A college degree is still a smart investment

Summer is almost over, which means it’s “back-to-school” time. If you have young children, you may be purchasing backpacks, pencils, notebooks and similar items. But one day, you could be shopping for colleges — and when you do, you’ll find the bill is a little bit higher than the one you get from your local school-supply store. That’s why it’s never too soon to start saving.

Just how costly is college? For the 2014–2015 school year, the average expense — tuition, fees, room and board — was $18,943 at a public four-year school and $42,419 at a four-year private school, a...