Parents are saving more for college this year than in the past, yet their preparedness could still use improvement.
The average amount saved is around $18,000, up more than 10 percent from 2016 — and the highest amount since 2013, according to lender Sallie Mae's 2018 report, "How America Saves for College."
More than 2,000 parents with children under age 18 were interviewed between Jan. 18 and Feb. 15.
"The increase in the average amount saved is significant," said Mark Kantrowitz, a student loan expert. "But it would be better for families to save more."