Survey: More Grandparents Paying for College - KTVN Channel 2 - Reno Tahoe Sparks News, Weather, Video

Survey: More Grandparents Paying for College

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Isabelle Lishewski is getting ready for her final year at Arizona State University.

Her degree will be made possible by her grandparents who paid for school.

"Way back when I was born and I have two older brothers, my grandparents decided that they wanted to start a college fund for all of us and that was there way to give back to us."

A survey from Fidelity Investments finds more than 50% of grandparents are saving or plan to save for their grandchildren's education.

"It's really become more of a team effort in the planning and saving for college," says Ed Monaco of Fidelity.

And a significant number of grandparents plan to contribute $25,000 or more.

Many grandparents polled say they are pitching in because getting a higher education continues to cost more.

The Department of Education says total college costs have jumped more than 500% in the past 30 years.

"I think that grandparents are recognizing that it will be difficult for their children to go to college without some help given the rising cost of college."

Lishewski says her grandmother doesn't want to be paid back but does expect a return on her investment.

"They say you know the biggest thing is get good grades and graduate and go on and be successful so that's how I'll repay them by doing my best in school."

And thanks to her grandparents she'll be leaving college debt free.
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