529 News

New college-savings survey finds low level of savings

(February 22, 2008) - The first annual OFI Private Investments College Savings Confidence Index® reveals that less than one-third (32 percent) of American families who are currently saving for their child’s college education have confidence in achieving their college savings goals. OFI Private Investments is a subsidiary of Oppenheimer Funds that manages section 529 tuition-savings programs in four states.

In the benchmark first year of this Index, Savers received a grade of “D”, while Future Savers received an “F.” The Index also reveals that only three percent of U.S. households currently have enough saved to pay for college.

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