Paying for higher education can be a daunting prospect for many prospective students and their families, especially if they have multiple children who expect to attend college at the same time.

While student loans are an option, many people don’t want to see their children and grandchildren saddled with student loan debt as they exit school.

Fortunately, there are a variety of investment and savings vehicles designed to help save for college. Let’s take a look at how much you might need to save.