Advanced Personal Finance

Last week, I asked you guys about saving for your kids’ college tuition. I wanted to publish the results of the poll, so here they are.

The question was “Do you intend to help your kids pay for college?”

Yes, we’ve started a college fund: 31% of respondents
Yes, but we haven’t started saving yet: 10%
I don’t have kids, but I intend to help them: 41%
No, we have the means but prefer not to: 10%
No, we’d like to but it’s just not going to happen: 8%

Just a couple of comments about the results. Obviously this isn’t anywhere close to scientific since respondents were self-selected. I thought two of the numbers were particularly interesting, though. First, 10% of those responding could save for college, but are choosing not to. I have considered whether paying for college is a good thing all things considered. I can see it both ways (we do save for college, by the way). Second, 31% have started a college fund for their kids. That’s a pretty significant fraction.

Thanks to all who participated in the poll.

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