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"after college" — it's really saying nothing. In fact, I expected it much higher - it essentially includes the parents' legacy. Considering this, it's dramatic

"after college" — it's really saying nothing. In fact, I expected it much higher - it essentially includes the parents' legacy. Considering this, it's dramatically low, right? :D

tedajax 10y ago
Yeah this statement doesn't seem very far off from "100% of children receive financial aid from their parent or guardian." I too am impressed that as much as 25% don't get anything at all (I guess the definition of financial aid could change this, does buying you a few meals count or is it specifically dollar transactions?)
lucasmullens 10y ago
I'd imagine most millennials haven't collected any inheritance yet, right?
- loeg 10y ago
  Yeah, the actuarial tables should confirm that.
- vkou 10y ago
  I am not a millennial, and I have not collected any inheritance. The value of having a multi-million-dollar safety net, (Or even someone to pay for a bus ride home, and a room to live in), however, cannot be understated.
spyspy 10y ago
"Financial assistance" is also very vague. My parents gave me $20 for the train because I wasn't carrying any cash over Thanksgiving. Does that count?
- omegaham 10y ago
  I'm more interested in the secondary statistic that they gathered, that being that "two-thirds say they couldn’t get by without their parents’ help." That's easier to quantify.
- km3k 10y ago
  There's a list of what was counted: Health insurance, Home buying/renting, Auto insurance, Utilities, Spending money, Vacations, Large purchases, Online accounts (e.g., Netflix), Taxes Some could argue that counts as "spending money", but I don't think it would count unless it was a recurring thing.
ryandrake 10y ago
I was surprised it was that high. Really? 3 out of 4? I mean I know college loan expense is much, much higher now than it was when I went to school, and current graduates have a really bad deal. But don't hardship deferrals still exist and other options for low-income graduates? Don't people get roommates anymore to offset rent? I had crushing (6 figure) student debt after grad school, but it was really only crushing my ability to save--not crushing my ability to eat and get a roof over my head.
- Jtsummers 10y ago
  They also included being on the parents' health insurance policies, which with ACA is a no-brainer for many young adults. It's far cheaper for them, at a modest cost to the parents. Even if they pay their parents back the cost they're still saving versus paying for individual coverage (most of the time). The definition, then, of "financial assistance" is very broad and covers more than just literal cash.

"after college" — it's really saying nothing. In fact, I expected it much higher - it essentially includes the parents' legacy. Considering this, it's dramatically low, right? :D

tedajax 10y ago

Yeah this statement doesn't seem very far off from "100% of children receive financial aid from their parent or guardian." I too am impressed that as much as 25% don't get anything at all (I guess the definition of financial aid could change this, does buying you a few meals count or is it specifically dollar transactions?)

lucasmullens 10y ago

I'd imagine most millennials haven't collected any inheritance yet, right?

loeg 10y ago
Yeah, the actuarial tables should confirm that.
vkou 10y ago
I am not a millennial, and I have not collected any inheritance. The value of having a multi-million-dollar safety net, (Or even someone to pay for a bus ride home, and a room to live in), however, cannot be understated.

spyspy 10y ago

"Financial assistance" is also very vague. My parents gave me $20 for the train because I wasn't carrying any cash over Thanksgiving. Does that count?

omegaham 10y ago
I'm more interested in the secondary statistic that they gathered, that being that "two-thirds say they couldn’t get by without their parents’ help." That's easier to quantify.
km3k 10y ago
There's a list of what was counted: Health insurance, Home buying/renting, Auto insurance, Utilities, Spending money, Vacations, Large purchases, Online accounts (e.g., Netflix), Taxes Some could argue that counts as "spending money", but I don't think it would count unless it was a recurring thing.

ryandrake 10y ago

I was surprised it was that high. Really? 3 out of 4? I mean I know college loan expense is much, much higher now than it was when I went to school, and current graduates have a really bad deal. But don't hardship deferrals still exist and other options for low-income graduates? Don't people get roommates anymore to offset rent? I had crushing (6 figure) student debt after grad school, but it was really only crushing my ability to save--not crushing my ability to eat and get a roof over my head.

Jtsummers 10y ago
They also included being on the parents' health insurance policies, which with ACA is a no-brainer for many young adults. It's far cheaper for them, at a modest cost to the parents. Even if they pay their parents back the cost they're still saving versus paying for individual coverage (most of the time). The definition, then, of "financial assistance" is very broad and covers more than just literal cash.