Half of parents say they have no idea how they'll afford their kids' college education, survey finds

June 28, 2026 - 19:32

A new survey reveals a stark reality for American families: half of parents say they have no clue how they will cover the cost of their children's college education. The findings, released this week, paint a picture of financial anxiety and uncertainty that cuts across income levels.

The survey, which polled more than 1,000 parents of children under 18, found that 50% responded with "no idea" when asked how they planned to fund higher education. Among those who did have a plan, the most common strategies included relying on student loans, cutting back on household spending, and hoping for scholarships or grants. Only about one in five parents said they had saved anything specifically for college.

The numbers are not surprising given the rising cost of tuition. Over the past two decades, the average price of a four-year degree has more than doubled, far outpacing wage growth. Many parents feel caught between wanting to support their children's dreams and the reality of their own budgets. Some said they expect their kids to take on significant debt, while others admitted they have simply stopped thinking about it.

Financial experts suggest that even small, regular contributions to a 529 plan or a high-yield savings account can make a difference over time. But for many families, the gap between what they can afford and what college costs feels impossible to close. The survey underscores a growing sense of resignation among parents, who are left hoping that something will change before their children reach graduation day.