The old adage, it's never too late, applies for starting a 529 college savings account. But, it's also never too early. Executive Director for Utah Education Savings Plan (UESP) Lynne Ward says as soon as your child is born, you should start putting money away for their advanced schooling. AND... if you sign up shortly after baby is born... you can get a FREE Onsie.
You also get multiple tax benefits for opening a 529 plan with UESP. No taxes on the gains IF the money is used for Qualified Higher Education Expenses; which include, housing, computers, books, and tuition.
Kilplinger's, Morningstar Investors Service and Clark Howard all ranked UESP as the top Savings Plan available in the country. You don't have to be a Utah native to open an account with them.