RBC poll suggests more post-secondary students are relying on parents to complete their education – National

Inflation is encouraging more post-secondary students to stay home with their parents when they finish post-secondary education than a decade ago, according to an RBC poll.

The survey, conducted online by Ipsos between June 29 and July 12, shows nearly half of respondents, 47 percent, say they will be living with their parents this school year, compared to 36 percent in 2013.

The RBC Post-Secondary Student Financial Preparedness Survey of 1,000 people aged 18-29 finds more students rely on financial support from their parents – around 43 per cent, compared to 29 per cent 10 years ago.

Jason Storsley of RBC’s Youth and Young Adults team says students don’t just rely on financial support from their parents, but they also receive help setting their financial goals.

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The report says 45 percent of students expect to graduate with debt of up to $20,000, up from 30 percent in 2013.

No margin of error can be attributed to the poll, as online polls are not considered truly random samples.

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