Report: Parents save for kids college, but it's not enough
Parents are saving their pennies for their kids’ college education. Unfortunately, they need dollars. Thousands of them.
Fidelity Investments conducted a study this year and found that 69 percent of Massachusetts parents have begun saving for future college costs. That’s up from 59 percent two years ago.
But the money saved will only meet about 18 percent of the costs.. down from 22 percent last year and 29 percent in 2007.
WBZ’s Carl Stevens talks with the executive director of MEFA, Thomas Graf, about student loans.