Parents and grandparents who are saving for children's college education are concerned about being able to save enough and plan to start saving earlier to meet their goals, according to a recent study conducted by Alliance Capital.

The study, which surveyed more than 1,000 U.S. residents age 18 and older, found that 66% of the respondents were very worried about the effects of protracted market volatility on their college savings plans. Thirty-seven percent were somewhat concerned.

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