College is a costly endeavor, that’s no secret.

But paying for it doesn’t have to be a huge financial burden, so long as you’re saving the right way.

According to a new report from Sallie Mae, one of the smartest ways to save for college is grossly underutilized by Americans: the 529 college savings plan.

It’s a state-sponsored, tax-advantaged investment account that’s been around since 1996 — and yet, only 13% of families reported using one to cover college costs for the 2016-2017 school year, according to Sallie Mae’s survey. That’s down from 16% the previous year, read more >>>

Source:: BusinessInsider.Com