Now that I'm a parent I've been thinking about starting a college savings fund for when my daughter goes to school. I know my parents didn't plan for me to go to college and I don't want to make the same mistake. Any parents on here care to share some info with me? I've been reading about 529 plans and several others but don't know if they are any good. Is it better to open up a high interest savings accounts and just save up on my own? Thanks for any help guys.

 

Im gonna Do it Myself

I created a separate account for my son....

Right now we are filling up his piggy bank and once it gets full we are going to dump it into his account and after that, im going to be putting like 30 bucks a pay check into his account

 

Well what my Step Daughters had setup was a CD from early on in age, and it matured pretty well... but you gotta watch cause the stock market really has a effect on that sorta thing and since the market isnt that great it can be risky. So a savings might be better off, and just have a direct deposit sent to there and you wont ever miss it from the check, and have bday money put into there and so on... the oldest one is in her 1st yr of college now but she received a lot of grants from being in honors and A student, so she only thing we are paying for at the moment is her room and board to stay on campus and what not and she was awarded a grant from my work too, so that basically paid for what 1 book... but she will be in school for like 8yrs I guess for being a Animal Vet.

 

Can you only imagine what the cost of college will be when shes ready to go? I belive if it were me, I would just put the cash away for a little while until this whole "slowdown" thing works itself out

I know here in Va. they really push the 529 plan big time.