How do I plan for my kid's college education?

Here are four types of savings accounts that can help you plan for your kid’s college education: 529 college savings plans are the most common way to save for your kid’s college education. That’s because there are tax advantages to the account, plus the potential to earn a return on your investment.

Should you have a college savings account?

This might seem like an odd college savings account suggestion, but a bank savings account can play an important, complementary role in saving for your child’s education. Sure, the return on any contributions to a savings account is minimal, but the funds can be used for any purpose without penalty.

Should you start saving for your child's college education?

A new NerdWallet survey found that 1 in 5 parents of children under 18 (20%) haven’t started saving for their children’s college education, but want to. Here’s how to begin. When choosing an account for college savings, look into tax-advantaged options. One such option is a 529 account, which is specifically designed to save for education expenses.