Financial Tips for Recent College Graduates & Their Parents

If you are saving for your child’s college education, you may need to save a little more for financial support after graduation.

According to a new study by American Express, 80% of graduates move in with their parents after graduation due to financial instability, and almost half of recent graduates are receiving financial assistance from their parents.

“The average student loan debt is $24,000,” says Bill Hardekopf, CEO of LowCards.com and author of The Credit Card Guidebook. “Graduates may also have another $3,000 in credit card debt. These young adults are

financially stressed before they enter the work force, and many have to turn to their parents for help. But these parents have just spent a lot of their money to pay for the college education and need to be saving for their own

retirement. The parents may need their own financial help.” Read Full Story

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