Stock funds have historically almost always exceeded other investments over periods of ten or more years. What you should be looking to invest in are mutual funds with low expenses that do not charge a fee to purchase or sell. Do not just leave your money in one account for the entire period until your child attends school. You can make much on your investment by checking on the performance of the funds at least annually and moving under performing funds to a more financially benefiting fund. The Roth IRA will benefit you as withdrawals are tax-free as long as you have had the account for at least five years.
Education IRAs can be helpful as well.
The Hope Scholarship credit can be of some help also. State College Savings Plans can be rather lucrative toward affording a college education. These plans give you the opportunity to earn stock-market returns on college savings you do not need for several years. Contributions grow tax-deferred until the money is taken out of the account to be used for college. When withdrawn, the earnings are taxed at the student's tax rate, which is often much more beneficial than if it were taxed at the parents' tax rate.