<p>The allowance thing is so personal, I think it depends on the kid, the college location, your pesonal finances, whatever you are comfortable with. We gave our son 4 years of spending money, book money up front. He is very responsible and interested in investing and money management. He recieved very generous graduation gifts and has worked the last three summers full time. He started with a pretty large bank balance. He has invested in some stocks, just what he is comfortable risking. His goal is to graduate with more money then he started with. We pay for transportation and he has a clothing allowance (small, very small). It’s been a few months and he has been extremely conservative, for him I knew a larger sum of money would create a miser, where $50-$60 a week would be more likely to be spent. I know the way his mind works. Since he was small every purchase made with his own money has been carefully considered. We would have to leave a store and think about it overnight before he could commit to spending. 90% of the time he would choose not to buy the toy, the pokeman cards whatever. So I didn’t think I was taking too big a risk! If he blows the cash he’ll need a loan or an on campus job. This is a kid who saved for a car since he was 12, on his 17th birthday he handed me 68 $100 bills for the down payment on his car. We make the payments during the school year, he pays during the summer. I write all this, because this was the thought process and background that helped us make this financial decision.</p>
<p>By the way DB, very happy that your son recieves his well deserved stipend! Tax money going to an excellent use.</p>