When it comes to college savings for children, it appears parents are no better than bosses who pay their male workers more.
Moms and dads tends to provide more financial support for their sons, a new study by Baltimore-based T. Rowe Price found. Of parents with only boys — whether one, two, or three or more — 50 percent have money saved for their kids' college compared with 39 percent of parents whose broods are all girls.
Parents of boys are also more likely to cover the entire cost of college than parents of girls (17 percent versus 8 percent) and less likely to consider sending their male children to a less expensive college to avoid taking on loans. They also are more willing to prioritize saving for their boys' college tab over their own retirement.