Why plan for college:

  • Almost 45 million American adults owe $1.7 trillion in student loan payments ₁

  • 63% of parents say they are still worried about having enough money to help pay for their child’s education. ₂

  • 38% of parents say paying for college is the child’s top anxiety about attending college, followed by applying for scholarships and aid (30%).₂

  • While 41% of parents don’t feel like they started saving early enough, up from 37% in 2019, most are planning to leverage a mix of resources to finance college₂

Sources

  1. Education Data Initiative

  2. Discover Loans Parent Survey 2021