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"  Around 20,000 young people will be heading off to travel this year And who&amp;#039;s picking up the bill? Parents, obvs. Research from prepaid currency card provider Caxton FX has revealed that British parents spend as much as \u00A3995 million each year to help their children pay for gap years. GOING AWAY WITHOUT YOUR BOYFRIEND? KEEP THE LUST ALIVE WITH OUR TOP TIPS According to the study by the foreign currency experts, a fifth of gap years are funded, either fully or in part, by parents. While the average contribution is \u00A3763, 1 in 10 parents give up to \u00A35,000 to help fund their child&amp;#039;s gap year. Wow, where are these generous peeps hiding? Do parents want all this money back? Only a tiny 3% expect the cash to be paidback eventually. Whereas, a third see the donation as a gift or treat. N&amp;#039;aww, thanks mum and dad.  NEED TO FUND YOUR GAP YEAR? CLICK HERE TO FIND OUT HOW Where&amp;#039;s the money being spent? The priciest part of the trip is accommodation, closely followed by round the world flights. Of course there&amp;#039;s the practical stuff to deal with too. Travel insurance and visas aren&amp;#039;t free you know. Are we a bit too spoilt? James Hickman, Managing Director of Caxton FX said: &amp;quot;The &amp;#039;Bank of Mum and Dad&amp;#039; is there to help, but it is important that young people take responsibility for their financial decisions.&amp;quot; We agree, but let&amp;#039;s enjoy our hols first. SHOULD PARENTS BAIL YOU OUT OF DEBT? JOIN THE DEBATE HERE Did your parents fund your gap year? Let us know on Twitter @CosmoOnCampus  To see what Caxton FX can offer travellers, visit their website caxtonfx.com "^^<http://www.w3.org/2001/XMLSchema#string>
<http://www.cosmopolitan.co.uk/more/a17454/parents-spend-millions-funding-gap-years-taken-by-children-according-to-caxtonfx/>