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[quote=Anonymous]We cover tuition, books, & fees, reasonable rent & utilities (no more than the lowest university housing prices), and a flat food allowance (based on the equivalent semester price set by the school for the dining halls - a decent cushion, I know) for each semester for our 21-year old son.  We still also loan him a car, cover auto insurance, auto maintenance & provide for any medical expenses including insurance. Son uses our paid streaming & cellular plans. Whenever he returns home for breaks, we don’t charge rent :) & pay for stocked fridge.  We gift some money at holidays and birthdays, if he chooses in place of some gifts.  Do not pay for clothing, gas, entertainment, toiletries, concerts / sporting events, beer, etc., or anything else, as he works summers to cover and budget for that.  Pretty good deal, and far better than the no-deal I had with my parents at that age.  But, the bumpers come off upon the 4th year of undergraduate studies (age 22). The agreement is if he graduates later, it’s all on him. If his GPA ever slipped and he lost the academic scholarship, the difference too would have been on him.  Afterwards, though since he is in no jeopardy of losing the scholarship now, and we have excess 529 dollars as a result, we will cover 2 years of grad school tuition, books & fees also, but nothing more, except healthcare until 26 (as that’s covered at no additional cost to us until that time).  We are very fortunate, he is very appreciative, and he learned how to budget and take responsibility for his educational success along the way.  Praying for a smooth launch in the year to come.[/quote]

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