How to pay for college

The Devines
Coconut Grove, Fla.

John and Marianne Devine dutifully started saving in 529 plans when their kids, Emily and Jack, were small. But the $50,000 they'd managed to sock away by the time Emily entered her senior year of high school three years ago would have covered little more than a year at one of the private schools she was considering, such as Boston College and Wake Forest.

But Emily also liked the University of Florida, and, mindful of the high price tag on the private schools, she decided to stick with a public college closer to home. Bonus: Good grades in high school earned Emily a Florida Bright Futures scholarship, worth about $2,000 a year. "When Emily chose Florida," says Marianne, "it's like her dad and I got a raise."

In fact, the family hasn't had to touch their 529 savings plan at all. That's a good thing since Jack, a sophomore, has his heart set on many of the same pricey out-of-state schools that his big sister passed on.

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