Financial issues are common for many older grandparents and great-grandparents who are living on fixed incomes, Social Security or disability payments, who did not plan to raise children late in life, or who are raising children with demanding educational or medical needs. The prevalence of these financial issues has led to a high rate of food insecurity, job loss and home foreclosure in families who support additional children without adequate financial and service assistance. The obstacles can be even greater in "informal" care arrangements, where the relative caregiver lacks a legal relationship (such as legal custody or guardianship) with the child.
Financial hardships faced by older grandparents and great-grandparents who lack sufficient resources to support their extended family, leading to food insecurity, job loss, and home foreclosures, especially when caring for children without adequate financial and service assistance. The challenges are amplified in informal care arrangements where the caregiver lacks legal custody or guardianship of the child.