College is expensive, and children born today will face tuition costs at least two times higher than they are now, so the sooner you start saving for college, the more time your money has to grow. It is less expensive to save for college than to borrow. That is why many parents decide to save to pay for at least half of their children’s college costs through a combination of savings/investments, current income, and loans. It is never too late to start saving! A 529 college savings plan or prepaid tuition plan offers valuable tax savings, and every dollar you save today is a dollar less you’ll need to borrow.