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Saving for College Is a Priority for Parents--and They're Saving More for It
Sallie Mae ConsumerFeature
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SAVING FOR COLLEGE IS A PRIORITY FOR PARENTS--AND THEY'RE SAVING MORE FOR IT. THAT'S ACCORDING TO THE LATEST "HOW AMERICA SAVES FOR COLLEGE"-REPORT--FROM "SALLIE MAE" AND "IPSOS". IT FINDS THAT NEARLY SIX-IN-10 PARENTS ARE SAVING FOR COLLEGE, THAT ONE-THIRD SAVED MORE THIS YEAR THAN LAST, AND THAT THE AVERAGE AMOUNT SAVED--OVER 18-THOUSAND DOLLARS--IS THE HIGHEST AMOUNT THAT'S BEEN REPORTED IN THE LAST FIVE YEARS OF THIS NATIONAL STUDY. IT ALSO FINDS THAT--AFTER SAVING FOR GENERAL NEEDS AND EMERGENCIES--PARENTS EARMARK FUNDS FOR COLLEGE MORE THAN FOR ANY OTHER SPECIFIC PURPOSE--ALONGSIDE RETIREMENT. WHAT'S MORE, ONLY 10-PERCENT OF PARENTS PLAN TO TAP THEIR RETIREMENT-FUNDS FOR COLLEGE--WHICH IS DOWN FROM 20-PERCENT, IN 2016. AND, TO KEEP THEIR COLLEGE-SAVINGS ON TRACK, SIX-IN-10 PARENTS CONTRIBUTE A SET-AMOUNT TO THEIR COLLEGE-FUND--ON A REGULAR BASIS. TO LEARN MORE, VISIT "SALLIE-MAE"-DOT-COM.
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