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According to A.G. Edwards’ online calculator, sending my three young children to a four-year public university will total somewhere around $384,000. That’s public. If the trio falls in love with private institutions—the kind that make parents brag and cringe simultaneously—the combined figure shoots up to $992,000. Let’s go ahead and call that what it is: a cool million.

Edwards’ calculator certainly isn’t the only one; there are dozens of frightening abacuses aimed at moms and dads, each varying slightly. The final figure may be a moving target, but the point is clear: College costs aren’t going down, and families need game plans.

Taxable accounts still work well, but 529 plans, which allow a parent (or another adult) to set aside money for the post-secondary education expenses of a designated beneficiary, are more popular than ever. Consumers have opened 9 million 529 accounts since 1997, according to the College Savings Plans Network, an affiliate of the National Association of State Treasurers.

In a 529 plan, funds grow tax-free, and as long as they’re ultimately used for eligible expenses like tuition, room and board, books and equipment and you pay no federal taxes at the time of withdrawal. They can also be transferred to other “qualified family members” if the original beneficiary doesn’t go to college.

Today, every state features at least one plan. Public entities manage some, and brokers manage others. In most cases, consumers are not bound by residency and are free to shop the nation.

“You’re going to want to break each plan down,” says Tiffany Finney, a financial adviser with JWA Financial Group in Dallas. “The best are going to feature low fees, diversified options for investing and state tax benefits.”

Louisiana’s START plan, administered by the State Treasurer’s Louisiana Tuition Trust Authority, has been around since 529s launched 10 years ago and has earned high marks. The independent organization

savingforcollege.com gives START 4.5 out of a possible 5 in its “5-Cap” rating.

START is only available to Louisiana residents and features state tax breaks and an annual match of 2% to 14%, depending on income. The initial minimum contribution is $10, one of the lowest in the country. There are no fees other than the underlying costs of the funds, which include Vanguard options and the State Treasurer’s Fixed Income Fund.

START also features age-based portfolios, which Finney says makes sense. Investments are rebalanced based on the age of the child, so that as he or she gets closer to college, investments become more conservative.

Throughout its life, a 529 plan will generally be invested more conservatively than other vehicles, a bone of contention for Adam Bold, founder and chief investment officer of The Mutual Fund Store and a national radio host.

“Ultimately, what you care about is how much is in your account when it’s time to use it,” Bold says. “In a 529, you’re usually only allowed to make changes once a year. I like more flexibility than that.”

Bold says a taxable account that parents informally designate “the education fund” works better because it has the potential to grow at a higher rate and it allows families to adjust to unforeseen situations. If a child ends up securing scholarships and requires less in college-related expenses, parents can use funds in a taxable account to help their son or daughter start a business or buy real estate, he says.

While he concedes that a 529’s incentives might bring new investors into the college savings fold, Bold says there’s one thing all consumers need to do before socking away money for tuition: get your retirement house in order.

“There are a number of ways you can pay for college,” he says, “but the only way to pay for retirement is to save for it during your working years.”

But putting away any amount for college probably can’t hurt, Finney says, even if you get a late start.

“You still have their remaining years at home and the four years they’re in college to continue saving,” she says. “It’s a great way to set money aside.”