Many parents prioritize their child’s postsecondary education over own financial health: Survey

A recent survey of 1,000 Canadian parents conducted by the education savings company Embark Student Corp suggests that parents are choosing to financially support their children’s postsecondary education at the cost of their own financial wellbeing. Almost three-quarters (73%) of parents said that they felt postsecondary education was essential to their child’s future success and feared that their child’s postsecondary options would be limited if they did not offer their financial support. While many parents shared that they were wrestling with the cost of living, the survey found that nearly two-thirds (61%) felt that supporting their child was more important than their own financial health.

Financial Post | Embark