Students Receive Less Funds From Parents – OnlineBusinessDegree.org
The majority of young adults are not receiving financial support from their parents, reveals a recent poll conducted by Clark University.
According to the Clark University Poll of Emerging Adults – which was based on 1,029 interviews – 69% of adults ages 18-29 reported receiving little to no financial support from their parents or only occasional support, when needed.
Additionally, results found that parental support decreases as the young adult gets older, with 28% of the 18-21 age group receiving regular support for living expenses, compared to 13% of the 22-25 age group and 6% of the 26-29 age group.
Though the poll shows that today’s young adults are exhibiting independence, financial support from parents could prove beneficial when helping to fund areas such as higher education. The cost of college is a big factor for students when deciding on which school to attend.
Unfortunately, while many parents have intentions of helping their children pay for school, often times parents aren’t financially prepared to help as much as they would like to.
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