[Silound]

Personally, I would be looking at Zero coupon bonds right now. Low face cost, tax advantages, the ability to plan for an exact duration to maturity, and the ability to lock down a given return now in uncertain economic futures are all huge benefits to education investments.

An ESA account (formerly an educational IRA) with an even split of duration ZC bonds and duration-value stocks (I like ExxonMobil, DollarTree, and Microsoft) should cover an education 15 years down the road fairly well.