Parents are on track to cover only 16% of their children’s college education, Fidelity Investments’ 5th Annual College Savings Indicator study shows. In the study’s five-year history, this is the first year that the indicator’s steady decline has come to a halt, at 16%.

In 2007, when Fidelity first launched the study, parents were on track to cover 24% of the cost of their children’s higher education. Fidelity attributed part of the reason for the decline to tuition costs, which have risen 26% in the past five years.

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