Parents less willing to take on debt for their children’s education

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Graduates From Harvard University in Cambridge, Massachusetts.

Parents are wising up when it comes to taking on debt to pay for their children’s college education.

That is according to a new survey from T. Rowe Price that was conducted earlier this year.

Just 14 percent of parents are willing to take out more than $75,000 in debt to pay for their children’s college this year, the survey found.

That is down from 26 percent of parents who were willing to do that in 2017 and 28 percent in 2016.