The costs of college have never been greater, and they are expected to continue growing. Further, admittance into the best colleges is more competitive today than at any point in the past century. Investing in your student's education now might net them a handsome scholarship, and a more flexible future. If student loans will be necessary to pay for college, your student (and quite possibly, the cosigner) are especially vulnerable post-graduation.

STEM fields have been touted as the future o...