More Families Cannot Save To Pay For College

American families are scaling back plans to pay for their children’s college education as the stunted economic recovery continues to weigh on household budgets, according to a survey by Sallie Mae. The study found that the percentage of families who planned to make little or no contribution to tuition increased, while the percentage who expected to cover more than half of expenses decreased. In addition, the percentage of families who said the reason they are not socking away money for college is that they cannot afford it rose from 62% last year to 68% this year. Source:ECS