entering the phase of life where my first is in college and second will be starting soon. My wife and I want to financially help them with school but also want them to be responsible, to be budget conscious, to have skin in the game.

My current idea: Say to each kid that "you have $___ in your 529 education account. Anything that you spend beyond that amount you will be responsible for 60% of the cost - either through student loans or working your way through school - and mom and I will pay the other 40%. So if you get a good scholarship, or go to an affordable in-state school that 529 money will go a lot further than if you go to an expensive out of state school but thats your decision and we can work through budgets and options"

If you have feedback on the idea above I'm definitely open, and if you have a method that you used with your kids (or a method your parents used with you) that worked well, I'd appreciate if you'd share.