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Hartford survey suggests grandparents as college funding source

(November 12, 2008) - According to a summer 2008 survey of grandparents, The Hartford found that 65 percent of grandparents plan to contribute financially to their grandchildren's college education, but less than one third of all survey participants have coordinated college savings for their grandchildren with their adult children.

The survey also found that over 40 percent of grandparents already spend more than $2,000 annually on their grandchildren and that more than half of grandparents with intentions to contribute money towards college are planning to contribute more than $10,000.

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