Although most parents probably don't have enough money in their 529 plans to cover anything but tuition costs, it pays to know the rules.

WSJ: What Counts as a Qualified 529-Plan Expense?

The problem sometimes is that students entering college take on huge amounts of debt to fund increasingly expensive college tuition costs with the expectation that their salaries after graduation will be able to cover the loan payments.

FORBES: More Evidence On The Student Debt Crisis: Average Grad's Loan Jumps To $27,000

Now the government has accepted the idea that students should pay some of their own way, why not let Oxbridge colleges charge a little extra to cover the costs of individual tuition?

ECONOMIST: Oxford and Cambridge: Down on gowns | The