To obtain accurate results in staining use recommended reagents. Substituting reagents generally, because of the cost is not proper. You are looking for accurate results that can stand the test of time. If it is not 95% ethanol it is not the required reagent for Gram staining.
Go beyond the cost. This goes for all other reagents and microbiological media.
The problem is not the cost. The addition of methanol allows for my lab to buy it without the need to apply for a licence. In UK you need to apply for HMRC if you want to buy 95% ethanol... if it is methilated you can get a permit.
I am in a small college as well and did not want to get an alcohol licence as well. We used 95% ethanol, usual with methanol, and did not have any problem. Many mix acetone with ethanol and that decolorizes rapidly, but for students you get better results with a slower process or sometimes everything loses it's color as the acetone decolorizes too much. I also do not like acetone as it is a carcinogen that should not be inhaled, therefore you should do it inside a chemical hood. Not a good situation for teaching microbiology.