More parents are saving for college—and they’re saving more money
More families are saving for college in 2016 than in the prior three years of How America Saves for College. Fifty-seven percent of parents reported saving—up 9 percentage points from 2015. The average amount parents have saved for college is also up, at $16,380.
Millennial and Baby Boomer parents report saving for college at a higher rate than Gen X parents—and they save more than Gen X parents.