weirdness they have is usually founded upon something like, say, a passion for dropping eggs off the top of a building.
There is so much to learn and being a part of school allows you access to information on a level most people off the street do not have. Libraries (although public university libraries are open to the public), databases, professors who are the experts, if not the ONLY expert, in their particular field, classes filled with people studying the same thing you are. They are also up to the challenge of lively debate.
You get to make things like this for the community, for fun, and because you can.
Every day is different. Or at least has something different about it. Studying and classes can be boring, of course, and too much change isn't necessarily a good thing. But it isn't as monotonous as a 9-5 job/life.
Oh my goodness, the flexibility! There is nothing like sleeping in on a week day, shopping during the "housewife hours," or knowing that you get most federal/state holiday in existence. Plus, June, July, and August anyone? Or at least the equivalent of it.
The fact that you are given incredible amounts of slack for certain things, just because you are a student. You get special checking account privileges, discounts nearly everywhere, and a special buffer-zone for mistakes made (with the assumption that you are going to learn from them, right?). Granted, there are other expectations out of you too. But they generally are reachable. And if they aren't, there is a whole network of people willing and able to help you reach it.
You are a write-off on your parent's taxes through the age of 24. You also get to be on their employer's health benefits (also until the age of 24, for CA that is). I no longer fit under this category, but my parents sure enjoyed it.
Disclaimer: Don't get me wrong here. I love being a part of the workforce as well. There is something oddly satisfying about balancing the check book (does anyone do this anymore, in our world of online banking?) and paying all the bills for the month in full and on time. Still, if I had to choose one or the other, I know what my choice will be.
What are your reasons for extending the student lifestyle?