Here is an article I published on the UTBF site about the Obamas and how they are saving for college.  It's a quick and informative read but make sure that you click on the Wall Street Journal artcile.  It also has links to articles on the gift tax planning aspects of college savings.

David M. Frees III
David's practice, with its convenient offices listed below is
focused on wealth, estate, and asset protection planning and
the representation of trustees and executors.