Tag: college savings

Parents, particularly those under 35, are increasingly confident they can afford college for their children, but underlying that optimism is a hint of caution. A new survey from student loan lender Sallie Mae warns that if economic growth does not keep up with inflation, then they may not have enough despite their best intentions.

The latest “How America Saves for College” report, released by Sallie Mae on Thursday, finds that the number of parents saving for college jumped to 57 percent, from 48 percent last year. The average amount saved is now $16,380, up from $10,040 in 2015 and $15,346 in 2014.

If your kids' college savings are not walled off in some kind of separate account, how do you keep yourself from raiding the kitty?

Stephanie Sadural Heincker is one mom who does not trust herself: she has an automatic deduction from each paycheck go into 529 college savings plans for her two- and four-year-old.

Heincker's own parents dipped into the money they had set aside in a savings account for her, so she ended up saddled with a lot of student debt.