As New Year’s approaches, people are thinking about what they could do in 2020 that they didn’t do in 2019. One thing to add to your list: put money in your child’s 529 college savings plan, which, like individual retirement accounts and 401(k) plans, allows your investments to appreciate tax-free as your children grow. You can withdraw the funds—also tax-free—to pay for qualified educational expenses: college or graduate or professional school, even a certain amount for private K-12...

Degrees from the nation’s most selective colleges are so coveted, some parents will lie, cheat and steal their way in while others put their kids deep into debt to get those bragging rights. But for people who want to give their kids a great education at a decent price, honors colleges of state universities are a terrific alternative. These are usually small, autonomous colleges within state universities, are more selective than their parent institutions, often have separate study programs,...