Evaluate various savings plans
Once you determine how much you need to save or can afford to save, you need to decide what types of college saving vehicles you want to use. In addition to mutual funds, regular brokerage accounts, and bank savings accounts, there are now a number of tax-advantaged alternatives available to help you save for college.
There are six basic savings plans for college:
To help you understand the differences among these college savings options, use our Comparison of College Savings Options chart.
Step 4 - Define Your College Savings Goals