A recent national telephone poll, sponsored by TIAA-CREF Tuition Financing, Inc., has found that while most parents share a deep concern about college affordability, there is a limited awareness of the savings and investment options that are available to them. It also suggested that parents would like knowledge, advice and a clear-cut plan for saving for college.
Parents are also interested in making systematic contributions for college savings.
In addition to Section 529 savings plans, the survey covered awareness of other college savings vehicles such as education IRAs and Section 529 prepaid tuition plans. Yet only 7 percent knew about Section 529 savings plans. This awareness level is markedly lower than that of other parent polls. Even with little information on Section 529 plans, the vast majority of parents polled were interested in investing in one. Parents showed intense interest after learning more about the investment options and tax benefits of Section 529 programs.