Survey Shows Parents Put Less Money into College Savings than Other Expenses

According to a November 28, 2006 article from the Daily News (New York), a recent study from AllianceBernstein Investments shows that, during the past year, over 50% of parents spent more money on vacations and/or dining out than they put into saving toward their child's college education. The survey also included financial aid professionals, who indicated that many parents have unrealistic expectations regarding the level of financial assistance that their student will receive. The article reminds parents that financial aid is not intended to replace family college savings plans.

The article is available at the Daily News Web site.