Parents carry their kids’ tuition debt

Parents are taking on their children’s debt burdens to give them the best shot at a comfortable life—even if that means sacrificing their own financial goals, the CBC reports.

Around 33% of parents will postpone their retirements to help their kids pay for school, a recent CIBC survey says.

Read: Education costs to keep ballooning

The CBC spoke to financial planner Ross Campbell, 65, who says he will work longer to cover the cost of putting his two daughters through school.

The survey also found a third of parents plan on going into debt so their kids don’t have to.

Read more here.

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Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.