I'm thinking of using money we "earmarked" for our 6 month old's college fund to buy back the exact 1972 Ford Bronco I owned as a teenager
Why do you need to use your babies college fund to buy your dream truck?
I found a Ford Bronco in mint condition, and I am planning to get a new spare tire for it and update the fluids and oils and everything.
I understand how this sentimental thing can make you choose to spend your baby's college fund, but I don't think it's fair for you to do that as your baby may depend on that money when they grow up. Why not just save up for that car instead of spending the fund?
I have ended up doing some unfortunate things and I am broke right now so I need the cash for the truck.
An old Ford Bronco is not something that is essential to your life since you have a car already. Taking your kid's college money to pay for it is irresponsible and will set your kid back in life when he can't attend college.