Fidelity unveils new indicator of college financial readiness

Fidelity Investments today announced the results of its first annual College Savings Indicator, which calculates how prepared parents are to pay for future college costs.

Based on a nationwide survey, the Indicator found that parents are projected to meet only 24 percent of the total cost of their children's college education, including tuition, fees and room & board. Faring better are those parents utilizing a tax-advantaged 529 college savings plan, who are on track to cover 52 percent of their children's college education expenses.

State-specific results were also prepared for those states with Fidelity-managed 529 plans, including Arizona, California, Delaware, Massachusetts, and New Hampshire.
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