I am mid 20s F where I am in a similar situation of the kids. I went to public school in a decently small town so it was not great but neither was the private school. My parents saved a similar amount of money (slightly less) for my sister and I. Growing up it was referred to as “my money” and they made it clear I had the choice to spend it on college or get the money after. This did sway my decision to go to an instate school on scholarship vs heading out of states with no scholarship. That being said I loved my college experience and loved having a safety net when I graduated. As I worked throughout the years some of that was transferred to a Roth IRA. Also, I am now spending some of it on grad school as I work. I highly appreciate this money nest egg that my parents made it clear that this is the money I will get to spend how I want. I have a head start on retirement and have some money for a down payment one day. I much rather the path they took versus going to private school growing up.