WASHINGTON Good news for kids in debt: the average parent would hand over $5,700 to help his child, without expecting to be paid back, according to a new CreditCards.com report.
The amount bounces up to nearly $8,000 if the parents will be reimbursed.
And 90 percent of parents said they would give their kids something in the range of $1,001 to $5,000 regardless of whether they were to get paid back.
Parents surveyed were particular about what types of debt theyd help out with, however, with 57 percent saying theyd never assist in dealing with gambling debt and only 5 percent having no objection.
| Type of Debt | Would Never Help Pay | No Objection to Helping |
|---|---|---|
| Gambling | 57% | 5% |
| Credit Card | 16% | 13% |
| Auto Loan | 8% | 31% |
| Student Loan | 6% | 52% |
| Mor…
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