dcollegelilyWhen is the best time for college planning? It’s when your baby is born. Sounds funny but not if you’re faced with the amount needed to pay your child’s college fees. I know because my parents had to sell part of our land to make us finish our college degrees. We’re three! I had to commend them for the full-support, we were able to finish and are now doing good in our chosen careers.

With the economic situation going awry, we can never be sure how much tuition fees would cost when our baby turns 20. Or if we are still able to work that time…it pays to save up for your child’s future while you are employed and able.


There are a number of college plans to choose from and it has totally evolved from what I remember when my daughter was born, especially the well-known insurance company then that I almost avail for my daughter. They didn’t anticipate that college fees would ascend so they made use of the money invested by parents for their other ventures.

Browsing about, here are different college plans available in the US. I haven’t researched around here since Vienna offers free college for locals and scholars.

529 college savings plans. A tax-free plan and this one lets you pre-pay tuition in today’s dollars (sans inflation rate).

 UGMA or Uniform Gifts to Minors Act. Same as 529 only pre-pay is not offered.

 UGTA or Uniform Transfer to Minors Act account.  Same as the UGMA account except this plan allows for the holding of additional assets such as property, royalties, and patents.

Whichever you choose for your child, do it now, as the ant saved for the rainy season early on than the grasshopper, so should we.