More Families Are Saving for College -- but Many Are Doing It Wrong
There's a reason the average Class of 2016 graduate came away with $37,172 in student debt. Given the exorbitant cost of college these days, many students and their families just can't afford those hefty tuition bills, and so they're forced to take out loans to finance their education.
Avoiding large levels of debt often boils down to having adequate savings -- a responsibility that tends to fall on parents more so than students themselves. And in that regard, Americans seem to be doing a pretty respectable job. As of 2016, in fact, 72% of U.S. families were actively saving for college, which represents a 14% increase from 2007, according to a report by Fidelity.
IMAGE SOURCE: GETTY IMAGES.
Source: Fool.com
