It is estimated by some experts that a college education can lead to a lifetime earnings increase of around 250,000 U.S. dollars, however the rate of saving for college differs between generations. Almost 85 percent of parents agreed that college was an investment in their child's future. Over half of American parents were confident about meeting the costs of their children's college education in 2018.
The government offers some benefits for those who save for future college costs. One such example are 529 plans, which give tax advantages to savers. The assets of 529 plans has risen steadily since 2001. In 2018, American families saved, on average, 1,471 U.S. dollars for college in a 529 plan, whereas they saved only 27 U.S. dollars for college in Bitcoin or another cryptocurrency.