Being a fellow grad student I can understand your concern with expenses parts can be a bit pricey but if you have a little time and a good manual like bentley you can do many things yourself. You do have some advantages:

1. your parents are the owners and will have a history of the cars repairs and quirks. I would guess you also have some experience with the car?

2. 90,000 mi. is darn good for being and 86.

3. If your parents are generous, I would assume it is free or lower than/at Blue Book price.

4. If your record is clean, insurance is inexpensive.

5. You can houl a lot of stuff in it. (just had to add that)

As far as winter driving is concerned, I think it just takes getting used to finessing your car through the snow. The standard tranny and weight of the wagon help out a lot.

I drive an 85 manual 245 w/242,000mi. in it and have had to do some work on it since I got it. Water pump, O2 sensor , Carrier bearing and a U-joint the only thing I had to have done at the shop was pressing the U-joint in. I've put 20,000 miles on it since July 00 and it hasn't left me stranded yet. Although I was asking for it a few times.

I hope this has been helpful and good luck with your decision!