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August 26, 2005 at 08:00 PM
A new survey finds many GenXers are beginning to despair that they can afford to send their kids to college.[@@]
Among members of Generation X (aged 26 to 40), 38% now believe that educational costs will be out of their reach by the time their children are ready to go to college, up from 29% in 2004.
“With the average cost of attending a four-year private institution rising to nearly $120,000, with no signs of abating, GenXers are taking a serious look at the financial burden this will create for them and their families,” says Beverly Moore, managing director of wealth management at MainStay Investments Inc., Parsippany, N.J., which sponsored the survey.
