5 Hard Truths About Saving for College and the Cost of Education

5) Many families are not saving at all

Financial restraints and competing savings priorities have made it difficult — or impossible — for some parents to save for their child’s college education. Seventy-two percent of families report not having enough income to save for college, while others are focusing on saving for retirement, paying off health care bills, or even paying off their own student loans.

College Save

Source: Sallie Mae How America Saves for College 2013

Here’s how the main U.S. indexes traded on Friday:

Screen Shot 2013-08-02 at 5.31.00 PM

Don’t Miss: How Good Is Ben Bernanke at Forecasting Economic Conditions?