Survey: parents paralyzed by college costs

Many parents are so overwhelmed by the perception of costly college tuition that they fail to take adequate financial steps to prepare for their children's education.

That's a key finding of a survey out today from Upromise, the Newton company that helps families save for college while making purchases from restaurants, supermarkets, and other retailers.

The survey, called the Upromise College Preparedness Report Card, found that most US parents and teens are misinformed about the true costs of a college education. (You can compare college loan rates on Boston.com here.)

"This exaggerated perception of costs may be contributing to a level of paralysis in parents who are either not aware of, or not utilizing, available financial planning options," said Upromise, which added that its goal is "to help families demystify the financial planning options available and help them attain the dream of higher education."
(By Chris Reidy, Globe staff)