A college education does not come cheap. According to the College Board, the average public four-year college charges in-state students $9,410 in tuition and fees each year. Out-of-state students pay even more ($23,890), as do those who choose to attend private four-year colleges ($32,410). While most students receive some sort of financial aid, every dollar you save for your child’s future education expenses is a dollar (plus interest) less he or she won’t need to take out in subsidized or unsubsidized student loans.