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Story
November 6, 1960
Atlanta Daily World
Atlanta, Fulton County, Georgia
What is this article about?
University of Michigan survey finds American parents more realistically planning finances for children's college, with rising use of savings and endowment policies compared to recent years.
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Parents Becoming More Realistic In Schooling Plans
By LOUIS CASSIDY (United Press International)
American parents are getting to be a little more realistic about the financial planning that is necessary to put their children through college.
That is the hopeful finding of a University of Michigan research team which conducted a nation-wide survey for the U. S. Office of Education.
Interviewing parents who have sent children to college during the past five years, these researchers learned that only 12 per cent had endowment policies which helped them absorb the financial burden.
But endowment policies have been taken out by 32 per cent of the parents who are looking forward to sending a child to college, within the next 6 to 11 years.
When bank accounts, stock purchase programs and other forms of savings are taken into consideration approximately half of the parents with children under 10 who expect their children to attend college, have already set aside money for the purpose.
MAKING MORE PROVISIONS
There seems little question," the researchers concluded, "that parents are now making more adequate provision for the future than did parents of children who have recently been in college."
The University of Michigan study underscores the importance of long-range advance planning by every family which hopes to put one or more children through college.
By LOUIS CASSIDY (United Press International)
American parents are getting to be a little more realistic about the financial planning that is necessary to put their children through college.
That is the hopeful finding of a University of Michigan research team which conducted a nation-wide survey for the U. S. Office of Education.
Interviewing parents who have sent children to college during the past five years, these researchers learned that only 12 per cent had endowment policies which helped them absorb the financial burden.
But endowment policies have been taken out by 32 per cent of the parents who are looking forward to sending a child to college, within the next 6 to 11 years.
When bank accounts, stock purchase programs and other forms of savings are taken into consideration approximately half of the parents with children under 10 who expect their children to attend college, have already set aside money for the purpose.
MAKING MORE PROVISIONS
There seems little question," the researchers concluded, "that parents are now making more adequate provision for the future than did parents of children who have recently been in college."
The University of Michigan study underscores the importance of long-range advance planning by every family which hopes to put one or more children through college.
What sub-type of article is it?
News Report
Survey Finding
What themes does it cover?
Family
Financial Planning
Education
What keywords are associated?
College Financial Planning
Parent Savings
Endowment Policies
University Survey
What entities or persons were involved?
Louis Cassidy
University Of Michigan Research Team
U. S. Office Of Education
Where did it happen?
United States
Story Details
Key Persons
Louis Cassidy
University Of Michigan Research Team
U. S. Office Of Education
Location
United States
Story Details
A University of Michigan survey for the U.S. Office of Education reveals that American parents are increasingly realistic about financial planning for college, with only 12% of recent parents using endowment policies but 32% of future parents planning to, and about half of parents with children under 10 already saving.