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T. Rowe Price Parents, Kids & Money Survey- College Related Findings

T. Rowe Price’s 2017 Parents, Kids & Money Survey revealed some significant differences in parents’ inclination to save and pay for college based on the gender of their child. We found that parents who have all boys are going to greater lengths to support their kids’ college education than parents of all girls. Learn more in this deck.

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T. Rowe Price Parents, Kids & Money Survey- College Related Findings

  1. 1. 9TH ANNUAL PARENTS, KIDS & MONEY SURVEY—COLLEGE RELATED FINDINGS Detailed Results
  2. 2. 2 Contents Saving for kids’ education Findings by Gender of Kids in Household……………………………………….…3 College Related Questions: Full Sample of Respondents………………………13 Kids’ Responses……………………………..………………………………………33 Respondent Profile…………………………………………………….…………….38 Objective and Methodology……………………………………………….………..42
  3. 3. FINDINGS BY GENDER OF KIDS IN HOUSEHOLD
  4. 4. 4 39% 50% 0% 10% 20% 30% 40% 50% 60% Money saved for kids’ college education Boys Only Households Girls Only Households College Savings by Gender of Kids in the Household Q26. WHICH OF FOLLOWING DO YOU HAVE? (CHECK ALL THAT APPLY) T. Rowe Price 2017 Parents, Kids & Money Survey N=393 (girls or boys only households)  Households with only boys (N=238) are more likely than households with only girls (N=155) to have money saved for college (50% vs. 39%)* *Significant at alpha=.10
  5. 5. 5 50% 50% 32% 68% 0% 10% 20% 30% 40% 50% 60% 70% 80% Saving for retirement Saving for kids' college education Boys Only Households Girls Only Households Family Saving Priority by Gender of Kids in the Household Q28. WHICH OF THE FOLLOWING IS THE HIGHER PRIORITY FOR YOU AND YOUR FAMILY? T. Rowe Price 2017 Parents, Kids & Money Survey N=393 (girls or boys only households)  Households with only boys (N=238) are more likely than households with only girls (N=155) to say saving for college is a higher priority (68% vs. 50%)* *Significant at alpha=.05
  6. 6. 6 30% 70% 17% 83% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% Less frequently than monthly Monthly or more frequently Boys Only Households Girls Only Households Frequency of Contributions—College T. Rowe Price 2017 Parents, Kids & Money Survey N=181 (girls or Boys only and have college savings)  Households with only boys (N=120) are more likely than households with only girls (N=61) to contribute to college savings monthly or more frequently (83% vs. 70%)* *Significant at alpha=.10 Q27. APPROXIMATELY HOW OFTEN DO YOU CONTRIBUTE TO YOUR KIDS’ COLLEGE EDUCATION SAVINGS?
  7. 7. 7 Expectations About Paying for College 8% 23% 69% 17% 27% 57% 0% 10% 20% 30% 40% 50% 60% 70% 80% I will be able to pay the entire cost of college I will be able to pay most of the cost of college I will be able to pay some of the cost of college Boys Only Households Girls Only Households T. Rowe Price 2017 Parents, Kids & Money Survey N=379 (girls or boys only and expect kids to go to college)  Households with only boys (N=228) are more likely than households with only girls (N=151) to say they will be able to pay the entire cost of college (17% vs. 8%)* *Significant at alpha=.05 Q39. WHICH OF THE FOLLOWING BEST DESCRIBES HOW YOU FEEL ABOUT SAVING FOR YOUR KIDS’ COLLEGE EDUCATION?
  8. 8. 8 Paying for College—Parent Debt Threshold 12% 88% 23% 77% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% $75,000 or more Less than $75,000 Boys Only Households Girls Only Households T. Rowe Price 2017 Parents, Kids & Money Survey N=379 (girls or boys only and expect kids to go to college)  Households with only boys (N=228) are more likely than households with only girls (N=151) to say they are willing to take on $75,000 of debt or more (23% vs. 12%)* *Significant at alpha=.05 Q43. HOW MUCH DEBT ARE YOU WILLING TO TAKE ON PERSONALLY TO PROVIDE YOUR KIDS WITH A COLLEGE EDUCATION?
  9. 9. 9 Paying for College—Kid Debt Threshold 17% 83% 29% 71% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% $50,000 or more Less than $50,000 Boys Only Households Girls Only Households T. Rowe Price 2017 Parents, Kids & Money Survey N=379 (girls or boys only and expect kids to go to college)  Households with only boys (N=228) are more likely than households with only girls (N=151) to say they are willing to let their kids take on $50,000 of debt or more (29% vs. 17%)* *Significant at alpha=.05 Q44. HOW MUCH DEBT ARE YOU WILLING TO LET YOUR KIDS TAKE ON TO GET A COLLEGE EDUCATION?
  10. 10. 10 Attitudes About College 72% 60% 50% 55% 60% 65% 70% 75% I would consider sending my kids to a less expensive college to avoid taking on student loans Boys Only Households Girls Only Households T. Rowe Price 2017 Parents, Kids & Money Survey N=379 (girls or boys only and expect kids to go to college) * Significant at alpha=.10  Households with only boys (N=228) are less likely than households with only girls (N=151) to say they would consider sending their kids to a less expensive college to avoid taking on student loans (60% vs. 72%)* Q45. HOW MUCH DO YOU AGREE OR DISAGREE WITH THE FOLLOWING STATEMENTS? (DISPLAYING PERCENT THAT AGREE)
  11. 11. 11 36% 11% 53% 25% 10% 65% 0% 10% 20% 30% 40% 50% 60% 70% I don't know No Yes Boys Only Households Girls Only Households Knowledge of Parental College Savings T. Rowe Price 2017 Parents, Kids & Money Survey N=393 (girls or boys only households) Q97. DO YOUR PARENTS SAVE MONEY SO YOU CAN GO TO COLLEGE?  Households with only boys (N=238) are more likely than households with only girls (N=155) to have kids that say their parents are saving for their college education (65% vs. 53%)* *Significant at alpha=.05
  12. 12. 12 44% 29% 27% 33% 22% 45% 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% Not sure Their retirement My college Boys Only Households Girls Only Households Perceived Savings Priorities T. Rowe Price 2017 Parents, Kids & Money Survey N=393 (girls or boys only households)  Households with only boys (N=238) are more likely than households with only girls (N=155) to have kids that say saving for their college education is the priority (45% vs. 27%)* *Significant at alpha=.05 Q100. DO YOU THINK IT’S MORE IMPORTANT FOR YOUR PARENTS TO SAVE FOR THEIR RETIREMENT OR YOUR COLLEGE?
  13. 13. COLLEGE RELATED QUESTIONS: FULL SAMPLE OF RESPONDENTS
  14. 14. 14 14% 4% 11% 12% 12% 19% 23% 39% 41% 53% 0% 10% 20% 30% 40% 50% 60% I don't have any debt Other Student loan (from kid's education) Payday loan Friend/relative debt Medical debt Student loan (from parent's education) Car loan Mortgage Credit card debt Types of Debt Q14. WHICH OF THE FOLLOWING TYPES OF DEBT DO YOU HAVE? (CHECK ALL THAT APPLY) T. Rowe Price 2017 Parents, Kids & Money Survey N=1,014 (total respondents)  61% of parents have more than one type of debt, with a mean number of debt types at 2.14  4% of parents have student loan debt for both parents’ and kids’ education
  15. 15. 15 27% 8% 20% 22% 12% 10% 0% 5% 10% 15% 20% 25% 30% 35% 40% $40,000 or more $30,000 to $39,999 $20,000 to $29,999 $10,000 to $19,999 $5,000 to $9,999 Less than $5,000 Amount of Debt—Students Loans (Parents) T. Rowe Price 2017 Parents, Kids & Money Survey N=233 (have student loans for parents’ education) Q17. WHAT IS THE APPROXIMATE BALANCE (I.E., THE AMOUNT YOU STILL OWE) FOR YOUR STUDENT LOANS (FOR YOUR OR YOUR SPOUSE’S EDUCATION)?
  16. 16. 16 Amount of Student Debt by Education 6% 38% 56% 22% 42% 37% 37% 40% 23% 37% 47% 16% 47% 39% 14% 0% 10% 20% 30% 40% 50% 60% $30,000 or more $10,000 to $29,999 Less than $10,000 Grad. Deg. Bach. Deg. Assoc. Deg. Some College HS Grad T. Rowe Price 2017 Parents, Kids & Money Survey N=233 (have student loans for parents’ education) Q17. WHAT IS THE APPROXIMATE BALANCE (I.E., THE AMOUNT YOU STILL OWE) FOR YOUR STUDENT LOANS (FOR YOUR OR YOUR SPOUSE’S EDUCATION)?  Those with a graduate degree are more likely than high school graduates to have $30,000 or more in student loan debt  Those with a bachelor’s or graduate degree are less likely than high school graduates to have less than $10,000 in student loan debt
  17. 17. 17 19% 13% 24% 19% 16% 8% 0% 5% 10% 15% 20% 25% 30% 35% 40% $20,000 or more $15,000 to $19,999 $10,000 to $14,999 $5,000 to $9,999 $1,000 to $4,999 Less than $1,000 Amount of Debt—Students Loans (Kids) T. Rowe Price 2017 Parents, Kids & Money Survey N=110 (have student loans for kids’ education) Q18. WHAT IS THE APPROXIMATE BALANCE (I.E., THE AMOUNT YOU STILL OWE) FOR YOUR STUDENT LOANS (FOR YOUR KIDS’ EDUCATION)?
  18. 18. 18 13% 49% 49% 52% 53% 0% 10% 20% 30% 40% 50% 60% None of the above Money saved for other goals Money saved for retirement An emergency fund to cover unexpected expenses Money saved for kids’ college education Savings Accounts Q26. WHICH OF THE FOLLOWING DO YOU HAVE? (CHECK ALL THAT APPLY) Total Types of Savings None: 13% One: 26% Two: 22% Three: 23% Four: 16% T. Rowe Price 2017 Parents, Kids & Money Survey N=1,014 (total respondents)
  19. 19. 19 39% 37% 41% 57% 60% 62% 0% 10% 20% 30% 40% 50% 60% 70% Money saved for other goals Money saved for retirement An emergency fund to cover unexpected expenses Have College Savings Don't Have College Savings Savings Accounts Among Parents with College Savings Q26. WHICH OF THE FOLLOWING DO YOU HAVE? (CHECK ALL THAT APPLY) T. Rowe Price 2017 Parents, Kids & Money Survey N=1,014 (total respondents)  Those with college savings are significantly more likely to have all other types of savings  14% of those with college savings don’t have any other type of savings
  20. 20. 20 32% 68% 0% 10% 20% 30% 40% 50% 60% 70% 80% Saving for retirement Saving for kids' college education Family Saving Priority Q28. WHICH OF THE FOLLOWING IS THE HIGHER PRIORITY FOR YOU AND YOUR FAMILY? T. Rowe Price 2017 Parents, Kids & Money Survey N=1,014 (total respondents) Gender Age Men Women Millennial (A) Gen X (B) Baby Boomer (C) Saving for kids’ college education 75% 60% 76% (B,C) 62% 61% Saving for retirement 25% 40% 24% 38% (A) 39% (A)
  21. 21. 21 Using Money From Retirement Accounts T. Rowe Price 2016 Parents, Kids & Money Survey N=216 (have taken money out of retirement savings) Q35. WHICH OF THE FOLLOWING THINGS HAVE YOU PAID FOR WITH MONEY TAKEN FROM RETIREMENT SAVINGS IN THE PAST TWO YEARS? (CHECK ALL THAT APPLY) 83% have used retirement funds for non-emergencies, and 47% for more than one non-emergency Emergencies Non-Emergencies 2% 18% 19% 22% 22% 26% 12% 13% 13% 17% 18% 21% 26% 33% 35% 0% 10% 20% 30% 40% Other Expenses while unemployed To pay taxes Car purchase or repair Health care costs Home repair/renovation Wedding Down payment on a home Replenish emergency fund Holiday spending Childcare/daycare Day-to-day expenses Vacation Kids' education Pay off debt
  22. 22. 22 1% 1% 9% 11% 44% 19% 16% 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% I don't contribute Every other year Annually Quarterly Monthly Biweekly Weekly Frequency of Contributions—College T. Rowe Price 2017 Parents, Kids & Money Survey N=538 (have college savings) Q27. APPROXIMATELY HOW OFTEN DO YOU CONTRIBUTE TO YOUR KIDS’ COLLEGE EDUCATION SAVINGS?
  23. 23. 23 College Savings Accounts T. Rowe Price 2017 Parents, Kids & Money Survey N=530 (have college savings and expect kids to go to college) 1% 2% 9% 10% 11% 12% 13% 21% 21% 23% 27% 27% 48% 0% 10% 20% 30% 40% 50% 60% Not sure Other UGMA or UTMA account Roth IRA Individual securities or brokerage account Annuity or other insurance product Traditional IRA 401(k) plan Certificate of deposit (CD) Checking account Savings bond 529 account Regular savings account Q37. WHAT TYPES OF ACCOUNTS DO YOU USE FOR COLLEGE SAVINGS? (CHECK ALL THAT APPLY) Total # of Accounts One: 51% Two: 19% Three: 13% Four+: 18% Mean: 2.25  21% of respondents use only a regular savings account, and 26% use only a regular savings and/or a checking account  31% of respondents use a traditional type of retirement fund for college savings (i.e., 401(k), traditional IRA, Roth IRA)
  24. 24. 24 When Saving for College Starts T. Rowe Price 2017 Parents, Kids & Money Survey N=530 (have college savings and expect kids to go to college) 1% 1% 2% 3% 3% 20% 29% 40% 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% Other After someone else opened an account for my child When my second child was born When I heard my friends were saving When my kids started thinking about which college to go to When we were planning to have children When my first child started school Once my first child was born Q38. WHEN DID YOU FIRST START SAVING FOR YOUR KIDS’ COLLEGE EDUCATION?
  25. 25. 25 Expectations About Paying for College 17% 24% 59% 0% 10% 20% 30% 40% 50% 60% 70% I will be able to pay the entire cost of college I will be able to pay most of the cost of college I will be able to pay some of the cost of college Q39. WHICH OF THE FOLLOWING BEST DESCRIBES HOW YOU FEEL ABOUT SAVING FOR YOUR KIDS’ COLLEGE EDUCATION? T. Rowe Price 2017 Parents, Kids & Money Survey N=985 (expect kids to go to college)
  26. 26. 26 Covering the Cost of College T. Rowe Price 2017 Parents, Kids & Money Survey N=818 (expect kids to go to college and will not be able to cover entire cost) 4% 4% 8% 8% 12% 13% 14% 20% 21% 22% 27% 31% 35% 45% 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% I haven't thought about it Other Sale of real estate Home equity loan/second mortgage Other family members PLUS loan Take money from retirement accounts Personal loan or line of credit Student loan (parents to pay) Credit cards Through regular income Student loan (kids to pay) Kids will work Grants/scholarships Q40. HOW DO YOU THINK YOU WILL COVER THE REMAINING COST FOR YOUR KIDS’ COLLEGE EDUCATION? (CHECK ALL THAT APPLY)
  27. 27. 27 Taking Money From College Savings 3% 11% 18% 68% 0% 10% 20% 30% 40% 50% 60% 70% 80% Five times or more Two to four times Once Never Q41. HOW MANY TIMES HAVE YOU TAKEN MONEY OUT OF YOUR COLLEGE SAVINGS IN THE PAST TWO YEARS OTHER THAN TO PAY EDUCATION COSTS? T. Rowe Price 2017 Parents, Kids & Money Survey N=530 (have college savings and expect kids to go to college)  32% of parents have taken money out of their college savings compared with 44% of those with a retirement fund who have taken money out in the past two years  Of those who have both retirement and college savings, 46% have taken money out of both  Those who have taken money out of college savings are more likely to use checking (32% vs. 10%), CD (30% vs. 16%), savings bond (34% vs. 18%), annuity (24% vs. 5%), Roth IRA (15% vs. 3%), Traditional IRA (26% vs. 6%), and 401(k) (36% vs. 10%) for college savings
  28. 28. 28 14% 16% 22% 23% 30% 13% 16% 20% 20% 22% 24% 24% 29% 0% 10% 20% 30% 40% Expenses while unemployed Car purchase or repair Home repair/renovation Health care costs To pay taxes Wedding Down payment on a home Replenish emergency fund Childcare/daycare Holiday spending Pay off debt Day-to-day expenses Vacation Using Money From College Savings Accounts T. Rowe Price 2017 Parents, Kids & Money Survey N=172 (have taken money from college savings) Q42. WHICH OF THE FOLLOWING THINGS HAVE YOU PAID FOR WITH MONEY TAKEN FROM YOUR KIDS’ COLLEGE SAVINGS IN THE PAST TWO YEARS? (CHECK ALL THAT APPLY) Emergencies Non-Emergencies
  29. 29. 29 Paying for College—Parent Debt Threshold 6% 8% 12% 14% 18% 18% 16% 9% 0% 2% 4% 6% 8% 10% 12% 14% 16% 18% 20% More than $150,000 $100,000 to $150,000 $75,000 to $99,999 $50,000 to $74,999 $25,000 to $49,999 $10,000 to $24,999 Less than $10,000 None Q43. HOW MUCH DEBT ARE YOU WILLING TO TAKE ON PERSONALLY TO PROVIDE YOUR KIDS WITH A COLLEGE EDUCATION? T. Rowe Price 2017 Parents, Kids & Money Survey N=985 (expect kids to go to college)
  30. 30. 30 Paying for College—Kid Debt Threshold 4% 5% 9% 11% 16% 18% 19% 17% 0% 2% 4% 6% 8% 10% 12% 14% 16% 18% 20% More than $150,000 $100,000 to $150,000 $75,000 to $99,999 $50,000 to $74,999 $25,000 to $49,999 $10,000 to $24,999 Less than $10,000 None Q44. HOW MUCH DEBT ARE YOU WILLING TO LET YOUR KIDS TAKE ON TO GET A COLLEGE EDUCATION? T. Rowe Price 2017 Parents, Kids & Money Survey N=985 (expect kids to go to college)
  31. 31. 31 Attitudes About College 41% 46% 56% 62% 65% 73% 75% 77% 85% 0% 20% 40% 60% 80% 100% I lose sleep worrying about college costs I don’t use a 529 for college savings because then I won’t be eligible for financial aid I feel guilty that I won’t be able to pay more for their college I would consider sending my kids to a less expensive college to avoid taking on student loans Because my kids will go to college before I retire, I feel like I should put money toward that first and save for retirement after I’d be willing to delay my retirement to pay for my kids’ college education I think nearly all students graduate from college with student loans I'm hopeful the cost of college will stop going up It's hard to save for your kids' college education when you're still paying for your own* Q45. HOW MUCH DO YOU AGREE OR DISAGREE WITH THE FOLLOWING STATEMENTS? (DISPLAYING PERCENT THAT AGREE) T. Rowe Price 2017 Parents, Kids & Money Survey N=985 (expect kids to go to college) * Only asked to those who currently have student loan debt
  32. 32. 32 Understanding of College Saving T. Rowe Price 2016 Parents, Kids & Money Survey N=1,014 (total respondents) 39% 56% 69% 71% 0% 20% 40% 60% 80% I lose any money left in a 529 college savings plan if my child doesn’t go to college or if there’s money left over when they finish Contributing to a 529 college savings plan will definitely impact your ability to get financial aid for college later You can save for multiple children within the same 529 college savings plan There are penalties to withdraw money from a 529 college savings plan when it will not be used for education Q46. PLEASE INDICATE WHETHER EACH OF THE FOLLOWING STATEMENTS IS TRUE OR FALSE (DISPLAYING PERCENT SAYING TRUE)
  33. 33. KIDS’ RESPONSES
  34. 34. 34 23% 8% 68% 0% 10% 20% 30% 40% 50% 60% 70% 80% I don't know No Yes Knowledge of Parental College Savings T. Rowe Price 2017 Parents, Kids & Money Survey N=1,014 (total respondents) Q97. DO YOUR PARENTS SAVE MONEY SO YOU CAN GO TO COLLEGE?
  35. 35. 35 9% 2% 89% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Not Sure No Yes Kids’ College Expectations T. Rowe Price 2017 Parents, Kids & Money Survey N=1,014 (total respondents) Q98. DO YOU THINK YOU WILL GO TO COLLEGE?
  36. 36. 36 64% 67% 73% 55% 60% 65% 70% 75% My parents talk to me about how much they'll be able to pay for my college I expect my parents to cover the cost for whatever college I want to go to I would consider going to a less expensive college to avoid taking on student loans Q99. HOW MUCH DO YOU AGREE OR DISAGREE WITH THE FOLLOWING STATEMENTS? (DISPLAYING PERCENT THAT AGREE) Kids’ Attitudes and Perceptions T. Rowe Price 2017 Parents, Kids & Money Survey N=1,014 (total respondents)
  37. 37. 37 29% 24% 47% 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% Not sure Their retirement My college Perceived Savings Priorities T. Rowe Price 2017 Parents, Kids & Money Survey N=1,014 (total respondents) Q100. DO YOU THINK IT’S MORE IMPORTANT FOR YOUR PARENTS TO SAVE FOR THEIR RETIREMENT OR YOUR COLLEGE?
  38. 38. RESPONDENT PROFILE
  39. 39. 39 50%50% Respondent Profile 31% 20% 24% 25% South Northeast West Midwest Q2. REGIONQ1. AGE Q3. GENDER Men Women Q5. HOUSE HOLD INCOME 82% 10% 5% 3% 1% Married Single Separated/Divorced Married (Same sex) Widow/Widower Q4. MARITAL STATUS 35% 55% 10% < 35 35–50 51 + 23% 49% 28% < $50K $50K–$99,999 $100K + 71% 14% 13% 5% 2% White/Caucasian Hispanic/Latino Black/African American Asian Native American Q6. RACE/ETHNICITY T. Rowe Price 2017 Parents, Kids & Money Survey N=1,014 (total respondents)
  40. 40. 40 Respondent Profile Q7. EDUCATION LEVEL 65% 16% 10% 5% 4% 2% 1% Employed full time Employed part-time Stay at home parent Self-employed Unemployed Retired Student Q8. EMPLOYMENT STATUS 1% 10% 25% 11% 31% 22% < HS graduate HS graduate Some college Associate's degree Bachelor's degree Graduate degree 21% 54% 19% 7% 1 2 3 4 + Q9. # KIDS IN HOUSE HOLD 53% 47% Q11. KID GENDER BoysGirls Q12. KID AGE 14% 11% 16% 12% 15% 19% 13% 8 9 10 11 12 13 14 T. Rowe Price 2017 Parents, Kids & Money Survey N=1,014 (total respondents)
  41. 41. 41 Respondent Profile 24% 57% 15% 4% 1% None One Two Three Four + # BOYS IN HOUSEHOLD KID GENDER MIX 15% 24% 61% Girls only Boys only Boys and girls # GIRLS IN HOUSEHOLD 15% 60% 21% 3% 1% None One Two Three Four + T. Rowe Price 2017 Parents, Kids & Money Survey N=1,014 (total respondents) 81% 18% 1% None One Two + # KIDS 8-14 IN HOUSE HOLD # KIDS < 8 IN HOUSE HOLD 55% 33% 10% 2% None One Two Three+ # KIDS > 14 IN HOUSE HOLD 68% 28% 4% One Two Three+
  42. 42. OBJECTIVE AND METHODOLOGY
  43. 43. 43 Objective and Methodology Objective  To understand the basic financial knowledge, attitudes, and behaviors of both parents of children ages 8-14 and their children ages 8-14. Methodology  T. Rowe Price commissioned an online survey of parents of children ages 8-14 and their children ages 8-14.  The survey was fielded from 1/18/17 to 1/26/17, with parent quotas of approximately 50% men and 50% women.  A total of 1,014 parents and children ages 8-14 in the U.S. participated. The margin of error is +/- 3.1 percentage points. All statistical testing done among subgroups (e.g., boys versus girls) is conducted at the 90% or 95% confidence level, depending on sample sizes. Reporting includes only findings that are statistically significant at these levels.  The survey was fielded through ResearchNow. T. Rowe Price 2017 Parents, Kids & Money Survey
  44. 44. THANK YOU. 201708-234779 T. Rowe Price Associates, Inc.

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T. Rowe Price’s 2017 Parents, Kids & Money Survey revealed some significant differences in parents’ inclination to save and pay for college based on the gender of their child. We found that parents who have all boys are going to greater lengths to support their kids’ college education than parents of all girls. Learn more in this deck.

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