The Timmons Savings Plan, which encourages families to save toward college costs, is analyzed. This plan allows for periodic (non-tax deductible) contributions to an account administered by the U.S. Department of the Treasury. The amount deposited would be matched by the federal government in exchange for the government's earning the interest on the deposits. Federal matching rates would be inversely related to family income level. The following issues are addressed: the estimated amount that would be saved by families in a given year; the estimated amount that would be saved by families for a college education, the estimated cost of the plan to the federal government based on several options, a comparison of the plan to an Educational Savings Account option, and the extent to which the cost of an undergraduate education could be financed by the plan. Using 1980 dollars, costs are estimated for attending four types of colleges and universities: public four-year, public two-year, private four-year, and private two-year. The plan is based on the assumption that the consumers do not change their allocation between consumption and savings despite changes in the general price level. Policy issues surrounding implementation of the plan are also briefly considered. (SW)