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Financial Planning / Paying For College


Subject:  Re: Parent vs Child Assets Date:  7/30/2001  3:00 PM
Author:  2gifts Number:  4106 of 8558

A few years ago I was involved with a survey of parents of college students and one of the questions asked was whether they saved in their child's name, and if so, did they regret. 7% of the respondents had regrets--so for those bound for college, it appears to be a minor, if occasionally real, problem.

Yes, but I would expect parents of college students to say this. It's the parents who had saved in their children's names and the kids DIDN'T go to college I would be interested in asking. In my mind, that would be the group most likely to have the regrets since you can make a reasonable argument that if the child didn't go to college, then they used the money saved in their name for that purpose for something else. Now, it could be they chose to start a business, but it could also be the kid chose to go out and buy a sportscar, so it's this group whose opinion I'd be interested in. And I'd want to know what percentage that is relative to how many went to college so you'd have some idea of what percentage of the college-age kids were affected.

As with most surveys, it's always interesting to find out exactly what question was asked to understand if it was the right question, and what underlying assumptions the question makes.
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