Expenses to support children’s education have grown substantially over time. How do parents manage these costs? Although parental investment literature focuses on child expenditures, financialization of society has made widely available a range of financial instruments to parents, including earmarked savings plans, financial assets, and credit lines. Analyzing decades of the Survey of Consumer Finances data (1989–2022), this article reports on the significant growth in education savings, education debt, and financial assets under children’s names for families with children younger than 25 years. Importantly, although engagement in child education investment significantly increases over time for U.S. households, the kinds of financial instruments parents use vary substantially across income and race/ethnicity. High-income families, especially in the top 10 percent, are increasingly more likely to have pretax education savings and more financial assets under their children’s names. The opposite holds for Hispanic and Black households, and the latter are also more likely to be increasingly burdened by education debt for their children. Advancing the concepts of classed and racialized relational work, the authors suggest that the expectation of parents’ investment in their children’s education—given financialization, privatization, and rising tuition costs—is a driver of economic and racial/ethnic disparities among U.S. families.