It’s never too early to start saving for college. Even if college is still a long way off, you and your family can take steps right now that will help when the time comes.

Talk with your family about:

• Opening a savings account. Putting even a few dollars into the account each month helps.
• Opening a Coverdell Education Savings Account. For each child under age 18, families may deposit $2,000 per year, starting from birth. You can use the money — tax free — to pay for college expenses.
• Participating in the DC College Savings Plan. You (and relatives and friends) can contribute as little as $15 per pay period to a special type of savings account, known as a 529 account, which allows you to take advantage of tax credits and save money that can be used at almost any college.
  
• Enrolling in programs such as Upromise. Through the Upromise program, a portion of the money you and your family spend on purchases for groceries, gasoline, online shopping, and other items and services can be contributed to your college savings plan.
• Get a summer job. Even if you save only a few dollars from a summer or part-time job, that can make a difference.

How much do I need to save?