What budget-allowance do you give your college kid?

[Anonymous]

What are they expected to pay for out of it?

[Anonymous]

$0. We pay for tuition, room & board, books. They pay for anything else. I think that’s more than fair.

[Anonymous]

Look at College Board's Beig Future webste -- Costs for Miscellaneous. It's pretty spot-on.

[Anonymous]

We pay everything, plus a credit card, plus a few hundred a month for spending

[Anonymous]

Anonymous wrote:We pay everything, plus a credit card, plus a few hundred a month for spending

Does your child contribute anything? My son works in the summers and uses the money he earns for books, personal toiletries, school supplies, laundry detergent, fun spending money. That's what I did when I was in college too. I almost dropped out at one point but thought "I'll be damned if I am going to throw away nearly $1000 in books and then have to pay back my student loan." I think it's important to have some skin in the game.

[Anonymous]

I think I received around $700/month ($350 every other week) for groceries and what not. Seemed generous at the time and seems generous now. I know in theory students work during the summer to earn and save money for the following school year, but I'm not sure whether anyone actually does that.

[Anonymous]

Anonymous wrote:$0. We pay for tuition, room & board, books. They pay for anything else. I think that’s more than fair.

Same

If you need spending money, get a part time job

[Anonymous]

Anonymous wrote:We pay everything, plus a credit card, plus a few hundred a month for spending

Lol that kid has it made.

Hope he appreciates it & values hard work.

[Anonymous]

We give her what the school charges for room and board to cover rent and groceries. It’s more than she spends on those two things, so it also covers books, toiletries and probably some of her fun money. She also works, but only 5-10 hours a week.

[Anonymous]

Anonymous wrote:$0. We pay for tuition, room & board, books. They pay for anything else. I think that’s more than fair.

This is basically what we pay. They are responsible for their pocket money.

[Anonymous]

My kids will not have to pay tuition, room and board, car or phone but if they need anymore money, that comes from them. I told them a few years ago I wanted them to have $5k in the bank when they started college but they will be on their own for anything but the above.

[Anonymous]

Anonymous wrote:

Anonymous wrote:We pay everything, plus a credit card, plus a few hundred a month for spending

Does your child contribute anything? My son works in the summers and uses the money he earns for books, personal toiletries, school supplies, laundry detergent, fun spending money. That's what I did when I was in college too. I almost dropped out at one point but thought "I'll be damned if I am going to throw away nearly $1000 in books and then have to pay back my student loan." I think it's important to have some skin in the game.

No. No contribution on DC behalf. DC works during summer but saves that money for extras. TBH, DC uses own money for quite a bit because wants to build independence (DCs words). Spouse and I both had our college and all expenses paid by parents, so it’s kinda of what we expect to do for our own.

[Anonymous]

Anonymous wrote:

Anonymous wrote:$0. We pay for tuition, room & board, books. They pay for anything else. I think that’s more than fair.

Same

If you need spending money, get a part time job

Ditto. They have summer jobs for spending money.

[Anonymous]

All schools publish a suggested student budget, along with a suggested budget for transportation, books, etc. For my student in Philly, it is $900 for the school year.

[Anonymous]

We pay for all college incidentals and sorority dues. Spending money is from summer jobs. I do feel for DD a bit because job she has done last two winter break is shut down for Covid. But that’s why you have to have rainy day fund...