Parents are willing to help out, or bail out, their adult children in many circumstances.
But don’t expect help if you run up your credit-card bill or want to buy a house.
A survey released by MetLife’s Mature Market Institute today found that nearly half of the parents surveyed feel they have a “strong responsibility” to provide financial support for their children’s higher education. They do stop short of paying 100% of college tuition if the cost is particularly high.
Only 11% feel they would have the same obligation to help their children financially if they get into debt due to overspending. About 2,100 Americans ages 21 to 65 with at least $40,000 in household income were surveyed online in June and July by Mathew Greenwald & Associates.