College-savings ambitions threaten parents' retirement plans

02/27/2013 | CNBC

Parents increasingly are risking their financial futures in order to help pay for their children's college tuition, a report from Sallie Mae says. The student-loan provider found that one-third of people who are saving for retirement expect to raid that fund to help pay for their children's college costs. In addition to risking their retirement, parents making that move can reduce their financial-aid eligibility for the next year, one expert says.

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