Study: Parents provide $12,185 in aid to young adults

   May 8, 2012 7:20 am    0

 

About 62 percent of 19- to 22-year-olds get financial help from their parents, according to a recent study.

The average amount of support added up to $12,185, according to the study authored by University of Michigan researchers and presented last week at a meeting of the Population Association of America in San Francisco.

Most of the support – 42 percent – was to help cover bills. Tuition aid was the next highest, at 35 percent, followed by vehicle costs, and rent away from home.

 

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