As graduation season kicks into gear, parents of high school seniors may be wondering how their little girls and boys suddenly became old enough to head out on their own.

And how they're going to pay for college once they do.

Whether or not parents should help their children pay for college is a topic that has been debated several times in this space, but that is not the topic for today.

Rather, the question for this column was sent by a reader named Robert, who wants to help save money for his children's college education. He just isn't sure how to do it.

Robert wrote in an e-mail that he lived in Florida before moving to Utah about five years ago.

"In Florida there was a children's college prepayment program that was run through the state," Robert wrote. "You had the option of enrolling your children at birth and choosing between several different payment plans. Basically you prepaid for your child's college education over a period of five to 10 years, and they invested the money, which earned interest over time. You were guaranteed tuition for a bachelor's degree at any of Florida's state-run universities, providing you adhered to the strict curriculum for a four-year program. . . .

"My question is this: Does Utah have any such programs, and if not, what options are available to young parents wishing to get a jump on their children's college education?"

The answer to your first question, Robert, is that Utah does not offer prepayment programs. But the state does offer an alternative, and for help explaining it, I contacted Lynne Ward.

Lynne is director of the Utah Educational Savings Plan, a 529 college savings program, so-named for the section of the tax code that allows it. Several states established 529 plans after they were set up by Congress in 1996, and Utah's consistently ranks among the nation's best.

When Utah residents set up UESP accounts, they do not have to worry about a minimum balance or minimum contribution requirement. Whatever you can afford, the UESP will help you save. And people are saving, as UESP now has $1.54 billion in assets.

Also, Lynne says, grandparents or other relatives can set up 529 accounts for their grandchildren, nieces and nephews. In fact, 19 percent of the UESP's 74,000 accounts were set up by grandparents.

Once you start the account, you can contribute as you wish and watch your investment grow. Of course, as with all investments, it is possible that UESP participants could lose money. But assuming that doesn't happen, when the time comes for investors to withdraw their funds, any earnings are tax free as long as they are used for qualified educational expenses at an in-state or out-of-state public or private institution where federal financial aid can be used.