Using NELS data I examine parents' perceptions of paying for college before their students enter high school. Findings suggest that racial wealth disparities may help explain differences in parents' perceptions of paying. In addition, Hispanics and low-income families are less likely to have information about financial aid and more likely to report that their child will need to earn money for college. The results suggest that while availability of funds may most affect African Americans parents' perceptions of paying for college, lack of money and lack of information define the perceptions of Hispanic and low-income parents.