The best advice is to start saving as early as possible. Are you pregnant? Start now! Additionally, encourage your friends and family to help you along the way.

Every penny will help and the sooner you start, the better you can take advantage of the miracle of compounding through special college savings plans. If you push off saving, your child will incur more debt. You note that I said, “Your child will incur.”

Don’t use your retirement money to help pay for your child’s college. Remember, they are young and can borrow or apply for financial aid; you cannot borrow or get a scholarship for retirement.