MM(21) Year 4 'Gifted College Fund': $19,150 $19,000 (+$5K ROTH IRA ~ unknown current value)

Note:  I've added 1st quarter financial aid refund (expected any day now) back to this account balance.  I only pull tuition from this fund, which is expected to be $0 (net) this school year.

I expect that tuition will be $9,000 next year (no grants).  This means that MM(21) could probably leave college with $10,000 gift fund remaining.  In addition to that ROTH IRA (funded with gift money).  

The last piece is figuring out that 5th year of rent.  I've got rent covered (money just sitting in cash) through end of 2025.  I am probably about 6 months short.  

I like the idea of pulling $5,000 out of the college fund to cover those last 6 months of rent.  I also have 'college rent money' just sitting here for DL(19) that will probably go unused.  & we have other buckets of money.  But I think both MH and I are kind of over it after cash flowing rent expenses in earlier years when MM(21) was the only kid we had in college.  We are ready to cross off MM's college as 'done and paid for' and would like to move on to other things.  Even if the 'the other thing' is just paying for DL(19)'s college.  

If we pull $5K out of the 'gifted college fund' for those last 6 months of rent, MM(21) will still be able to graduate college with $5K gift funds left.  & he will still have that ROTH IRA. 

This was mostly what I was anticipating, but I thought it was possible that MM(21) would get $0 in grants this year (wiping out his college fund by the time he graduated).  So it's nice to have numbers in hand and figure out what the long term plan is.  

MM(21) can do whatever he wants with any remaining funds.  But I think the most obvious and practical use of that money is buying a car.  (Which he may end up doing before he is done with college.)

Edited to add:  The grant money has arrived in my bank account.  Yay!  It's really really real.

Second edit:  MM(21) registered for classes and it looks like there is an extra $120 lab fee this quarter.  This will bring his college fund balance down to $19K.  Technically, the difference between his net tuition and the college tax credit (that we will cash flow re: lower taxes), the difference is currently $188.  I will pull this $188 from his college fund, but he's earning interest and will end the month with $19K+.

DL(19) Year 2 'Gifted College Fund': $29,000

I suppose that I should also update where DL(19) is at.  Not touching any college funds while he is just living at home.

I am eyeing $5K of this money to fund a 2024 ROTH (same as his brother; during his first big income year).  & have been eyeing roughly $5K of this money as a car fund.  This helped me to sleep at night while he relied on a 20yo car to get to school (before he could find a decent job).  But also, it's sensible that a car is *the* big college expense in his situation.  His biggest college expense is his commute.  

It looks like I paid DL's spring tuition last November.  So I will probably have his sophomore year literally done and paid for, this month.  I will check it off (in my sidebar) when it is official.  Though it would probably be fair to just check off that I know this school year is well covered.  It's just a formality that I can't pay MM(21)'s spring tuition until March.