Personally, I think that it is wrong to set your kid up for the expectation that if they get accepted to their ED school, they can go and then have parents pull out because of money when this situation can be avoided.
There may be a big difference between what you feel that you “want” to pay and what the school feels that you “can” pay based on your income and assets.
If you are running the net price calculator, you will know whether or not Pomona’s numbers are going to align with what is comparable to what you want to pay for UC. Remember if you have a complicated financial situation (business owners, divorced parents/blended families, real estate outside of your primary home , then the calculator may not be accurate for you.
There is an expectation that you have done your financial due diligence when applying for ED. Unfortunately, based on the number of threads from parents and students on how to get out, this piece may be lacking. My advice is run the numbers and have a talk with your kid about how much, bottom line you are willing to pay/borrow for Pomona or any other school. Look at paying for college over the course of 4 years
You mention S1. How much of an overlap will there be for your 2 kids. Plan for the increase in price once S1 graduates, especially from you don’t have any more kids overlapping with S2. Factor in a 3-5% increase each year in costs. Run the numbers with 2 in college and run the numbers with one in college. When you run the numbers, If you are not committed to spending the money over the course of 4 years, and you have no real grounds for a financial appeal outside of you don’t want to spend that much money, tell your kid now and avoid disappointment and heartache later.