Preparing for College Costs

[Simplyme]

What is the best way while the kids are young to put away money towards college? I am not keen on the banking or financial aspect of things so I am unfamiliar with things such as Bonds and CD's. Would the easiest and most efficient thing to be to just set up a regular savings account?

Any help or advice is greatly appreciated.

[DianaR]

Have you considered a trust? It might be a way to protect the money that is put aside while it is being invested to earn.

You might check with an accountant or banker to see what your options are.

[dheeruyadav]

you should consider investing in various investment, we have various scheme by government , one of the govt. Bodies like LIC have several schemes for childrens

[crystal]

It's really a good thing to prepare money for college in advance. Five years ago, I started setting aside a small amount every payday. It's a great help in building a fund for college. Have you heard bout college assurance plan?

[AmandaT]

While saving for a portion of a student's college education is wise, I don't believe the parents should pay for the whole experience.

College students really need to pay for at least 1/3 of the costs for schooling. The part time job they hold before and during this time will help them master time management.

In this day and age, one really needs to start getting real work experience as soon as possible!

[james]

I believe that it totally depends on how wealthy the parents are. I see no reason why any student should try to pay their way through college if the parents can easily afford it. They should concentrate on their studies and not on trying to find money to pay for the school fees.

[KrisNY]

My parents paid my entire way- ok I had to pay the phone bill.

How about putting money into the college funds. These are a great way to invest in your child's education. Also starting a college savings account is smart too- this way if your child decides to not go to school- you can still get the money out.