Personaly I don't have a degree and niether has my husband, not due to any parental financial troubles. He just couldn't make up his mind on what he wanted to do, and I couldn't quit thinking teaching was a lot more important than learning at what average age a kid does X. So he spen 8 years using up his parents money and I spent 2 teaching.
Also my father with his 2 year certificate makes more than my mother with her masters, somehow I think college is very over rated. Oh and we wont go looking at my FIL or MIL's income, they way beat all but my lawyer uncles income on the degreed side.
Now for my kids we take half of all monetary gifts after age 2 (he just hit that, some went in earlier) and put it away for college. Or more. My husbands family is very generous (they would bail us out if we asked) and he should have a large amount by the time he hits that age, but I don't guarantee he will use it for college any more than I did (I bought a car with mine, a neccessary car, course then I totaled it
, not so good). Anyway I do not bend over backwards for my kids, they appriciate more what they earn. That doesn't mean I'd go the other way and refuse any help though.