The Investment Company Institute has found that parents saving for college have a high awareness of education-targeted plans and accounts.
The 529 college savings plan industry has fought the awareness battle since its inception, and the recent data is surely a welcomed breath of fresh air. Nearly two-thirds of respondents said they are aware of college savings programs, such as 529 plans, but do not own any of these kinds of accounts. However, that is about to change, according to the survey. More than one-quarter said they are likely to open up an account within the next year.