MetLife Mature Market Institute reports 55% of grandparents contribute financially to their grandchildren’s education.
Of this group, 35% plan to provide a total of $50,000 or more over their lifetimes for the education of all their grandchildren, according to the MetLife Grandparents Poll, conducted by Zogby International.
Forty percent of grandparents say they make no such financial contribution; 5% were unsure or did not answer.
On a per-year basis, 22% expect to contribute up to $2,000, while 14% will provide between $2,000 and $5,000, and 11% will give between $5,000 and $20,000. Only 4% say they will contribute $20,000 or more annually.