My parents are multi-millionaires. Shouldn't they be expected to help me out?

Question

I'm an undergrad right now and they are paying my full undergrad $60,000 tuition. But I'm going to grad school afterwards and my mom says once I graduate she'll give me $25,000 per year to help me out. I know that's a lot but that's like one year of grad school tuition. Even if I get a full scholarship, we live in NYC and I'm planning on going to grad school here. I've lived on the upper east side my entire life and I don't necessarily have to live on the UES once I move out but Manhattan is all I've ever known and I'd like to stay here but $25,000 a year is not enough for even a dingy studio apartment. I know I sound really ungrateful, but I wouldn't be expecting this if they didn't have the money and they DO. They're multimillionaires. And it's not like I'm sitting around on my *** doing nothing and expecting money. I'm gonna go to grad school. Once I have my own job I won't need anything but they can't support their child through grad school? My mom says once my dad gets his inheritance from his parents they'll give me my share right away but that could be like 10 years from now. If they're really that stingy about it, why don't they just give me the expected amount now while I need it and then once I'm financially independent and have a job I'll just pay it back to them once I get my grandparent's inheritance? We've always had a great relationship. They know I'm responsible and they've always trusted me. I don't know why they're withholding it from me.

Update:

To be clear I'm planning on paying them back once I'm on my feet but I can't while I'm a student, ok? I'm not just expecting them to pay for everything with no pay back but they can give me a loan, alright?

Update 2:

Also I'm pretty sure they're not having financial problems given that my mom's getting a promotion soon and they go on week long vacations in Europe and Asia like 3 times a year

Update 3:

lol I didn't "waste my time" going to college. I'm gonna get a good paying job once I'm done doing something that I love. My parents wanted me to go to college. That's why they promised me I'd have no school debt.

Star_of_Darkness · Answer

Nope

You are an adult and thye owe you nothing what so ever. You made the choice to go to collage when you don't need to and made the choice to waste money. If you wanted a career then you should have gone to a technical school instead of wasting money and time on collage

Even as a child they didn't need to buy you things you dont need like electronics and toys and the like. As an adult they still don't need to give you money for anything.

seedy history · Answer

Most grad students get jobs in their department on campus. Always seemed part of the program to me! And, no, once you graduate from your excellent University your parents are picking up the tab for.. they don't owe you a Masters and Ph.D as well. Not when there are scholarships and internships and jobs available on campus. Your parents owe you nothing from whatever inheritance they MIGHT get from their parents.

Pearl L · Answer

nnaybe they just cant afford it like you think they can

Onlooker · Answer

If you don't learn to struggle a little, you won't be prepared  for the world. If your parent are rich, they won't let you go homeless, and if they have to they will help you out. But, right now, it sounds like they want you to become independent, not be dependent. They're right. You'll thank them some day when you realize all you have had to learn.

Anonymous · Answer

They're giving you a hard time for some reason. Rich people acting pathological every now and then can be expected. 
Believing you have a fair share of an inheritance going to your dad is generous of them.
Is it possible they are having financial problems they don't want you to know about?

? · Answer

The vast majority of people in this country can't afford to send their kids to school at all, but you are whining about rent? They are already paying for plenty and you have already been given incredible advantages in life. If you want to live in a trendy neighborhood, you can figure that out on your own. This is not your parent's problem, and you sound pathetic for whining about it. Just move back in with them if it is that much of a problem, it would be more respectable than crying for them to pay your rent in a trendy neighborhood.

sats · Answer

Not all parents love their children.  My parents were millionaires they threw me out of the house.

Matt · Answer

Go to a less expensive grad school or take on debt to finish it.  One would assume that you are going to inherit lots of money down the road, and that your folks will continue to help out with things like cash after you graduate, so it isn't like you are putting yourself behind the 8 ball by taking on debt, debt you are not accumulating while you are an undergrad.  You folks are gifting you with 1/4 $1,000,000 before you turn 22.  It sounds like they are doing just fine by you.

Gypsyfish · Answer

Once you're 18, they don't owe you anything.  Now, about grad school- there aren't really scholarships, but in many fields, there are assistantships which pay your tuition and a stipend to live on (not on the UES, though). You might teach a couple of undergrad courses, or assist a professor in research. Look into those at the schools you want to attend.
Once you're 24, you're considered emancipated from your parents, and only your income is taken into account if you apply for loans for school.

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My parents are multi-millionaires. Shouldn't they be expected to help me out?

9 Answers