More Parents Expect Their Kids to Chip in For College Costs, But Aren't Telling Them
More parents are starting to save money for their child’s college costs even before they turn two, 37 percent, up from 21 percent in 2016, finds a new report. Fidelity Investments says part of the reason for the increase, is parents expect their children to take on a greater share of college costs. Parents want their children to set aside nearly 15 thousand four hundred dollars by high school graduation, about three thousand more than in 2016. But, parents aren’t having conversations with their children about saving for college - 40 percent of parents with sophomores or older haven’t talked to their kids about chipping in for college. Fidelity leaders say their study is a wake-up call for parents to communicate with their kids about saving for college.