Spend your money on memories. Why do parents and grandparents save and scrimp to pay for someone's college education while depriving yourself of joyful memories. There are so many ways kids can be in college, for one, they can work, there are scholarships, work study programs, and yes, student loans. I went through college on Pell grants and loans, but I would not be where I am without them. Don't give handouts.
I'm spending on myself and have great memories, that's a good feeling.