--- title: 'Checklist: Saving for college' description: Unsure how to start saving for college tuition? Saving for college just got a little bit easier with the help of this handy checklist. slug: checklist-saving-for-college author: Annie Stuart reviewer: Sheldon H. Horowitz, EdD published: '2019-10-16T11:43:58.877Z' thumbnail: https://cdn-images.understood.org/p0qf7j048i0q/452BD6DFEE064A47AB1BBFE82ADC882C/674d7fcee5bef249ddcd2fe4decd644e/81754437.jpg source_url: https://www.understood.org/en/articles/checklist-saving-for-college lang: en --- # Checklist: Saving for college Want to save for college, but just don’t know how to get started? Take a deep breath and take the first step. The sooner you do it, the better. This college savings checklist can help you navigate the process. ## Planning - Gather up all of your financial documents listing your assets and debts. Consider meeting with a financial planner to see how saving for college fits your overall financial picture. - Calculate how much you’ll need for college, given annual increases in tuition and related costs. - Explore online financial calculators to help with budgeting. You can find a few at The Motley Fool, Bankrate, or ClearCheckbook. - Discuss college costs with your teen, including private vs. public vs. community colleges, out-of-state tuition, living at home, work-study and part-time jobs, and transportation costs. ## 529 Plans - A prepaid tuition plan and a college savings plan both offer great tax savings. Study both to figure out which will work better for you and your child. - Study your state’s 529 plans and get more information at the [College Savings Plan Network](https://www.collegesavings.org/). - Find out how your taxes will be affected. Also be sure to understand any related fees and expenses, limitations, withdrawal restrictions, investment options, and impacts on financial aid eligibility. - Start making regular contributions as early as you can. ## Coverdell Education Savings Accounts (ESAs) - Learn about Education Savings Accounts (ESAs) that let you make an annual nondeductible contribution to a special trust account. - Check out eligibility and contribution limits. - Compare the advantages of an ESA with a 529 plan. ## Individual Development Accounts (IDAs) - Find out if you’re eligible for an Individual Development Account (IDA) that helps low-income families save for college by matching each dollar saved. There are more than 500 community-based and funded IDA programs in the U.S. --- ## Explore related topics and articles - [10 steps to a more organized college application process](https://www.understood.org/en/articles/10-steps-to-a-more-organized-college-application-process) - Applying to college is a big job with many moving pieces. And projects that require multiple steps and deadlines can be difficult for kids with learning and thinking differences to tackle and break down. Understanding the application process and staying organized can make this job more manageable f - [9 steps for easing the transition to college](https://www.understood.org/en/articles/9-steps-for-easing-the-transition-to-college) - Teens who are headed to college dont have to wait until high schools over to start preparing for the transition. There are things they can do now to address challenges that may come up. Follow these steps to help teens with learning and thinking differences get ready for college. 1. Practice breakin - [Checklist: Questions about colleges with special programs](https://www.understood.org/en/articles/checklist-questions-about-colleges-with-special-programs) - To meet the needs of students with learning and thinking differences, colleges offer a range of support services. Some even offer specialized programs, usually at an added cost. But how can you tell if a specialized program will be a good fit? Knowing what questions to ask, and which details to look --- ```json [{"@context":"https://schema.org","@type":"WebPage","@id":"https://www.understood.org/en/articles/checklist-saving-for-college#webpage","url":"https://www.understood.org/en/articles/checklist-saving-for-college","description":"Unsure how to start saving for college tuition? Saving for college just got a little bit easier with the help of this handy checklist."},{"@context":"https://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"item":{"@id":"https://www.understood.org/en/articles/checklist-saving-for-college","name":"Checklist: Saving for college"}}]},{"@context":"https://schema.org","@type":"Article","datePublished":"2019-10-16T11:43:58.877Z","description":"Unsure how to start saving for college tuition? Saving for college just got a little bit easier with the help of this handy checklist.","headline":"Checklist: Saving for college","url":"https://www.understood.org/en/articles/checklist-saving-for-college","publisher":{"@type":"Organization","@id":"https://www.understood.org/#organization","name":"Understood for All Inc","logo":"https://cdn-images.understood.org/p0qf7j048i0q/307jFAYQevghG8nQMCjh89/ccdbbec895765824db43f6d30b496e83/logo_lockup_navy.jpg"}}] ```