I hadn't realize that these middle class college grants were on the chopping block for this next school year.  I was just looking up something else completely different and came across news that there was a push to cut these benefits by 90%.  (Which I think is fair.  I think 'very low cost and great colleges' is more than good enough.)  By the time I saw this, the state budget had already passed.  Nothing was cut and the benefits will again be increased this next school year.  (Which I also think is fair.  Talk about last minute, making it impossible to plan if you have no idea what your actual cost will be.)

I *think* this means my last tuition estimates were spot on.  But I will hold off until it's official.  Until all the red tape is sorted and the money starts to show up in my bank account. 

I went through MM(20)'s rental application some weeks ago.  Fingers crossed!  I hadn't really thought about it before, but as I thought to rent logistics, I can see it's going to be a pain making sure that 3 roommates get their rent in time.  He's already largely moved his stuff over but will technically have no lease for 10 days.  He is using the same property management company as last time, so this whole process is much smoother than last year.   He's planning to move into a much nicer townhome (moving up from a small apartment).  It's very close to campus (closer than the "on campus" apartments were) and so MM(20) is intent on living without a car for another year or two.  

I will do an update on where we are at with those costs, but will wait until it is official.  Because he sorted out a couple of big rental messes last year, I am just letting it go and letting MM(20) figure it out.  But I think it's incredibly stressful he doesn't have the lease signed yet.  He just told me the new lease should be for August 2nd.  

Edited to add:  I am still waiting for that to be finalized, so that I can do an update on his rent for the last 2 years.  So that I can at least do a projection.  In the short run, not even sure if the 3rd roommate will work out or if they will just split everything 3 ways.

Second edit:  Never got around to posting this.  Some of it was because I expected an update any day.  But MM(21) hasn't been home most of the month.  So I have not seen him for more than 5 minutes.  & I don't know any other details other than the lease is signed, re: original plan.   (I have no idea where things landed re: drama). I am going to roll with the info I have and do some projections re: where we are at with college money.

MM(21) has $20K in his gifted college fund.  Tuition is roughly $20K for the last 2 years.  But we will get $4,500 in tax breaks and he will likely get another $7K+ grant this year.  (Still not certain if that will be $0 or $7K.)  It's plausible that MM(21) will still have ~$11K left in his college fund, at the end of Year 5.  Note:  I've only touch this fund to pay for his tuition.

It's Year 5 rent that I didn't have much of a plan for, and left it with MM(21) - last year - to circle back later.  For now, I think we will cover the Year 5 rent.  A lot of it of course depended on where he ended up for the last 2 years.   I've got $13,000 set aside for MM's rent specifically.  In addition, will presume another $2K of interest (over 2 years).   This will cover 18 months of rent.  

I've got 6 months of rent to figure out how to cover.   Roughly $5,000.  Because of the grant, I am eyeing MM(21)'s gifted college fund.  It's precisely what that money is there for.  $5K will buy him the difference that I don't have 'already saved' for his 5th year of rent.  If I pull $5K out for rent, he may still end college with $6,000 (gifted funds).  

If the math went another way, I'd have no problem telling MM(21) he needs to start chipping in towards expenses, etc.  But it sounds like he might be able to squeak by.

I am so very close to crossing off MM(21)'s college as 'done and paid for'.  But I won't be certain until this final year state grant sorts out.  I am hesitating because it was initially supposed to be $0.  I won't fully believe it until the money hits my bank account. 

Another Edit:  I know, I know.  But I didn't feel it was worth a new blog entry.  MM(21) just told me his new deposit amount on the townhouse ($750).  I decided to just pull that from his 'gifted college fund'.  Making a note about it because I don't care for his blase attitude about picking up his despot check from the old rental.  If he ever gets that money back, I will put it back in his college fund.  Trying to shift the financial pressure to him.

I can see it's more interesting to just update the kids' college fund balances when I do these posts.  Will start to see MM(21)'s balance dwindling down more these last couple of years.

MM(21) Year 4 'Gifted College Fund': $16,150 (+$5K ROTH IRA ~ unknown current value)

Note:  We have pulled $11,865 from these funds to cover first 3 years of tuition, one summer class, one expensive class fee, and a rental deposit.  I am also probably due a $2,500 financial aid refund (will deposit back into this fund, when received).  MM(21) will likely end his senior year with the $20K he started with.  Financial aid is just incredibly slow to sort out.  I will probably pay for the first two quarters before I start to get final numbers or refunds. So this account will be a yo yo in the meantime.

Clarification:  It was $20K when I started this post, but then I paid Fall tuition & took out that $750 rental deposit.  Tuition/grant/tax credit/interest will probably be a wash this school year.  Rental deposit should also be returned eventually.

DL(19) Year 2 'Gifted College Fund': $28,700

Note:  No plans to touch DL(19)'s college fund, as long as he is living at home and receiving significant state grants.