Most parents aren’t saving money for kids’ college education

The New York Post reports:

As college costs climb, parents appear to be having a harder time setting aside money for their children’s educations.

Fewer than half (48 percent) of parents are saving for college, and those who do have a college fund are saving less than they did in past years, according to a survey of nearly 2,000 American parents with at least one child younger than age 18, carried out by market research organization Ipsos for lender Sallie Mae. “This is the first time that’s dipped below half,” says Martha Holler, senior vice president at Sallie Mae. The number was 51 percent in 2014 and 50 percent in 2013 and is down from a high of 62 percent in 2009, according to the study, “How America Saves for College 2015.”

Is the future demand for higher education going to be lower than you think?