Financial Planning for Child: Education

Wonder plans, Returns, Insurance, Mutual funds, buy Property... are the endless suggestions one gets when you start thinking of planning for your child's education. When you start calculating the Future values of the cost of the Education 15-20 years, you realize, how much you need to save every month for the next 15 days. Keeping inflation in mind of 6 % may help but if one seriously looks at the rise in education cost, actual increase in fees payable at lets say top 10 MBA, MBBS, etc, the inflation factor might come to 10 %.
So, is there a "right" kind of solution, which takes all these factors into account. What are all these factors which one needs to count up before one starts to "Plan a Plan". I think I am going to the Top 10 formula for this and would then go to the next step of developing the Financial Planning.
Let Me have your views.
Cheers!
Taresh