Upromise survey finds families have less money to put towards college
As prices of gas and groceries increase alongside tuition bills, American parents are focusing their efforts on paying for everyday expenses rather than saving for future costs, such as their children’s college education. Of 1,000 parents who participated in a Upromise survey conducted by e-Rewards, nearly 80 percent said they didn’t think they were saving enough for college and 58 percent credited this to the rising prices of gas, groceries and utilities.
Fourteen percent of survey respondents indicated they would target college savings if they received an extra $10,000, down from 41% in a similar survey a year earlier. Instead, 44% would now use it to pay down daily expenses and reduce debt.
For more information, click hereReturn to 529 News centerFourteen percent of survey respondents indicated they would target college savings if they received an extra $10,000, down from 41% in a similar survey a year earlier. Instead, 44% would now use it to pay down daily expenses and reduce debt.