To make up for lost time, this chart shows the impact of combining regular monthly contributions with additional annual investments from tax refunds, job bonuses and family gifts. For a family just starting to save for a 10-year-old child, a combination of all these investments covers 84% of projected in-state public college costs in just eight years. Key takeaway: It’s never too late to invest for college. By funding 529 plans with manageable amounts from multiple sources, late starters may still have time to achieve their goals.