Study: 60 Percent Of Mass. Grandparents Plan To Help Grandkids Pay For College

Most Massachusetts grandparents plan to contribute to their grandchildren's college expenses, new research shows.

A study conducted jointly by the Massachusetts Educational Financing Authority and Fidelity Investments finds that 60 percent of grandparents in the state are saving — or plan to save — money for their grandchildren's education.

Of those saving/planning to save, 51 percent expect to contribute more than $50,000.

"There is some amount of responsibility, and I think it's also a sense that they are glad to be able to help out and help their own children in this endeavor," Fidelity's Martha Savery said.

The study finds 77 percent of grandparents believe it's important to contribute to their grandchildren's college fees.