On May 3rd, USA Today focused on a University of Michigan study regarding the proportion of parents who provide
financial assistance to their 19- to 22-year-old children.
The lead author of the study, Patrick Wightman, found that 62% of young
adults collect funds from their parents.
About 42% of parents assist with bills, 35% pay for a portion of tuition,
and 23% help with vehicle costs. Additionally,
a little more than one in five parents contribute to their children’s rent and
11% provide their kids with loans.
82 % of wealthier parents (those making $99,910 or more a year) supported
their children with some form of financial assistance, compared to 47% of lower
income parents (those making less than $37,274). However, regardless of wealth, parents who provided money to
their children sent an equal share – about one tenth – of their income.
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About TeachingwithData.org
TeachingWithData.org is a partnership between the Inter-university Consortium for Political and Social Research (ICPSR) and the Social Science Data Analysis Network (SSDAN), both at the University of Michigan. The project is funded by NSF Award 0840642, George Alter (ICPSR), PI and William Frey (SSDAN), co-PI.
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