Parents are more likely to discuss money matters with sons than daughters

Females - parents and teens - both have lower expectations about their potential earning power

More than a third of parents polled admitted they don't talk to their teens about money at all

A new study, conducted by Junior Achievement USA and The Allstate Foundation, revealed a

Apparently, there exists a huge disconnect between parents and teens when it comes to who is expected to fund college.

According to a new survey conducted by Junior Achievement USA and The Allstate Foundation, nearly half of teens questioned (48 per cent) think their parents will help pay for college, but only 16 per cent of their parents reported planning to.

Of the 800 parents polled, more than a third said they don’t speak to their children about money at all, stating they want to 'let kids be kids'.

Thanks for nothing, dad: The study, conducted by Junior Achievement USA and The Allstate Foundation, found a huge disconnect between parents and teens when it comes to who is expected to fund college

'It is obvious that parents and teens need to have honest conversations about money management, including paying for college,' said Jack E. Kosakowski, president and chief executive officer of Junior Achievement USA.

'Together as a family, it is important to develop a plan for life after high school – whatever that looks like for your family.'

Even when parents do talk to their teens about money, it appears that girls are often side-lined.

Around 40 per cent of girls said their parents didn't talk to them enough about finances, compared to just 24 per cent of boys.

WHAT IS THE COST OF COLLEGE? According to the College Board, the average annual cost of tuition and fees for the 2014–2015 school year was as follows: $9,139 for state residents at public colleges

$22,958 for out-of-state residents attending public colleges

$31,231 at private colleges Advertisement

Furthermore, females - teens and their parents - both have lower expectations about their potential earning power.

Moms are significantly more likely than dads to say their child will earn $15k or less at their first job after graduation (26 per cent compared with 17 per cent respectively).

Similarly, when asked about their future earning power, 24 per cent of teen girls say they’ll make $15k or less at their first job, compared to only 16 per cent of boys who feel the same.

It appears things aren't improving either.