Families of college-age students are facing another struggle: the college tuition expense, but exchange traded funds (ETFs) can be a solution.

Some families are pressing financial offices of higher learning institutions for thousands more through a federal loan program, and financial aid administrators say they expect more and more calls. As more people request financial aid, there may not be enough to go around, reports Jonathan D. Glater for The New York Times.

For families who have children entering college years from now, there is another option: the 529 College Savings Plan. Some of them use ETFs exclusively. These tax-free savings plans are a good way to save tax-free for any college or university in the country. Can the plan be effective enough to help your family out when the time comes? Smart Money provides a calculator to see if such a plan can work for you.

iShares from Barcalys Global Investors has a 529 Savings Plan which utilizes ETFs and has these benefits:

• tax free/deferred growth potential
• diversified risk management
• estate planning benefits
• transparency of fees and underlying securities
• exposure to the largest family of ETFs, iShares

Tags: 529 Savings Plan