They don’t use they would get as a graduation present. This gave them a great incentive to work or do well enough in school to qualify for scholarships which they all did without being pushed.

The accounts were totally funded in their teens and continued to grow while they served missions and while they attended college. They could tap into it for whatever they needed without my permission.

All kids are now graduated and married. The oldest had $35k left after graduating from USU. Next oldest used less than $5k. He had a BYU scholarship and got a scholarship for being Cosmo and worked some internships as well. He graduated with over $60k still in his account. Was able to buy his first home within a year of getting married. He also continued to contribute to the fund after starting work. His fund “retirement” fund is now over $100k and growing.

Youngest kid used a little more but graduated with over $50k which allowed her to also get a home within a month of getting married.

By putting the incentive to work, study hard and be frugal I feel like it not only allowed them to attend college but learn valuable life/financial lessons. They all did amazing and made wize choices and all I did was pay for college.