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Parents of children of all ages - CAREFULLY read this New York Times extensive article about saving for and paying for college.
It's the best preparation/overview you can get short of meeting with me. And I charge money for the explanation!
After you read it feel free to call me anytime with questions - I don't charge for phone calls and I like talking about this stuff! So much of it is spot-on and NOT what you're going to hear from other parents, guidance counselors and colleges themselves. To put it bluntly, most folks don't understand this shit, and don't want to admit that they don't.
That's my story and I'm sticking with it!