Podcast host Mason King recently used an online calculator to estimate what it might cost to send his 5-year-old son to college someday—and the answer shocked him.

So he's talking with Peter "Pete the Planner" Dunn this week about when parents need to start saving, what savings vehicles to use and whether parents should go into debt to fund their kids' education.

The IBJ podcast is brought to you by First Person Advisors, a subsidiary of NFP.