Which account is right for you? Before you put aside a single dollar for your child's college education, consider these four questions.
YES	NO
Are you saving the maximum in your retirement plans?
Good. You're ready to save for college.	Fully fund your 401(k) first. You can borrow against it for college expenses, if necessary.
Is your adjusted gross income under $220,000 (for couples filing jointly) or $110,000 (for singles)?
You qualify for a Coverdell Education Savings Account. Withdrawals for certain education expenses are tax-free.	A state 529 college savings plan offers tax-free growth no matter what your income.
Do you expect to qualify for financial aid? Estimate your Expected Family Contribution and student financial aid.
Save in your name, not your child's. Under federal aid rules, 529s and Coverdells are the parents' assets.	Any savings vehicle will do.
Do you want to manage your own money?
You can with a Coverdell, a Roth IRA or a taxable account.	With a 529 you get a choice of managed portfolios that match your child's age and your risk tolerance.