Moms want kids to go to college, but few plan how to pay for it


About 74% of women say it's very important for their kids to go to college and get a degree, according to a new OppenheimerFunds Inc. survey. But in many cases, women spend a lot more time preparing their children to get into college than figuring out how to pay for it.

According to the poll, women often leave the financial planning for higher education to their spouses. Of households planning financially for college, women took primary responsibility for the planning 65% of the time, compared with 85% of men. Women also determined who will pay for college 67% of the time, compared with 77% of men.

"I think if it's a two-parent household sometimes you have to split the work," Donna Winn, president and CEO of OFI Private Investments Inc., told WalletPop in an Interview. "But I also think a lot of us get caught up in the things that are day-to-day. It's a little easier for us to do that in the sense that you address the immediate need, and then by not addressing that future need you leave a big hole in what your kid can do."