How Parents Save For Their Kids College Education [CHART]

Charts: Accounts Used by College Saving Parents

Some 55% of parents with children under the age of 18 feel confident that they’re ready to meet the future cost of college, according to a report from Sallie Mae and Ipsos [PDF]. Confidence tends to be higher among younger parents, who have different attitudes to their older counterparts about saving for college.

Indeed, Millennials parents (aged under 35) are the most willing to ask people outside of their family to help pay for college (64%), and they’re also the most likely to have started saving early (56% started when their child was 0-5 years old).

Perhaps as a result, 65% of Millennial parents feel confident in their ability to meet the future cost of college. Baby Boomer parents (48%) and those with children near college age show lower levels of confidence. Read the rest at