<p>As an aside, I’m kind of smiling at your idea that people who had their children late are at a big disadvantage when college costs roll around.<br>
OK, back to your regularly scheduled programing…</p>
<p>As an ‘elderly’ mother, I will turn 59.5 year old while my child is still early in her college career. Rather than putting money in her college fund, I am putting pre-tax dollars into my retirement fund and will access some of that for her college needs.</p>
<p>While not necessarily a big disadvantage, there probably is some disadvantage because the number of working years is reduced if your kids go to college when you are in your early 40s vs early 60s. </p>
<p>I have a friend, 45, who next year will have 3 children in college with little to no merit aide. She went from being a SAHM to working part time to now working full time. She will work for the next 20 or so years cover the college costs and build additional retirement.</p>
<p>On the other hand, if she had those same 3 kids in the late 40s (instead of early 20s) she would be 60ish when they finished school.</p>
<p>But if you have your kids later in life and are in your 50’s or 60’s then and retired your income drops and you can qualify for more need base aid. I know that isn’t the OP’s situation but it does happen if the parents start working at a young age.</p>
<p>I agree with dragonmom, in that I think those who have children later in life should have been saving all along. My H was older when we got married, and he already had sizable retirement savings, so we switched to saving some outside of retirement funds at that point. I think people who are working should be saving, for retirement or whatever, even before they have children. Both of us grew up in frugal households, so saving was always part of our lives.</p>
<p>My dad retired while I was in college, and I did not see much change in need based aid. I did have scholarships, and I was paying my own way by working, so a little more aid might have helped.</p>
<p>For some families it makes sense to move money from ready-access and cash accounts into retirement accounts by maximizing deposits to 401(k), 403(b), and IRA accounts. This may be a good option for the OP, especially if there still is time before the children actually need to have financial aid paperwork filed.</p>
<p>People who start childbearing later- may have their children closer together- so they may reap the benefits of having two in college @ the same time- </p>
<p>Younger couples ( like moi) 
children may be more spread out, parenting takes place over longer period, but only one in college @ a time.</p>
<p>What happens with people like my parents, who will have one kid (me) in law school and another kid (sister) in college at the same time, and paying for both? (ouchie)</p>
<p>I guess being 6 years apart didn’t help all that much…</p>