The principle of planning ahead applies to sending kids to college, as it does to other financial areas of your life. In The Cost of a College Education, compare the price of public vs. private college and get some tax-saving tips. Take a look at your investment options, such as Coverdell education savings accounts (ESAs) and 529 college savings plans, in College Investing Primer and Education Investments.
There are other ways of paying tuition, aside from college savings plans. Read Strategies for Paying to find out about custodial accounts, CollegeSure CDs, and baccalaureate bonds. And of course, check out the details on applying for Financial Aid in the form of scholarships and loans, to provide the extra funding you may need.