The money belongs to the parents. I have such a fund for both of my children. If they attend college it will be STEM only.
In the event they choose a different path, they will get the money, when they inherit it.
What if they want to go to a trade school? Knowing a trade is like a license to print money all over the country.
“If they attend college it will be STEM only.”
Bingo. We paid for an Architect and an Engineer. They married a computer developer and an Engineer, and are all doing very nicely... Not to mention our six grandchildren!...