I feel for young kids graduating from college today. I read an article by the National Endowment for Financial Education & the National Center for Policy Analysis that drives home a major issue/trend that needs to be reversed soon. You hear about the high unemployment for young workers in Europe, but based on this study we are not going to be far behind.
59% of Parents are Providing Financial Support to Children 18-39 Who are No Longer in School
* 48% are helping with living expenses
* 35% are providing insurance coverage
* 41% are aiding in transportation costs
* 28% are helping with medical bills
* 29% are handing out spending money
As I keep reminding my children, what field you study in college is very important… You need to be employable. I think colleges are offering too many majors that young kids graduate with that can’t help them get hired in today’s economy. Shame on our education system!