Parents Aren’t the Only Ones Paying for Student College Tuition

8/1/2013

One in three U.S. adults (33%) are currently paying or planning to help pay for a child’s higher education, according to TheStreet.com. And 71% of these adults are worried about where they will get this money.

Among those saving for a child’s college education:

  • They are saving an average of $6,850.
  • 53% are using a savings account; 31% are using some type of investments; 24% are using a 529 saving plan or prepaid tuition plan; 14% are using life insurance; and 11% are using a Roth IRA.
  • 79% are parents; 10% grandparents; 4% aunts/uncles.

SOURCE: TheStreet.com, Emily Schneider, 14 Wall St., New York, NY 10005; 212-321-5521; emily.schneider@thestreet.com; www.thestreet.com.

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