Planning? Here's some help
Tuition is such a big part of family financial planning that college-savings advice has become a cottage industry. Here are some websites and books that cover the subject well:
Websites
www.savingforcollege.com This may be the most comprehensive source of information on 529 plans. Each state's plan is reviewed, including investment options, administrative costs, and contribution limits. Joseph Hurley, who started and manages this site, also has a book: "The Best Way to Save for College: A Complete Guide to 529 Plans, 2003-2004," Bonacom Publications, $22.95.
www.investorguide.comThis site has information on many types of investments, but the "Personal Finance" section has several articles on college-financing strategies and options, including 529 plans, Coverdell accounts, tax credits, grants, and scholarships.
www.smartmoney.com
The website of SmartMoney magazine also has a Personal Finance section. It includes a "College-Savings Superpage" that analyzes the differences between UGMA, Coverdell Education Savings Accounts, and 529 Plans.
Mutual funds. The websites of most major mutual fund companies, including Fidelity, Vanguard, and T. Rowe Price, have articles and calculators to help families choose among the college-savings plans.
"The Standard & Poor's Guide to Saving and Investing for College," by David J. Braverman,
"The 529 College Savings Plan: The Smart Way to Fund Higher Education," by Richard Feigenbaum and David Morton, Sphinx Publishing, $18.95. Much like the savingforcollege.com website, this book gives a state-by-state breakdown of 529 plans and compares the 529 plan to other tax-deferred vehicles, as well as trusts.
"1001 Ways to Pay for College: Practical Strategies to Make College Affordable," by Gen Tanabe and Kelly Tanabe, SuperCollege, LLC, $19.95. This book discusses ways to find and win scholarships, how to negotiate with colleges for more financial aid, how to use tax-advantaged accounts such as the 529 plan, and how to qualify for government-subsidized loans. 