Did you know you can save for college with exchange traded funds (ETFs)?

iShares has an iShares 529 College Savings plan that’s built around its ETFs. The cost of college is getting more expensive every year, and it’s not a good idea to cross your fingers and hope for the best.

If you want to know what it’s going to run you, visit the calculator at CNN Money. Just make sure you’re sitting down first.

Morningstar also came out with their annual list of the best and worst 529 College Savings Plans.

A 529 account has federal tax advantages that will make it possible to defer taxes as long as the money is sitting in that account. And better yet, when the money is taken out, it remains tax-deferred so long as it’s used for higher education expenses.

The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.