The Northeast – The College Savers; The Midwest – Not so much!
What are your college saving plans for your munchkin(s)? Do you even have one?
In this house we started saving with the 1st monetary gift that she received. I don’t think the money is in the best place for long term educational savings so it is something that we still need to research.
I have found it quite interesting that a recent Sallie Mae Gallup study has found that: Families in the Northeast have saved the most with an average savings of $15,846 closely followed by the West with $15,589. The South has an average savings of $13,722 and the Midwest has the lowest with an average of $9,693.
What does geography have to do with savings? Does the percentage of college grad parents…or maybe…the cost of living impact the percentage of college saving accounts? I’m not sure.