College savings are amounts of money set aside for the purpose of paying for college expenses. Funds for college may be put in place as early as a child's birth or even earlier, and tend to be established by parents rather than students themselves. By planning well ahead financially, parents or students can ensure that the full extent of college education is possible. First off, college savings can be used to pay for tuition, the cost which accounts for the bulk of college expenses. Apart from tuition, money reserved for college savings should also be considered for room & board, books, and other expenses. This money is in addition to the financial aid provided by the college itself or through federal and private programs, but it might come into play when applying for financial aid.