Financial Services » Banking » Saving for college in the U.S. | College saving - average amount saved by families through various vehicles, by ethnicity U.S. 2016

Average amount of American college savings in 2016, by ethnicity and saving vehicles

Average total college savings of parents in the United States in 2016, by ethnicity and saving vehicles

The data displays the average total college savings made by families in the U.S. through various savings vehicles, by ethnicity. The average amounts saved by White families for college by means of investments in 2016 amounted to 2014 USD, whereas in Black families this sum amounted to 2778 USD.

General savings/CDs 3569 3841 2586
529 plan 2540 3050 559
Checking account 1205 2059 903
Investments 2014 2778 1147
CDs 1460 1449 1017
US savings bond 727 1025 304
Prepaid state plan 428 913 243
Coverdell/Education IRA 599 478 160
Juvenile life insurance 707 1103 188
Trust 1256 495 273
UGMA/UTMA 521 356 119
Other means of saving 553 1480 1241
Total average savings 15579 19027 8740

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