It’s no secret that baby boomers and Generation X are notoriously poor savers. Whatever the reasons, there are likely large numbers from the boomer and Gen X group who find themselves unable to put away much money for their children’s college educations.

Enter the grandparents. According to a 2014 survey by Fidelity Investments, 53 percent of grandparents were saving or planned to start saving for grandchildren’s college expenses. A whopping 90 percent said that if asked, they would likely help with college costs in lieu of other gifts.