<p>Just curious -- I'm interested in seeing how other families stack up with mine. :)</p>
<p>My kiddos are responsible for ALL spending money (including recreation, extra food, books and supplies). The kiddos have to pay for their own cell phones also.We are also asking that they take the Stafford Loans which will be about $15000 debt after the four years.</p>
<p>my daughter has taken out subsidized stafford and perkins loans for 4 years ( about $15,000)
she pays about $8,000 to $10,000 from summer earnings ( 4 years total)
she also earns money for books/travelexpenses/medical expenses from her school year job.
I do pay for the cell phone which is new item this year</p>
<p>Mine pays for phone, books, clothing, all plane flights except for one a year back and forth, and all "incidentals". But because of scholarship aid, she will likely graduate from college debt-free. We strongly backed her desire to continue her volunteer work in India this summer (with a few side trips), and she raised all the money for it herself, some from the college itself.</p>
<p>I have to say, however, that in our family, we think of it as "all one pot". She IS working - by studying hard, and by becoming the person she is meant to be. She is working, and so are we - it just so happens that our pay-rate is higher (though my wife is a full-time student as well.)</p>
<p>When my great grandfather paid for my grandfather's and grandmother's college degrees, he asked that they in turn pay from their children's college degrees. We are now multiple generations down, and we are paying for our children's degrees. I hope that they will be able to keep that promise to their own children when it comes time for it.</p>
<p>so does Smith give aid to cover room and board or is that something you cover Mini?
I am finding that room and board is much higher than it was 4-5 years ago, and she is even getting the very smallest board package that is only available for those living in apts. She is actually paying more to share a two bedroom apt than what our entire rent was in a view apartment on Lake Washington 20 years ago ( ok 25)</p>
<p>dmd77,
I find that a beautiful tradition, one that was also given to me, too (because of my industrious academic work), & which I hope my own children will pass on generously. And you're right, mini: school IS work. What the "H" is it, if it isn't work? (Just "play"? I don't think so.) My personal feeling is that if/when a child works as hard as many of these do today (i.e., to their own capacity --without comparisons to the abilities of others), that parents who are able should contribute to the max, where possible. Now, of course, some students <em>prefer</em> the independence of earning their own $$ & answering to no one in that respect, & that's fine, too. </p>
<p>My own D's financial aid package requires summer & term wages as part of the tuition+housing+expenses grant. The hours they are requiring are modest, i.m.o. Good experience for her without exhaustion or undue stress, & the beginning of an employment record & a credit record. Thus, since she will have little or no "disposable" money, I will supply what I can in that dep't -- for minimal recreation, local trips, etc.</p>
<p>"so does Smith give aid to cover room and board or is that something you cover Mini?"</p>
<p>They total up the total costs (including room, board, and fees), then figure out the package - for us, yes, it covers what could be viewed as some of the room and board, as well as the entire tuition, though it isn't broken out quite that way.</p>
<p>We are aligned with Thumper. Evan pays for all his books, supplies, entertainment, food not "on board."</p>
<p>We also feel that S is "working" by being a good studnet. Being a student is his job. He has also contributed mightily by earning a substantial merit scholarship and it is his job to maintain the GPA to keep it.</p>
<p>Still, we require that he work summers for spending money. Or, if he chooses, work summers contributing back to the community (whether local or global) in which case we would pick up his spending money needs. This latter is more my idea than H; he is not fully on board with it, but so far it is moot, as S has 2 1/2 paying summer jobs. To us, this is part of character development.</p>
<p>Kids are expected to contribute 2k/year minimum plus work study for spending money. Summer and holiday jobs take care of it. We have always required them to contribut to big expenses. They covered 1/2 of sleep over camps, 1/2 of car etc. If nothing else it makes them evaluate if they are getting their money's worth.</p>
<p>I live at home and commute to college, but I pay for everthing else (tuition, spending money, books etc) myself. And I'm going to be a super-senior.</p>
<p>My parents pay for my tuition and other college expenses. They also pay for full car expenses, and they let me live with them. I in turn work at least two jobs in order to pay for my misc. expenses, and I am building up my own savings account. I make about $600 gross each week, and I am working on a business deal involving some green frog tadpoles for a fisheries operation that could bring thousands of dollars in for me, which will help me transition to being out on my own, with my own apartment and other stuff. My parents fully approve of this, and say that I am so much more useful than some of their other employees, because I think. It makes them think college for me was worth it.</p>
<p>Feel free to inquire with questions.</p>
<p>Oh, and by the way, I also paid half of last semester's tuition through a scholarship, and through a big engineering scholarship, I was able to pay for two years tuition and books.</p>
<p>D is taking out Stafford Loans for all 4 yrs as well. It was our way of making her accountable for her education. D is working full-time this summer to cover all her extra expenses next yr. Her one and only major expense has been an iPod...something that we refused to purchase for the kids. That came out of her own pocket.</p>
<p>Agree with DMD...our parents paid for our college education...and, at the end of 4 yrs, we'll probably pay up the loan...play it forward.</p>
<p>Stafford loans only. His education is our gift to him.</p>
<p>We pay tuition, room and board above any merit aid, student loans, etc. Kids are required to provide their own spending $$ through summer jobs and working during school - say 8-10 hrs. per week - very manageable. We pay car insurance and big repairs - they pay for gas and oil changes. They pay for cell phones. Each should graduate with about $12,000 in debt.....Mom and Dad, on the other hand.......!</p>
<p>We pay tuition, room, board and fees; DS is responsible for the rest. At this point he has some money in the bank and a well paying summer job. If he comes up short, he can borrow a little.</p>
<p>We don't divide the costs, fees, and travel expenses into us and him. We together manage the total costs towards the best tax and benefit advantage for all of us. This is all managed through joint accounts.</p>
<p>We cover tuition, room, board, and fees. They cover(ed) expenses and books. We do not ask them to go to merit aid schools or take out loans. That is our gift to them ,and we feel fortunate we are able to do so, plus, we are used to living extremely frugally, so there's nothing else we would rather be spending the money on.</p>