Things You'll Need:
- Investment Advice
- Calculators
- Financial Manager
- Savings Accounts
- Savings Bonds
- Investment Software
- Personal Financial Software
- Calculators
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Step 1
Identify when your children will most likely be going to college.
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Step 2
Determine how much you want to have saved by that point. Decide if you will be sending your children to public or private schools, since there is a large price difference.
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Step 3
Begin saving as soon as possible.
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Step 4
Choose where you want to deposit the money you will be saving. A savings account is safe, but offers a very low interest rate, while stocks can return very high rates but are very risky.
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Step 5
Consider investing in a tax-free individual retirement account (IRA) designed specifically for college education funds.
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Step 6
Make regular deposits into your account or accounts, and consider making extra deposits at holidays and birthdays, or other special occasions.








Comments
binu said
on 6/14/2007 i am 18 yrs old and i want to start a college fund for my sister i want to know hpw to fill application
Anonymous said
on 8/6/2007 If you are a single parent and receiving child support monthly, use that money to invest in your child's college fund.
Anonymous said
on 11/22/2005 Anyone can contribute to a qualified state tuition plan for a child - a parent, grandparent and even a non-relative.
Anonymous said
on 11/22/2005 A Qualified State Tuition Plan allows for much greater contributions to a child's college fund than an Education IRA. Earnings are not taxed until withdrawn unlike holding stocks and bonds. Check out the pros and cons of QSTPs.