Yahoo! News: Education News

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How Bad Is America at Saving for College? Posted: 27 Jun 2014 05:58 AM PDT Whether your child is seven months old or 17 years old, you're probably thinking about what you need to save for his or her college education. The good news is that while college is expensive, it's still worth saving for, according to a New York Federal Reserve study released Tuesday. In the United States, if you were able to look at every family's college fund, you'd find the average balance is $15,346, according to the "How America Saves for College 2014" report from student lender Sallie Mae. Clearly, many of us are doing better than during the Great Recession years when college savings accounts took a major hit.

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