No matter where you are in the college prep process, saving for college and paying for college is on every parent’s mind. Depending on your situation and the amount of time you have to save, here are some excellent resources that will help you understand college savings plans.

SavingforCollege.com

SavingforCollege.com offers a free Family Guide to College Savings available in either Kindle, Nook, or PDF format. The guide advises parents on when to start saving, how to start saving, and college savings alternatives. It also gives a brief explanation of the tax savings you can expect and how to maximize savings. There are also numerous links on the site itself related to 529 savings plans, college expenses, and a tool to use to view the list of state specific plans. There is also a college cost calculator that helps you determine the cost of college based on your child’s age and the amount you wish to contribute along with a monthly savings estimate.

AffordableCollegesOnline.org

AffordableCollegesOnline.org has created a 529 Savings Plan Guidebook which can be easily printed from your browser. In the guidebook you will gain a better understanding of:

By using this guide, you will gain a better understanding of:

• How 529 savings plans work and how to establish one
• Who is eligible to establish and contribute to a 529 savings plan
• The pros and cons of other types of college savings vehicles
• How much may be contributed to a 529 plan
• The tax advantages associated with 529 plans
• The best time to set up a plan
• How to take the next step in obtaining some – or all – of the funds that are needed to fulfill the dream of a higher education.

U.S. News Education

On U.S. News Education: Saving for College you can read articles like:

• 4 Steps to Choosing Age-Based 529 Plans
• 5 Steps for Utilizing 529 College Savings Plan Funds
• 12 Questions to Ask Before Investing in a Prepaid College Savings Plan
• 4 Costly Mistakes Parents Make When Saving Money for College

Fidelty.com

Fidelity offers information you will need to plan your child’s educational future. On this site you can compare your savings options, find a 529 savings plan that meets your needs, learn about financial aid, and how much you will need to save.

University Parent

University Parent, an online resource for parents of college students and college bound teens, recently published an article:  What is a 529 Savings Plan? How it Helps. The article gives an overview of the plans and what you need to know once you have one and how to use it.

If your college-bound teen is young, you have plenty of time to start saving. If you have a student in high school, you should read the information about aggressive portfolios and how to maximize your investment. The above resources should help you decide how much and where to invest your savings.

Read Wendy’s Post: Sense and Cents for College and Retirement Saving

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Wednesday’s child may be full of woe but Wednesday’s Parent can substitute action for anxiety. Each Wednesday Wendy and I will provide parent tips to get and keep your student on the college track. It’s never too late or too early to start!

The bonus is on the fourth Wednesday of each month when Wendy and I will host Twitter chat #CampusChat at 9pm ET/6pm PT. We will feature an expert on a topic of interest for parents of the college-bound.

Wednesday’s Parent will give twice the info and double the blog posts on critical parenting issues by clicking on the link at the end of the article from parentingforcollege to pocsmom.com and vice versa.