I would assume that the goal if for your son or daughter to graduate from college. While most financial planners love to do a "tuition gap analysis" (how much will the university of your choice cost in the future vs. how are you saving now), you should consider other things to give your child a higher probability of graduating. Things like paying attention to their current curriculum, their grades, their level of self-esteem, your engagement with their teachers and school make a big impact in your child's future. As for savings, look into your states 529 College Savings Plans. Look online for a free College Calculator to also prepare to save for their future tuition costs.