Another way to save up some money for college - a friend is doing this w/ her two kids - she writes a check to each child in the amount of $20 each week (she might have changed the amount to more now, I don't know). It is a tax write off (somehow) and the money goes into each of their college accounts at the bank (I guess some sort of savings account). While it is sitting there, it is earning interest (which was higher than what I thought it would be, but can't remember the exact amount). Anyway, she said that she started this when they were born and by the time they are 18, they will have a nice start.
My MIL does a money market account that draws in alot of interest and stuff - I forgot how much it has grown since she started it a few months ago, but it has grown alot.
I know this isn't really what you were looking into, but I thought I would share. In any way, these are good ways to save back some money.
Good luck!
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