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ERIC Number: ED540402
Record Type: Non-Journal
Publication Date: 2013
Pages: 43
Abstractor: ERIC
Reference Count: 0
How America Saves for College, 2013. Sallie Mae's National Study of Parents with Children under Age 18
Sallie Mae, Inc.
Sallie Mae has conducted an ongoing study, "How America Pays for College," annually since 2008. Through that study, the researchers are able to provide a clearer picture of how the typical American undergraduate is paying for college today. This report is the third in the "How America Saves for College" series conducted since 2009. Interviews took place in August 2012 with a nationally representative sample of more than 1,600 parents. Sallie Mae's "How America Saves for College 2013" shows American families overwhelmingly expect their children to attend college and that most parents are optimistic about their ability to save for it. It also shows that anticipated savings often don't tie to the amount that families are currently saving, nor meet with the reality of the cost of college. Families who have set a savings goal for themselves plan to save close to $39,000 for each child's college education costs. When asked another way, parents who are saving plan to save about 32 percent of the future cost of college. Based on families' current savings behaviors, actual savings will amount to about half their goal amount. (Contains 10 figures, 54 tables, and 10 footnotes.) [For 2010 report, see ED540411.]
Sallie Mae, Inc. 300 Continental Drive, Newark, DE 19713. Tel: 302-283-5000; Fax: 877-525-7347; Web site:
Publication Type: Numerical/Quantitative Data; Reports - Research
Education Level: Higher Education
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: Sallie Mae, Inc.; Ipsos Public Affairs