NU Online News Service, Sept. 6, 1:55 p.m. – Two-thirds of parents and grandparents are very (29%) or somewhat (37%) concerned that continued market volatility will affect their college savings, a new survey by Harris Interactive for Alliance Fund Distributors, Inc., New York, finds.
Alliance's annual college financial preparedness survey found that while respondents expect to save the same amount ($20,000) as they did in last year's survey, people have begun investing in a child's or grandchild's college education much earlier?when the child is around four years old, a significant change from 11 years old in 2001.
"The survey demonstrates heightened concerns about the ability to adequately save for students' future college expenses, given the ongoing market slump," says Richard Davies, executive vice president, Alliance Fund Distributors.
