• April 16, 2014

Are You Saving Enough for Your Child’s College Education?

Font Size:
Default font size
Larger font size

Posted: Thursday, May 30, 2013 12:00 am | Updated: 2:32 am, Fri May 31, 2013.

(StatePoint)  Despite rising college costs, fewer American families with children under age 18 are saving for college. Only 50 percent are doing so today, compared to 60 percent just two years ago, according to "How America Saves for College 2013" a national study from Sallie Mae, the country’s largest financial services company specializing in education.

Click Here to Enlarge Image

While nearly all parents believe college is an investment in their children’s future, only one-third have plans to pay for college.  And when asked to describe their feelings about saving for college, parents’ top answers were overwhelmed, annoyed, frustrated, scared, or that they don’t like thinking about it at all.

Among those not saving, 47 percent cite barriers other than money. Top reasons included thinking children would be awarded enough financial aid to cover college costs, uncertainty about which savings option to use, and other concerns.

Slightly more than one quarter of parents who are saving for college use a 529 college savings plan, a tax-advantaged program created to help families save for education expenses. However, more parents save for college using general funds or CDs, and therefore may miss out on tax incentives offered by 529 accounts.

More information about saving for college is available online at www.salliemae.com/howamericasaves.


Rules of Conduct

  • 1 Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
  • 2 Don't Threaten or Abuse. Threats of harming another person will not be tolerated. AND PLEASE TURN OFF CAPS LOCK.
  • 3 Be Truthful. Don't knowingly lie about anyone or anything.
  • 4 Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
  • 5 Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
  • 6 Share with Us. We'd love to hear eyewitness accounts, the history behind an article.

Welcome to the discussion.

Belton library will offer e-books
Posted: April 15, 2014

BELTON — Belton’s Lena Armstrong Public Library will soon offer virtual books. The library received a $5,000 J. Frank Dobie Library Trust Award, which is given each spring to chosen applicants. Kim Kroll, the library’s director, said all the money will be spent only on e-books.

more »
Pentagon releases estimated impact of sequestration-level funding
Posted: April 15, 2014

The Defense Department on Tuesday released a report documenting the damaging cuts to military forces, modernization and readiness that will be required if defense budgets are held at sequester-levels in the years beyond fiscal 2015.

more »

Featured Events