How much do parents save on college?

Other parents don’t save as much and may be forced to borrow more or send their children to less expensive colleges. Most families plan to save about a third of future college costs for each child. On average, however, families save only about 10% of college costs when the child turns 18, falling short of the goal.

How can I save money for college?

If you're looking into ways to save for college, here are some options: Open a 529 plan. Put money into eligible savings bonds. Try a Coverdell Education Savings Account. Start a Roth IRA. Put money into a custodial account. Invest in mutual funds. Take out a permanent life insurance policy. Take out a home equity loan.

Can I save money for my child's college education?

It’s hard to avoid the constant reminders that college in America is outrageously expensive, and that prices have been climbing for years. But don’t lose hope: It is possible to save a meaningful amount for your child’s college education, even if your budget is tight, as long as you make a plan.