Vanguard/Upromise study college savings habits
Other key findings included the following:
-- Those with older children showed slightly more concern about paying for college than those with younger children.
-- 96% of parents expected their children to pursue some form of higher education. About one-third of parents expected to pay for all or most of their children's education, and respondents had saved approximately $4,700 per child on average.
-- Nearly four of ten parents who expected their children to attend college had at least some familiarity with 529 plans. Parents were the primary contrbutors, with about one-quarter of grandparents also contributing.
-- 87% of 529 investors cited tax-free withdrawals as the primary benefit of 529 plans, and most felt this tax advantage, scheduled to expire at the end of 2010, should be made permanent.