As if student loans aren’t taking enough of a toll on the younger generation — those actually heading for the halls of higher learning — their parents might also be in hock up to their eyeballs before the kids collect those very expensive sheepskins.
That’s because 60 percent of U.S. parents say they’re willing to go into debt to pay for their kids’ college education — and that’s with 58 percent of parents saying that doing so makes it tougher to keep up with all their other financial obligations.
The Foundations for the Future report, latest in its Value of Education series from HSBC Group, found that most parents would compromise their own financial well-being in order to finance their children’s higher education.
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