Parents plan to cover 64 percent of their children’s total college costs. However, they are on track to meet just 28 percent of that savings goal, according the most recent College Savings Indicator Study by Fidelity Investments.

Parents also expect their children to contribute an average of 35 percent towards the cost of college by tapping their own savings accounts, earning income from working part-time jobs and taking out student loans.

To help clients increase their savings, Fidelity suggests the following five steps:

1. Create a plan. Fifty-nine percent of parents surveyed had a plan to reach their college savings goals, and 52 percent of those felt they were on tack to reach that goal. Only 16 percent of parents without a savings plan felt they were on track to reach their goals.

2. Commit to a 529 college savings account. Ninety-three percent of parents saving in a dedicated college account said it helps them save and stay on track. Families using 529 accounts felt confident about how best to save, they saved more each month and were more likely to talk to their children about creating a family plan to pay for college than those that were not using a 529 plan.

3. Save as you spend. Fidelity suggests using a rewards credit card that earns money toward college savings – one either directly connected to a 529 plan, or one earning cash back that can be earmarked for college savings. Twenty-four percent of families surveyed currently use these credit cards, and it is a simple way for families to get a college savings fund started, says the Boston-based investment firm.

Also, Fidelity suggests asking friends and family to make a contribution towards college savings in lieu of traditional birthday and holiday gifts. Currently, only 21 percent of parents reported asking family to consider gifting to a college fund.

In addition, parents could re-allocate pre-school dollars. Parents spend an average of $790 in monthly fees for daycare and afterschool care, says Fidelity. That money could be redirected to a college savings account as the child gets older. Fifty-six percent of those currently paying these fees plan to re-allocate some of those dollars to college savings account in the future, according to the survey.

4. Do your homework. Approximately half of parents said they need additional education about how best to save for college, saying they are confused about: what accounts are best to save in (49 percent), how to invest savings (50 percent) or where to go for advice regarding college savings (48 percent).

5. Seek professional advice. Six out of 10 parents reported feeling overwhelmed by saving for college. Financial advisors, school counselors and college planning professionals are available to help, and seven out of 10 families working with a professional reported feeling confident that they have a good understanding of how best to save.

One-third of parents surveyed said they were asking their financial advisors to help them with their college savings decisions. Of those, 36 percent said that they would like their advisors to help them determine the share of college costs that their children should bear. Also, 65 percent of those who use an advisor have talked to their children about how the family will pay for their college education.

“Working together to talk through priorities and determine opportunities to save can help families develop a solid, realistic plan that they can stick to—which is imperative, given that most families need to step up their savings efforts to help meet college goals,” said Keith Bernhardt, vice president of college planning at Fidelity. “Parents are taking a team approach to college funding, which is perhaps a more practical way to look at it, since it can be valuable for kids to have some ‘skin in the game’ when it comes to their education.”