Black, Latino youth less likely to get financial help from folks

FILE - In this Saturday, May 31, 2014, file photo, members of the graduating class and faculty attend the Savannah College of Art and Design commencement in Atlanta. For the first time on record, living with parents is now the most common arrangement for Americans ages 18 to 34, an analysis of Census data by the Pew Research Center has found. The sharp shift reflects a long-running decline in marriage age, amplified by the economic upheavals of the Great Recession. The trend has been particularly evident among Americans who lack a college degree. (AP Photo/John Amis, File)

WASHINGTON (AP) – A new GenForward survey finds more young blacks and Latinos feel that they can’t depend on family to help financially than do whites or Asians. That includes big-ticket items like college tuition as well as smaller expenses.

More than half of millennials of all races and ethnicities think an unexpected bill of $1000 would cause them financial difficulty. Nearly two-thirds of whites and Asian-Americans say their families could help them cover that expense, compared to 46 percent of Hispanics and 42 percent of African-Americans.

An assist from parents or family gives some young Americans financial security, allowing them to attend college or purchase a home.

The Black Youth Project at the University of Chicago with The Associated Press-NORC Center for Public Affairs Research conducted the survey of young adults.

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