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College Funds - March Update

April 9th, 2026 at 01:55 pm

MM(22) Feb 2026 'Gifted College Fund': $2,600 (+$5K ROTH)

MM(22) Mar 2026 'Gifted College Fund': $1,347 (+$5K ROTH)

Rent is paid through 4/30.

There are ample funds to pay May rent.  & I am feeling pretty *shrugs* about June rent.  I've accumulated ~$500 interest in DL's 'college rent fund' (that he currently has no plans to use).  So I will put the $500 and remaining funds to MM(20)'s June rent.  I think his returned deposit will cover July.  Or maybe a gift from MIL (she mentioned recently she will do one more annual $1K college gift for MM).  <---Not sure if she will give it to him or me, but I will probably insist it goes to his rent.  I've let him use for college spending money the last few years but that's no longer a thing.  By the time he gets that gift, he will be done with college. 

& then updating this post, was a reminder that I will owe him a year of utilities.  (He has yet to give me numbers.)

I don't know how MIL is going to play it.  The gift was $1K every year, from birth until 23rd birthday (in MM's case).  I presume she will keep giving the kids gift money every year but will just stop calling it 'college' money and will give directly to them.

Whatever is left, I will probably pull from the DL(20) rent fund.  I might just lower that from $15K to $12K.  I can offer $12K (or a full year of rent) for his teaching credential year.  If he changes his mind about moving out.  This is just money I have loosely earmarked for college expenses.  It does not belong to the kids.  ($12K would buy him a single room in a 2-bedroom apartment.  So, basically a mansion.  That's just my Bay Area frame of reference.  Massive, and it cost pennies.)

I'd have to look up MM(22)'s last day of school.  But it must be roughly 2 months away.  🤯

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I did pay a graduation fee to DL(20)'s college.  It was minimal and will be offset by interest.  (I just pulled from his gifted college fund).  Not enough to bother looking up numbers and doing a full update.

Posted in Just Thinking, College | 3 Comments »

3 Responses to “College Funds - March Update”

  1. mumof2 Says:
    April 11th, 2026 at 02:03 am 1775872987
    1775872987

    Our system is so different from your most kids dont go away to college most stay at home, they can do hecs loans to pay for college (UNI as we call it) you can pay as you go but you dont need to pay anything. The govt will pay the college up front and then you get a hecs debt which is managed by the ATO (IRS), you dont need to pay it back until you start earning minimum $67k a year, it is interest free although is indexed once a year in june which is based on inflation, you can make voluntary payments at anytime, your boss once you are working will hold extra money to pay off your hecs debt...there are limits on how much you can borrow depending on what you are studying
    I technically didnt have to pay mine back because I can't work and I could die and it would just be wiped it wouldnt come from my estate or anything...but I couldnt live with that and paid it off because I hate debt..but I do like our system better

  2. Dido Says:
    April 11th, 2026 at 05:06 pm 1775927207
    1775927207

    Graduation fee! Exciting that you are getting so close to the end of this phase--the light at the end of the tunnel is visible!

  3. rob62521 Says:
    April 15th, 2026 at 09:36 pm 1776288988
    1776288988

    Yay on being near the end so graduation is in sight, but it just gets me on all the fees. I remember when I was attending grad school, one class a semester except during the summer, and I had to pay an athletic fee. Seriously? I was there one night a week for a few hours for a master's in educational administration. I was not hanging out in the gym. But they charged the fee anyway.

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