The Woo Group RBC Wealth Management Hong Kong USA

College- or University-Bound? Students and Parents Need to have "The Talk": RBC Poll

Parents know less about their child’s spending during university or college than they may think, according to the latest 2014 RBC Student Finances Poll. While nine out of 10 parents (90 per cent) say they know roughly how much debt their child has, only 78 per cent of students agree. More than half of students (55 per cent) say they’ve sometimes hidden how much they spend from their parents, but only about one-third (33 per cent) of parents believe their child has sometimes hidden how they are spending.