How to take control of college costs

CHICAGO - A number almost as scary as 401 - as in 401(k) - for parents with college-bound children these days is 529.

The stock market swoon that has shrunk retirement savings by double digits this fall also has put a big dent in Section 529 savings plans, the state-sponsored programs for college costs that offer significant tax breaks, as well as other accounts earmarked for college savings.

The financial crisis makes it more incumbent on parents to make the college selection process a purchase decision that's akin to buying a car - or more precisely, a new car every year for four years - according to Tim Higgins, a...