Parents Putting Financial Needs on the Line to Help Kids Through College: TD Survey

A new survey finds that over 90 percent of Canadian parents are financially supporting children through post-secondary studies to the detriment of their own financial well-being. The survey from TD Bank Group says 94 percent of Canadian parents are giving their children money during their university and college years. Of those, 71 percent say doing so leaves them struggling to meet their financial needs and additional activities. Nearly half of students say they are not able to pay for their basic needs like food and housing, with 65 percent defining themselves as financially unstable, according to the survey. “Our survey shows that many Canadian post-secondary students wish they knew more about budgeting and managing their finances, and it’s encouraging to see them interested in seeking advice,” said Emily Ross, vice president of Everyday Advice Journey at TD....