It's no secret that the cost of advanced education can be very steep. The average annual tuition cost alone at a four-year private institution in 2011-2012 was $28,500, according to the College Board.
Annual tuition at a four-year public institution averaged $8,244 for in-state residents. Furthermore, tuition costs have been rising faster than inflation rates.
Careful planning, even if your child is getting close to college age, can whittle some of the costs down to a manageable size.