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ICI survey sees college savings on the rise

(October 7, 2003) - The Investment Company Institute has released a survey of parents with children age 18 or younger that indicates the desire and effort of many families to save for future college expenses. Two-thirds of respondents are currently saving for college. Of these, more than 90 percent use taxable investments to help achieve their college savings goals. But that may be changing; more than one-quarter of savers indicated their intention to open a 529 account or Coverdell ESA within the next 12 months.

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