You can choose colleges based on price. And you can prepay. Which path you choose will depend ultimately on how much you want to help, how much you can afford to help, and how much effort you're willing to expend to deliver that help. If they can afford it, however, and they do stick with it, their families will likely enjoy an abundance of good options when their students are ready for college. To find out more about the cost of college click here .
Financial aid is based in large part on available parental and student assets.
Problem is, if you have no assets, your student's college education won't be free. Further, the more they have to borrow, the more likely it will be that the loan terms will become progressively severe, and the larger the debt burden will be after college. Not to prepare for college costs could condemn your student and your family to years and years of heavy, if not crippling, debt. Although it may affect eligibility for some forms of financial aid, it does not need to be listed as an asset on the Free Application for Federal Student Aid. Put it wherever you are most comfortable putting it, and put it wherever you think it will do the most good.