Moms Focus on Academics, Not Finances

November 11, 2009

Women are more likely than men to be actively involved in their children's academic performance and to want to see their offspring go to college, but less likely to be involved in saving and investing to pay for college, a study released Tuesday by asset managers OppenheimerFunds suggests. Women with children who are approaching college-age are more likely to help their children research colleges, go on campus tours and apply for financial aid. But when it comes to saving for college, men take the clear lead. Of those surveyed who said their households had begun saving, 85 percent of men said they had primary responsibility for their kids' college funds, while just 65 percent of women said the same. Overall, though, college savings rates are quite low, with 43 percent of households with children reporting they've begun planning financially for college.

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