Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Graduation cap on money Millennials are 45 percent more likely than boomers to characterize their college debt burden as “very” or “extremely” challenging. (Photo: iStock)

The higher their own debt, the more likely they are to start saving early for their children’s college educations.

That’s according to data from social investing platform Collegebacker.com, which helps parents set up 529 plans for their kids and recruit friends and family for contributions. In the survey of parents, millennials were 43 percent more likely than boomers to start saving before their kids hit 5, and 24 percent more likely than Gen Xers.

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

Already have an account?

Marlene Satter

Marlene Y. Satter has worked in and written about the financial industry for decades.

More from this author


Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.