42% of parents have paid off an adult child's debt

Filed under: Debt, Personal loans

If you're a parent and have grown kids, have you ever paid off a debt of theirs?

That's a question that GfK Roper Public Affairs & Media recently posed to 1,004 adults in a survey for CreditCards.com. Two out of five adults, or 42%, said that they had paid off a debt for a grown child at some point.

Auto loans topped out the most likely to be paid (40%), with medical debt close behind (37%) and utilities (31%) following. Credit cards were next (30%), followed by student loans (29%) and the mortgage (11%). The entire story can be found here.

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42% of parents have paid off an adult child's debt originally appeared on WalletPop Blog on Mon, 14 Dec 2009 15:45:00 EST. Please see our terms for use of feeds.

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