Differing ways to save for college

This website offers varying approaches on ways to save for college and at the same time save money via tax deductions and other schemes as outlined on the website.

College Savings Plans

Here is a link to the MEFA brochure. Basically this program lets you save for a college education now. Say for example, the cost of yearly tuition to UMass is $10,000 right now. I could begin saving now, and have that money applied toward paying for my education at a later date. So, if I gave $1,000 to the MEFA fund, then 10% of my college tuition would be paid for what ever date I choose to go to college. With the cost of a college education increasing at 5%/year, this has about a 5% return per year, compounded annually. Not too bad.

MEFA Informational Brochure