What’s the best approach to paying for college — savings, loans, or both?

Start with a college savings vehicle (529 plan in the U.S.) to capture tax-advantaged growth and potential state tax benefits; encourage contributions from relatives. Balance savings with realistic expectations: many families find a mix of savings, scholarships, grants, and manageable loans is the most practical path. Prioritize grants and scholarships first; then federal student loans (fixed rates, borrower protections) before private loans. For parents, consider whether to borrow for college or to preserve retirement savings — prioritizing retirement is often wiser because parents cannot take out retirement later. Teach students to contribute via part-time work, apply for merit aid, and choose schools strategically to reduce long-term loan burdens.