Answer: $15,385

• Regardless of whether or not you plan to go to college, how much do you anticipate having saved prior to high school graduation? 
• Have you had "the conversation" with your parents/guardians about how much they expect you to contribute to college savings OR if you plan to live at home after high school how much they want you to contribute in "rent?"
• Why do you think that 40% of parents haven't had that discussion? What makes it difficult? 

Here's the ready-to-go slides for this Question of the Day that you can use in your classroom.

Behind the numbers (Fidelity):

While still planning to cover the majority of the costs (62 percent) themselves, the study found parents want their children to set aside a whopping average of $15,385 by high school graduation, up from $12,431 in 2016. Similarly, fewer parents feel it's their obligation to foot the whole bill for their children's college (49 percent, down from 56 percent in 2016).

Considering these enhanced expectations, it's surprising that many parents are delaying critical conversations with their children about chipping in for college. In fact, 40 percent of parents with sophomores or older haven't discussed with their kids that they're expected to contribute to college savings, up from 31 percent in 2016.

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Have your students take the NGPF PAYBACK Challenge. Your students play PAYBACK, write an essay and you pick the best one. Over $130,000 in scholarships available! 

About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.

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