The cost of education is one of the biggest financial worries parents carry, and it tends to feel heavier the longer it’s put off. The good news: you have more options than most people realize, and starting — even small — makes a real difference.
Start by estimating the target
A good college savings plan starts with a rough estimate of future costs: tuition, plus room and board if that applies. You don’t need a perfect figure. Even a ballpark gives you something to aim at and makes the whole thing feel less abstract.
The familiar option: 529 plans
Most people have heard of 529 plans, and for good reason. They’re designed specifically for education, money grows tax-deferred, and withdrawals for qualified education expenses are tax-free. They’re a solid, popular choice for many families.
The options families often overlook
The right choice really depends on your family’s specific needs — your timeline, your comfort with different types of accounts, and how much flexibility you want. This is exactly the kind of thing a short planning session can clarify.
Match the strategy to your timeline
- Many years to go: You have room to let money grow, so consistency matters more than the monthly amount. Starting early is the single biggest advantage.
- A shorter runway: Protecting what you save often becomes more important than chasing growth, since there’s less time to recover from a downturn.
The best education plan is the one you actually start. Perfect can wait; started can't.
If college costs are on your mind, we can run a quick analysis of your timeline and goals and lay out the options side by side — including the ones beyond the standard 529 — so you can choose with confidence.
This article is for general educational purposes only and is not financial, tax, or insurance advice. Product availability, features, and terms vary by state and are subject to eligibility and underwriting. Please consult a qualified professional about your specific situation.