Professional Documents
Culture Documents
With the cost of college continuing to rise, the earlier families discuss goals, the more time they will have to adjust savings strategies and consider the impact of their choices. Initiating planning conversations that focus on saving for and funding college is a critical step in the process, especially as students approach college-age.
41% of families with older teenagers (age 15+) have not yet had critical discussions about the total cost of college.
69%
Parents who have adjusted their college plans after talking to their older teenagers about how college-related decisions may affect their future nancial outlook
44%
Parents who opted to send child to a less expensive school
29%
Parents who will rely more heavily on nancial aid
22%
Families who start having these conversations early are more likely to have started saving for college.
86%
58%
Source: Fidelity Investments, College Savings Indicator Study, 2013 Fidelitys College Savings Indicator is an annual survey of parents with children aged 18 and younger who are expected to attend college. Parents provided data on their current and projected household asset levels including college savings, use of an investment advisor and general expectations and attitudes toward financing their childrens college education. Using Fidelitys proprietary asset-liability modeling engine, the company calculates future college savings levels per household against anticipated college costs. The results provide insight into the financial challenges parents face in saving for college. Data for the study were collected by Research Data Technology, an independent research firm, through an online survey of more than 2,500 parents nationwide. Fidelity Brokerage Services LLC, Member NYSE, SIPC 900 Salem Street, Smithfield, RI 02917 667875.1.0