Poll: More than half of parents feel helpless about college expenses

(September 14, 2008) - Fifty-seven percent of parents say they feel helpless when it comes to paying for college, according to the second annual Futuretrust Hopes & Dreams survey conducted nationwide by Harris Interactive.

Current economic conditions seem to have more parents despairing. The percentage of parents that have not begun saving for their child's education, nor plan to, has increased to 21%, an increase of 5 percentage points from 2007. Of those parents who are saving for college, 37% are taking advantage of 529 college savings plans.

As many people are reeling from the economic downturn their investments have experienced lately and most are uneasy about their portfolios, there is a bright spot when it comes to investing in your child's future. That bright spot is the College Illinois! Prepaid Tuition 529 Plan.

The plan allows parents to prepay for their children's education and lock in the current rates of tuition and mandatory fees. Yet despite these benefits and clear sense of peace of mind, one may find it difficult to switch from their current investment strategy.

More and more, we are speaking with folks who are hoping for an improved return on their investments. Many are understandably skeptical about the stability of the program and the role of the state in the College Illinois! Prepaid Tuition plans.

As a result, the host of questions and issues which arise from switching to such a plan appear, at least in the short term, to outweigh the benefits of stability, safety and security. As evidenced by the aforementioned statistics and the recent Harris Interactive Poll, parents are still apprehensive about such programs. As a result, some continue to base their strategy and hang their hopes on a market rebound.

Yet despite these perceptions, it is in fact extremely simple to take advantage of the safety and security of the College Illinois! Prepaid Tuition program.

With a variety of options and tools available and the extensive benefits that come with program participation, choosing the right program for your needs and those of your children should not be based on hope and wishful thinking but rather on the facts that we are faced with in today's state of the economy.

So what are the biggest hurdles facing those who are looking for alternatives?

And why aren't more parents taking advantage of the stability of such programs to safeguard their investments?

We'd love to hear from you...What are your thoughts?