J.Lo's Hospital Baby Bill

Jennifer Lopez is yet to give birth to her twins, but she's kept a New York-area private hospital room on hold for two weeks, and counting, at a cost of thousands per day. According to the New York Post's Page Six, Lopez, 38, has reserved her own North Shore University Hospital room and decked it out with a leather coach. "No one's even allowed in there until she gets there," a hospital worker told Page Six. 
 

When you are able to run up a hospital bill to the tune of $20,000 or more, before you even set foot in the maternity ward (Hello, J. Lo), then you probably do not have to worry about starting a college fund for your bundles of joy. But for the rest of us with new babies in our lives, saving for college from the moment that newborn enters the world is very important. According to Sallie Mae, the nation’s leading student loan company, even moderate regular contributions can add up to big savings over time. For example, a family who saves $4 per day for 18 years will have more than $26,000 by the time their child is ready to head off to college.

“Saving just a little bit each month will add up quickly, and the sooner you begin, the more money you will have to make a big down payment on the cost of college," says Martha Holler, a spokesperson for Sallie Mae. “With the college savings vehicles now available to families of all financial means, it has never been easier to start saving for a higher education.” Two options designed to encourage savings to cover future college expenses include 529 Plans and Coverdell Education Savings Accounts.