Survey says College is Low on long-term savings Totem Pole: Most parents and grandparents aren’t saving enough for their children’s and grandchildren’s college education, and they aren’t willing to put off retirement to pay for it, according to a survey by OppenheimerFunds Inc.
Among 1,000 people surveyed who have children or grandchildren age 18 or under, 58 percent aren’t saving for future college education expenses, and 68 percent haven’t tried to figure out how much they’ll need to save. And those who did calculate it were way off - 56 percent estimated that they would need to save less than $75,000, when the cost is much greater, Oppenheimer said.
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