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Business & Economy

Study: Nearly Half Of Young Adults Move Out With Finanical Help From Parents

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Richard Foster
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Flickr Creative Commons

A study from NC State University found that more than 40 percent of young American adults have moved away from home, but they aren't financially self-reliant.

Sociologist Anna Manzoni says these 25- to 32 year-olds are "partially independent".

"These are people who are independent in a way but not in another, so that would mean that they would be living by themselves but still receiving some financial assistance from their parents."

Manzoni analyzed data from UNC's National Longitudinal Study of Adolescent to Adult Health. She found that partially independent young adults were more likely to have gone to four-year colleges and come from higher socioeconomic backgrounds.

"If your parents have more money, they are probably also more likely to finance your independence, the fact that you move away to go to college and then they might help you to pay your tuition fees."

Manzoni says the consequences of this prolonged assistance are not yet clear. She did find that people who attended college were more likely to become financially independent by their early 30s.

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