Grandparents Are Providing $370.7 Billion in Financial Support to Their Grandchildren, According to MetLife Mature Market Institute Survey

Almost two-thirds of America’s grandparents have provided financial support to their grandchildren during the last five years, 40% for general purposes and 26% for education, according to the MetLife Mature Market Institute’s QuickPOLL, Grandparents: Generous with Money, Not with Advice. The average amount provided was $8,661, or about $370.7 billion total in the last five years. One-quarter (25%) say the economic downturn has caused them to increase the help they give to their grandchildren.

Grandparents Are Providing $370.7 Billion in Financial Support to Their Grandchildren, According to MetLife Mature Market Institute Survey
Source: Yahoo! Finance