Planning for the costs associated with higher education can be done at any stage. Preferably, you would begin college cost planning when your children are very young or just born. However, like most things in life, this stage can sneak up on you and you may find yourself dealing with this issue now. Even though it is never too late to plan, it is common for families to rush the college planning process out of panic. The main issue here is planning and taking the time to think these issues through.