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What Are My College-Savings Account Options?

Coverdells, UGMA/UTMAs, and 529s are among the most popular college-savings vehicles, and savers need to educate themselves on their best option for investing cost-effectively.

Note: This video is being featured as part of Morningstar's October 2014 College Planning Report Card special report. This video originally appeared Oct. 21, 2013.

Christine Benz: We are talking about paying for college today, and I'd like to go through some of the key vehicles that people might use, the key mechanisms that they might use to pay for college. Let's start with paying for college just out of your household cash flow or maybe out of a taxable brokerage account that you've set aside. What are the pros and cons of doing that?