The Role of Grandparents in Saving and Paying for College
sallie mae, how america pays for college, figure 11 It's been known for a while that grandparents help their grandchildren to save and pay for college. But what is that role exactly? Little has been known before. For instance, in Sallie Mae's How America Pays for College, grandparents are lumped into a category with friends and other relatives. In all, this group contributes 5%. Such data tells us little about the role of grandparents. However, a new Fidelity Investments illuminates the generosity of grandparents when it comes to college savings.