Sashmitaa
Have you looked into 529 plans - these are state sponsored plans where you can invest in age appropriate investments - since your daughter is quite young, you can put invest in these plans - the advantage is that when you take it out and use it for college tuition, it comes out tax free - meaning, you do not pay any tax on the appreciation. You can check
Minnesota College Savings Plan. State rules vary and hence I cannot speak for MN - but I live in KS - any amount that you invest in such investments also get a deduction at the state level when you prepare your income tax return. I would strongly urge you to consult with a tax professional or investment advisor before you invest - so that you know exactly what you are getting into. There are some schools where you can pay for "prepaid tuition" - not sure how that works but I have heard of it. I would definitely start with the 529 plans. Hope this helps.