Did you know that the average student loan debt for a 2011 college graduate is $23,300?* It should come as no surprise that a recent study commissioned by Gerber Life reveals that 47% of parents are concerned that their child may graduate with a lot of student loan debt.
Loans are often a necessity to finance a college education. However, keeping loans to a minimum — and graduating college having little to no debt — is the goal.
How can a parent ease the burden of their child having to repay a large student loan? Starting to save for college while your child is young will help. Every dollar saved now with the Gerber Life College Plan is one less dollar that may need to be borrowed later.
*Federal Reserve Bank of New York