Getty Images Alys Tomlinson
You may have cut them off after college (or even thrown into the adult world) earlier), but if the time is tough, there's a chance you'll be ready to pocket.
According to a recent survey, 90 percent of parents, whether or not they expect to be repaid, will give their child a degree Borrowing Debt – On average, $ 5,705 without reimbursement And if you know you can get your bailout back: $ 7,936
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The study was funded by CreditCards.com, an information point for credit card information Marketplace and a news site, Ted Rossman, an industry analyst for the site, reported Men's Health that he was surprised by this parental generosity. We see all of these studies indicate that about 40 percent of Americans have no Noteinsparungen or can not afford a car repair worth of $ 500 – and then we see that parents are still very generous with their children. It was definitely crazy.
Parental altruism also seems to be spread over income levels. Whether their annual household income was below $ 30,000 or between $ 50,000 and $ 70,000, the parents were about as likely to help them.
Generosity, of course, has its limits, and the kind of debt a child took was very important. Fifty-seven percent of parents would never help their child pay the gambling debts, while 68 percent would happily support medical expenses and 52 percent through student loans.
CreditCards.com conducted a similar study back in 2009 (immediately after the Great Recession) that found similar support for various sources of debt (parents were also willing to pay more than $ 7,000). With credit card debts, however, the helpfulness of the parents has changed.
"In 2009, 28 percent of parents said they would never help their child with credit card debt, and now it's only 16 percent that would never help," notes Rossman. "I think that shows that credit card debt has been much less stigmatized. There used to be this idea that if you have credit card debt, it's because you were irresponsible and spent too much money online or at the mall.
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Rossman believes that many Americans have become more understanding since the Great Recession of carrying a credit card credit. Now they know that these excessive expenses may fall on things like a student loans and not just reckless shopping.
But for all your generous parents this holiday season, remember a golden rule: always give what you can afford.
"We do not want parents to help their children so much that they jeopardize their own retirement and their own financial well-being," says Rossman. "It's just a vicious circle and it's not good for anyone. You can not get a loan for retirement in the same way you would for a medical debt or a student loan or a car loan. So if parents give too much and endanger their own financial security, they could go back to their children immediately and ask them for help . "