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Fidelity survey shows attitudes toward college savings

(August 19, 2004) - A national survey released by Fidelity Investments demonstrates that both parents and children have intentions of preparing financially for college costs, but the reality is that most families don't reach their savings goals. Among the findings:

-- 95% of teenagers feel an obligation to shoulder some of the financial burden of their college education.

-- Under ideal circumstances, 93 percent of parents would help pay for their teenager's college education, but two-thirds are not doing as much as they would like.

-- 79% of parents expect to rely on scholarships when paying for college, while 62 percent of teenagers do.

-- 87% of parents are saving for college but only 34% are utilizing a tax-advantaged investment such as a 529 plan.

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