My parents were never able to really save for college for me. I had to get my own financial aid and grants. Now that I have kids, I realize just how hard it is to save. But I am going to open an account that the grandparents and myself will be able to put some money into for birthdays or christmas or when ever that is tax exempt and can only be withdrawn for college. This is a good plan for those of us who want to set something aside but just cannot seem to be able to save anything extra.