The survey revealed 55% of grandparents are contributing financially in some way towards their grandchildren’s education. It turned out grandfathers, 23.8%, were more likely than grandmothers, 19.6%, to set up funds for college tuition.
The majority of grandparents, 22%, were contributing up to $2,000 annually while 31% estimated contributing between $50,000 and $250,000 over their lifetime.
Interestingly the majority of grandparents, 54%, responded that their children were raising their grandchildren more leniently than the grandparents did. A close second at 43% was the belief the grandparents children gave fewer household responsibilities than the grandparents did.
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