The 529 college savings plan market may be one of the best-kept secrets in the U.S. investment industry, according to a new survey.

A survey by Nebraska’s NEST 529 College Savings Plan  found that 57 percent of Americans are either unfamiliar with or do not know what a 529 college savings plan is, even though 54 percent of respondents report it is very likely or somewhat likely they or their child will have to take out student loans to pay for a higher education.

The survey also found that 529 plans are one of the least-used options for financing a child’s higher education, with only 13 percent of respondents saying they used the plans to finance their child’s higher education.

The survey found that 77 percent of respondents have never contributed to a 529 plan.

The most common methods parents use or plan to use to pay for their child’s higher education include financial aid (50 percent), scholarships (48 percent), personal savings (42 percent), student or parent loans (40 percent) and 529 plans (13 percent), according to the survey.

Deborah Goodkin, managing director of savings plans at First National Bank of Omaha, said that the results of the study underscored the necessity of a national awareness day for the 529 plans.

“Financial preparedness is an essential, solid foundation for every [college-bound student],” she said.

The online survey polled 1,000 U.S. adults.