Financial products such as 529 College Savings Plans and life insurance can be used to supplement college savings and help make the process less of a burden so that your child can receive the college education he or she deserves. There are effective ways to save and plan for your childrens' college expenses.

529 College Plans:

A world of knowledge, a world of culture, a world of freedom to become whoever they want to be, these are the rewards of education. Higher education may seem financially unreachable to many people, but with some careful planning, a 529 education savings program can help you give the world to your children.

site: www.529andmore.com

This site has a lot of information on these college funding plans.

Section 529 Plans:

529 Plans generally allow broad use of plan assets. Account assets can be used to pay qualified higher education expenses including tuition, fees, room and board, books and supplies, and other expenses. Funds can be used at any accredited post-secondary public or private school in the U.S. This includes accredited two- and four-year undergraduate programs, technical schools, graduate, and professional schools.

These are state-run educational savings plans that enable you to put money aside for education that grows on a tax-deferred basis as long as the plan satisfies the basic requirements. The fees, expenses, and features of 529 plans can vary from state to state. 529 plans involve investment risk, including the possible loss of funds. There is no guarantee a college funding goal will be met. A 529 plan is an investment program. The state selects the investments included in the program. Some states may let you choose from a list of investment options while others offer only an investment package.