Then participate in a prepaid college tuition program. You can pay for your child's education ahead of time, generally at a discounted rate.
Colleges offer some prepaid tuition programs, while state governments run many others.
You may prepay up to 100 percent of your child's future tuition at today's rates by buying tuition certificates that mature in the years when your child will be in college. When the certificates mature, you can redeem them for a guaranteed percentage of tuition and fees at any participating college. In return, you'll be guaranteed 10 percent of your child's tuition at that school in the future, regardless of how much tuition will cost. Understand how you'll be affected if your child decides not to go to college, chooses a different college, opts to attend school in another state, or doesn't qualify for the college selected. Find out what expenses aren't included in the prepaid package.