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According to Sallie Mae, only four in ten parents have started saving for their children’s higher education. However, nine in 10 parents believe their children will go on to receive higher education.
How much should you save for college? Sallie Mae offers a number of calculators to estimate the costs associated with college. You can also use Fidelity Bank’s savings calculator to give you an idea of how much you need to save each month to meet your goal.
The best tips are to start saving now – the earlier the better – and try to gradually increase your savings each year.