Allowance for College Students

[Anonymous]

I graduated from college in 1991. My parents paid 100% of everything, and gave me an allowance that was quite generous (I think $200 a month, although that included food when I moved off campus). Despite this, I worked every summer, part time my sophomore year, very very part time my junior year while I was on study abroad (yes, it was illegal), and almost full time my senior year. I paid for 2 5 week long trips around Europe, a senior year Spring Break in Jamaica, and had enough left over that between that and what I earned while working during grad school, I was able to pay for about 90% of my 2 year graduate degree at a super expensive private school.

[Anonymous]

I graduated college in 2008 – My parents gave me an allowance of 400 a month to spend as I wished. They also paid my sorority bill (3K a semester that included a meal plan), tuition, books & housing.

I didn’t have time for a job in the summer as I studied aboard.

[Anonymous]

to 11:41 if you are for real, you sound like a an entitled mess. hope you get a job and become part of the real world.

[Anonymous]

Anonymous wrote:DD lives off campus this year. We pay tuition, rent and books. She has a job and pays for all other expenses, including food. Last year we gave her $250/month.

That's funny. When I was in college, my parents paid tuition, rent and food. I had to pay for all other expenses including books. And to pay for tuition, my dad opened a joint checking account with his and my name on it. He would deposit the tuition money the week before registration and I would pay the tuition. They wanted me to understand how much they were spending on my education so that I would have a better understanding of the consequences. I think it helped me be more responsible in school. That's also how they would get my monthly money to me. Dad would deposit money, tell me how much and I would write a check from the joint account to my personal account.

I had an allowance through junior high. I had jobs in high school and college. We'll probably do the same with our kids.

[Anonymous]

My parents paid tuition,room and board (one package) and plane tickets home for Xmas. I had a job to pay for books, toiletries, trips out for ice cream etc.

I guess I find it hard to believe that there are no jobs available, since every university I've ever encountered was a labor-scarce economy. There was always a shortage of people to work in the dining halls, man the towel depository at the gym, etc. However, I know that my student job (file clerk in the book buying department for the law school library) has probably been replaced by a computer filing electronic invoices. I'll bet many of those copy center jobs have disappeared too. I'm going to ask some of my professor friends, since this is a new way in which college costs may be less attainable for the middle class.

[Anonymous]

11:41 here. I live in the real world thanks. I realize how lucky am I to have had parents who were able to provide such a great undergrad experience. I put myself through grad school at georgetown while working on the hill.

[Anonymous]

Anonymous wrote:11:41 here. I live in the real world thanks. I realize how lucky am I to have had parents who were able to provide such a great undergrad experience. I put myself through grad school at georgetown while working on the hill.

Don't let the turkeys get you down. It sounds like you turned out great!

[Anonymous]

You have to know your kid. If you have the money, and you want to give them an allowance, then go for it. If you have taught your child to be financially responsible before going off to college, then he will handle the money responsibly.

My parents paid for my college 100% and they gave me an ATM card to use for extras. As far as I know it was "unlimited." I didn't go crazy because I was not that type of kid. I was always a good student and not a partier or crazy spender. And I wasn't spoiled, although I realize I was very fortunate. I did work every summer and winter term, but my job while I was in school was to learn and get good grades. The day I graduated I was on my own financially.

I know not every family can do this, but if you can, it's not necessarily bad to do so, as long as your child can hanlde it. Having said that, I don't know what an appropriate amount is. Why not start off with a weekly or monthly sum and see how it goes and then adjust it from there?

[Anonymous]

When I went to College tuition was fully paid, I got 1800 a month to spend on rent, food and gas. This was the norm and even on the low side compared to others.

[Anonymous]

Anonymous wrote:1k a month

+1

And this does not include housing costs. This isn't much in a lot of towns for all the going out that college kids do. Plus, college kids don't cook much or at all, so they eat out a lot and it's expensive.

[Anonymous]

Anonymous wrote:When I went to College tuition was fully paid, I got 1800 a month to spend on rent, food and gas. This was the norm and even on the low side compared to others.

To add I lived in dc so rent was higher and parents didn't want me living outside of north west for safety reasons.

[Anonymous]

Anonymous wrote:

Anonymous wrote:1k a month

+1

And this does not include housing costs. This isn't much in a lot of towns for all the going out that college kids do. Plus, college kids don't cook much or at all, so they eat out a lot and it's expensive.

I learned how to cook in college because eating out is expensive and I didn't have the funds to eat out all the time. Valuable skill to learn, cooking.

[Anonymous]

Anonymous wrote:

Anonymous wrote:11:41 here. I live in the real world thanks. I realize how lucky am I to have had parents who were able to provide such a great undergrad experience. I put myself through grad school at georgetown while working on the hill.

Don't let the turkeys get you down. It sounds like you turned out great!

I agree. Gratitude is the key.

[Anonymous]

Anonymous wrote:

Anonymous wrote:1k a month

+1

And this does not include housing costs. This isn't much in a lot of towns for all the going out that college kids do. Plus, college kids don't cook much or at all, so they eat out a lot and it's expensive.

That's why god invented Hot Pockets and microwaves.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We have 2 in college and we pay tutition, room and board - although 50% of their tuition is covevered by scholarships. They each get $50 a week from us, plus I believe that the grandparents kick in "off the books." They just do not tell us.

While I agree generally about teaching responsibilites, you have to know your kid. We give DD's money because they both will work like mules if we allowed them to. These are both kids who have held jobs since they were 15 and DD1 worked two jobs this past summer. The first two years, wanted them to focus on academics and college life and not worry about trying to make money.

Since when was hard work something to be minimized?

PP you are quoting. Not minimizing hard work at all. But if I am sending them to college and paying a big part of the freight, I want that hard work focused in the books - not at some part time job at Quiznos. That is what the summer is for. Once we get to junior year and there is a good track record with grades, then we would allow it. As a freshman, no way! I have seen too many first year kids struggle with academics trying to juggle an off campus job.

Full disclsoure: I worked a full time job my last two years of college and I would not want that for my kids.

I have put 2 kids through college as well, and from the beginning of high school we made it very clear: They could go to college if they wanted (both me and DH did), but we were not going to push them or help them do that. We did help them pay, with the cost of college right now and when we did it wouldn't be reasonable to make them pay all on their own, but only for half of the college cost. If they wanted to go to college, it was mostly their responsibility to get there and do the work. We could afford to pay their way through college, but we knew that they needed to take up the responsibility to go out there and manage for them self, not go batshit insane, drink, party, and drug every night. Because they were paying for their own food, housing, and part of their education they respected it, and payed more attention to it.

During their freshman year, we helped out a bit more, by paying for part of their housing and for their college meal plan, but once we fealt that they had settled in, we stopped doing this. They came out of college as very attractive to those hiring due to the fact that they had experience over all four years of college, had a great work ethic, and could go into an interview room without a nice little speech written my Mommy and Daddy talking about how amazing their son/daughter was.

Did my son and daughter never have rough patches? Of course not, it was a lot of work, and they slipped up once and a while, my DS at one point ended up without enough money to pay for housing for one year. What did he do? He came back home and worked his ass off for a year, taking a break from university. On the other hand, they almost always had respectable grades, gained friends, both from their university and from their work/the community, and are now either employed or paying their own way through graduate studies.

Why is it better to pay for a child's college education? Too often you see kids who are just not prepared for college go off on a full ride from their parents to college. They get money thrown at them left and right.

The PP here. I understand where you are coming from - as I said, my folks made me work full time my last 2 years (NOT my first year on campus). I also said that you have to know your kids. My kids are not partiers and have ALWAYS showed a lot of responsibility and taken their education seriously. And they both worked during high school and summers during college. I do not throw money at them and they understand that grades are paramount. If they do not get the grades, then we will not be paying anymore. My kids would never accuse me of being soft and they both want to work. At the same time, I do not want to put obstacles in the way of their success their first year. This was their first year away from home and totally on their own. As their parents, we determined what they could handle this year and decided accordingly. As they demonstrate that they can handle the load, then we will look at other things. I look at it this way. I am not "paying" for these kids to go to college. I am investing in their education and their futures and I want a maximum return on my investment. Sorry, I just do not believe in sending a kid of to college on my dime and saying "figure it out" from day one. Day 500 - maybe.

Please don't send them to intern for me!