Savingforcollege.com LLC, the premier Internet destination for objective information about 529 college savings plans, announced the results of a poll conducted on its Web site at www.savingforcollege.com, which suggests that a majority of American parents would be willing to put off retirement for at least two years to allow their child to afford their dream college.

Visitors to the Web site were asked to respond to the following question: Would you postpone your retirement by two years if it meant your child attending the college of choice without taking on more debt? Of 688 responses, 553 (80 percent) indicated they would be willing to do so if possible. Only nine percent of respondents would tell their child to find a less expensive college, while six percent said they would take on more debt to pay for the college instead of delaying retirement. Four percent indicated they didn't know, or "other."

"The results clearly show that parents are willing to make a substantial sacrifice in delaying their retirements to help their children go to their first-choice college," said Joseph Hurley, founder of Bankrate-owned Savingforcollege.com. "Rather than putting themselves into this situation, parents should do more to save for future college costs with 529 plans and other college savings vehicles," Hurley added.

About Savingforcollege.com LLC

Savingforcollege.com is an independent research, consulting, and publishing company providing financial professionals and consumers with comprehensive and objective information about Section 529 plans, Coverdell education savings plans, and other college investing strategies. The firm is headed by Joseph Hurley, the "529 Guru," whose book, The Best Way to Save for College - A Complete Guide to 529 Plans, was the nation's first and is still the most comprehensive assessment of 529 and other college-savings plans.

In December 2007, Savingforcollege.com was acquired by Bankrate, Inc.

About Bankrate, Inc.

Bankrate, Inc. (NASDAQ:RATE) ("Bankrate") owns and operates Bankrate.com, a leading Internet consumer banking marketplace. Bankrate.com is a destination site of personal finance channels, including banking, investing, taxes, debt management and college finance. Bankrate is the leading aggregator of more than 300 financial products, including mortgages, credit cards, new and used auto loans, money market accounts and CDs, checking and ATM fees, home equity loans and online banking fees. Bankrate reviews more than 4,800 financial institutions in 575 markets in 50 states. In 2006, Bankrate.com had nearly 53 million unique visitors. Bankrate provides financial applications and information to a network of more than 75 partners, including Yahoo! (NASDAQ: YHOO) , America Online (NYSE:TWX) , The Wall Street Journal (NYSE:DJ) and The New York Times (NYSE:NYT) . Bankrate's information is also distributed through more than 450 national and state publications.

Source: Savingforcollege.com

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http://www.bankrate.com/
http://www.savingforcollege.com/