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56% of Americans would willing go into debt
to fund their child’s college education, with…
the average parent willing to go $31,000 in debt.
Of note: men, on average are willing to $35,000 into debt
for their kids to receive higher education,
while women, on average, are only willing to go $27,000 in debt.
Also, 33% of those who took out student loans for themselves
would not take on any debt for their kid’s college.
75% feel that a college degree is important when searching for a job.
65% think that college is a good investment.
And while
36% of parents have been putting away money for college
since their kid was five or under…
30% have been unable to save anything, and…
even of those who have saved, only…
60% feel it will cover less than 60% of college expenses.
Source: Study performed for Country Financial
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