Poll: Most students are financially dependent on parents
Last reviewed: 16.10.2021
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More than 60% of young people aged 19 to 22 receive financial support from their father and mother.
Experts from the Michigan Institute reported such results of the study.
As it turned out, parents give their children an average of about 7 thousand dollars a year. This amount includes payment for education at the institute, rent for rent and transportation.
The study is the first to adopt data representative of the nation in order to calculate the financial support that fathers and mothers provide to their own student children and to analyze how the amount of assistance can vary depending on families and individual characteristics.
The results are based on 2,098 interviews conducted between 2005-2009 with students and their parents. The study was presented by Patrick Whiteman, Robert Shawnee and Keith Robinson of the Texas Institute in Austin during the annual conference of the United States Population Association, which was held in San Francisco.
Among the key results:
- approximately 42% reported that the father and mother help pay their bills, with the average annual financial support reaching about $ 1,741;
- almost 35% said that parents pay their studies at the educational institution ($ 10,747);
- approximately 23% receive from the parents compensation for transportation costs (9682 dollars);
- Rent of about 22% of students is paid by the father and mother ($ 3,937);
- 11% said they received a loan from their father and mother ($ 2,079), and approximately 7% received cash gifts ($ 8,225)