Study finds half of college grads still rely on parents for $ - WSPA.com

Study finds half of college grads still rely on parents for $

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Two years out of college, half of graduates are relying on their parents or other family members for some sort of financial help, according to research from the University of Arizona. The study tracked more than 1,000 of its students over the course of five years -- from when they entered college in 2007 to 2013.

"These people started college during the boom period, then the market fell apart and they came out of college into a very different environment," said Ted Beck, president of the National Endowment for Financial Education, which helped sponsor the research.

Whether they rely on their parents for every single expense or just need a little help here and there, many graduates say their financial situations have caused them to postpone certain life goals -- like getting married, having children or buying a home.

About 28% of respondents said marriage is not an important goal for them, while 27% said the same about having children. Another 19% said owning a home isn't important to them, and 16% cited living on their own as unimportant.

"There's been a deferral of those things we would traditionally think people would start to do at this age," said Beck. "People are not willing to make those commitments until they're on more solid ground."

Along with piles of student loan debt, the tough job market has likely been a big factor, with only 49% of graduates saying they work full-time. Even among those who have full-time jobs, nearly half say they still rely on family for financial support.
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