Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards

Financial Planning > College Planning > Saving for College

Fidelity: Students Want To Share College Cost Burden

Your article was successfully shared with the contacts you provided.

NU Online News Service, Aug. 18, 2004, 4:22 p.m. EDT

Most college-bound high school students want to help their parents pay for their college education.[@@]

Fidelity Investments, Boston, has published data supporting that conclusion in a report on a recent survey of 477 college-bound high school students between the ages of 14 and 17 and a survey of 376 parents of college-bound high school students with annual household incomes of at least $35,000.

The researchers who conducted the survey found that 95% of the teens surveyed say they feel an obligation to pay for some of their college costs, and only 26% say parents should pay more than half of the bill.

The majority of the high school students say they have started saving for college, and 67% say they are somewhat or very concerned about whether they will have enough money to pay for college.

Fidelity also found that about two-thirds of the parents say they will be contributing less for their children’s college education costs than they would like.

One problem is that only half of the parents started saving for college bills before their children were 6 years old, Fidelity says.

Although 87% of the parents surveyed say they are saving for college costs, only 34% of the parents who are saving for college costs are using 529 plans or other savings vehicles that offer special tax breaks, Fidelity says.


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.