You simply have to type in some basic information, such as your child's age or the type of school. Some sites even allow you to type in the exact school you want your kid to attend. Your preferences when it comes to control over money. Your tax situation. Whether financial aid is being tapped.
Financial aid can be tricky because the guidelines change so often.
So you shouldn't assume that the rules now in place will be the same by the time your child goes to college. According to a survey by the College Savings Plan Network, about half of Americans rely on passbook savings accounts to pay for their children's college tuition. Sixteen percent of them were using U.S. savings bonds. Forty-seven percent of those surveyed were using passbook savings accounts. Seven percent of those surveyed were using life insurance.