When Should You Start Saving for College? A Timeline for Every Age

Saving for college is one of the biggest financial goals many families face—but it can also be one of the most overwhelming. The good news? There’s no single “right” time to start. Whether you begin saving when your child is in diapers or in high school, there are smart, effective strategies you can use at every stage.

Here’s a timeline-based guide to help you plan based on your child’s age—and make the most of the time and resources you have.

Infant to Preschool (Ages 0–4): Start Early, Start Small

If you’re able to start saving during these early years, you give your money the maximum amount of time to grow.

Why it works:

• Compound interest has more time to work in your favor.

• You can start with small contributions—consistency matters more than size early on.

Strategies:

• You can open a 529 college savings plan and set up automatic monthly contributions.

• Encourage friends or family to contribute in lieu of birthday or holiday gifts.

• Consider investing in age-based portfolios that grow more conservative over time.

Elementary School (Ages 5–10): Pick Up the Pace

This is a great time to increase your contributions if your financial situation allows.

Why it works:

• You still have a decade or more to grow your savings.

• Your child’s personality and academic interests are emerging, helping you plan more intentionally.

Strategies:

• Revisit your budget and look for opportunities to increase contributions.

• Use tax refunds or work bonuses to make one-time lump sum deposits.

• Continue with a 529 plan and monitor performance annually.

Middle School (Ages 11–13): Get Strategic

College feels more real at this stage, and saving should be paired with early planning.

Why it works:

• You have a clearer idea of your child’s educational goals and potential costs.

• You can begin preparing your child for the financial side of college.

Strategies:

• Talk to your child about college plans and set realistic expectations.

• Start researching scholarships and the financial aid process.

• Reassess your savings goals and timeline—adjust contributions if needed.

High School (Ages 14–18): Save Smart, Plan Hard

Even if you’re just starting to save now, it’s not too late—every dollar counts.

Why it works:

• You can combine savings with other funding sources like scholarships, financial aid, and part-time work.

• You’re approaching the point of withdrawals, so strategy matters.

Strategies:

• Maximize any last-minute 529 contributions.

• Avoid keeping college savings in your child’s name to protect financial aid eligibility.

• Create a college budget together, factoring in all costs: tuition, housing, books, travel, and more.

• Have a plan for withdrawing 529 funds strategically to cover qualified expenses tax-free.

What If You Haven’t Started Yet?

If your child is already in college—or starting soon—you’re not out of options.

Last-minute tips:

• You can still open and contribute to a 529 plan and use the funds for this year’s expenses.

• Look into payment plans, grants, and work-study opportunities.

• Consider federal student loans if needed—but borrow wisely and with a long-term repayment plan in mind.

• Talk to a financial advisor to make the most of what you can do now.

Final Thoughts

The best time to start saving for college is yesterday—the second-best time is today. Whether you’re just beginning or already well on your way, every bit of savings helps reduce the future financial burden for both you and your child.

College is an investment, and like any good investment, it’s most powerful when it’s part of a thoughtful, long-term plan. No matter your starting point, take the next step today—and keep moving forward.

*The fees, expenses, and features of 529 plans can vary from state to state. 529 plans involve investment risk, including the possible loss of funds. There is no guarantee that an education-funding goal will be met. In order to be federally tax free, earnings must be used to pay for qualified education expenses. The earnings portion of a nonqualified withdrawal will be subject to ordinary income tax at the recipient’s marginal rate and subject to a 10 percent penalty. By investing in a plan outside your state of residence, you may lose any state tax benefits. 529 plans are subject to enrollment, maintenance, and administration/management fees and expenses.