"How America Saves for College"
A new national survey finds families are saving less for college than they were two years ago.
According to the survey, half of American families with children younger than 18 reported in 2012 that they were saving for college, compared with 60 percent in 2010. Researchers say the decline is likely a response to a protracted weak economy and other priorities.
While adults recognize the value of college, many report being in denial about college savings and feeling overwhelmed, annoyed, frustrated, and scared, according to the online survey conducted in August. It included 1,600 parents and was sponsored by Sallie Mae, the financial-services company specializing in education, and Ipsos, an independent market-research company.
Vol. 32, Issue 23, Page 5Published in Print: March 6, 2013, as Financing College