Loftis: More parents are saving but fewer on track to reach savings goals
Sunday, October 2, 2016
South Carolina Treasurer Curtis Loftis was encouraged to read that a record number of parents are saving for college, according to a new report from Fidelity.
However, the same report found that just 29% of parents had reached their goals by the time their children were ready for college, Loftis pointed out.
“That’s why it’s so important to start saving as early as you can,” he said. “Saving for your child’s education may seem like an insurmountable task, but really, all it takes to get started is a few dollars a week.”
Like other savings goals such as saving for retirement or paying off a mortgage, there’s a shorter window of time when it comes to saving for higher education, Loftis added. “But with a Future Scholar college savings plan, it’s easy to get a jump on saving. And you can start today.”
To read the report included in “5 easy steps every parent should take if they want to be able to pay for their kid to go to college” read on: