Thinking about saving for college tuition for a child who is more concerned with Bob the Builder or Yo-Gi-Oh than Ezra Pound and T.S. Eliot? There's no time like now to get started. Here are five recommendations on how to build wealth because accumulated wealth is, ultimately, what pays for college:

1 Pick a college and project tuition costs 15 years out at a 5 percent annual inflation rate. That's a rough guide. Even if you change your mind about the college, it will help indicate how much savings you will need to accumulate by the time college starts.

2 Set up a state 529 plan account, which provides income-tax breaks on contributions for parents or children in all 50 states. Essentially, these allow savings and interest to build without having to pay taxes on the accumulated funds. However, an early withdrawal brings income taxes and a 10 percent penalty tax.

3 For those who want their children to attend a private university, plan on putting aside $500 per month every year for at least a decade.

4 Make less aggressive investments - spurning risky stocks - as the college years approach because shares in companies can lose value as quickly as they gain it.

5 Avoid fee-based plans - that is, a fund that charges investors a fee based on the amount of the contributions - because fees reduce the size of the pool of savings.

Source: Richard E. Martin, Chartered Life Underwriter, co-owner of the Martin Co., an Anderson Township financial-planning firm founded in 1982

Where is the money?

These financial-aid programs are included in more than $105 billion offered in grants, loans or other subsidies to college students in 2003:

• Pell Grants: Federal grants provided $11.7 billion, an average of $2,421 to each of 4.8 million low-income students. They do not have to be repaid. For more information, call 800-4-FED-AID (800-433-3243).

• Subsidized Stafford Loans: Federal low-interest loans provided $22.4 billion. Interest is deferred until school is completed, but then students must repay. For more information, call 800-4-FED-AID (800-433-3243).

• Unsubsidized Stafford Loans: These loans provided $19.9 billion, a 6,000 percent increase over 1993. Unlike subsidized Stafford Loans, students must pay the interest on these. For information, 800-4-FED-AID (800-433-3243).

• Parent PLUS loans: Federal loans provided $5.4 billion, up by 322 percent from 1993. For information 800-4-FED-AID (800-433-3243). Parents must pass a credit test and pay interest and principal while the student is in school.

• Perkins loans: Federal, low-interest loans provided $1.3 billion based on need and offered by universities. 800-4-FED-AID (800-433-3243).

• Federal work study: The program provides jobs for graduate or undergraduate students who show financial need. They are paid with tuition credit in lieu of cash. The $1.2 billion, up 56 percent from 1993, in this federally subsidized program was funded through grants to universities or colleges. 800-4-FED-AID (800-433-3243).

• State 529 college savings plans allow people to save with pre-tax dollars. They have an average value of $6,753 per account, and U.S. families have invested a total of $39 billion. For more information: www.collegesavings.org.

Source: The College Board and College Savings Plans Network