<p>I understand about the Carolina card and how it is used both for dining and other on campus expenses.
Do freshman need a bank account/ATM as well?
I know Bank of America has a free checking account for students, but I can't decide how much, if any, my S will need on a weekly basis for things that his Carolina card won't cover.
Any suggestions?</p>
<p>We have opened B of A accts for both kids. They also offer a credit card for the kids and we have worked with both kids to show them how to build credit sensibly.</p>
<p>They are going to have the need for cash for miscellaneous things as well as eating out off campus not to mention cab rides to the airport for travel. They might buy a used book from a friend or online and need the capability to transact such purchases.</p>
<p>Most people I know have given their kids a monthly "allowance" of anywhere between $150 to 300 per month for miscellaneous expenses. We do a once a month deposit, are on both kids' accounts so the statement comes to the house and have set up online banking where both we and the kids have access. It has worked out well. If you open a savings acct as well, B of A will link the two and give overdraft protection.</p>
<p>Perfect. You have confirmed what I thought we would do.</p>
<p>This forum is the best thing around for anxious parents.</p>
<p>My son refuses to discuss any of this. He just assumes everything
will be fine. And it will. But I don't want to be rushing to do all
of this on August 1.</p>
<p>S has BofA as well,as its the closest ATM's and full service banks to the campus. We didnt link, and gave S a semesters deposit..actually some of the money was his earnings,scholarship,etc . He ran into a problem as he wasnt 18 until Nov so BofA wouldnt give him a credit card with the account until then.He does have checking and debit with them and added a student credit card when he turned 18. Hes also linked on our American Express for DIRE emergencies..ie plane ticket,ER,etc where he might need an unlimited credit line.
We did a $500 deposit into Carolina Cash (no dining dollars ) and a 10 meal food plan.Some weeks he went over the on campus meals, some weeks he was under.the 14 would have been too many for him.He finished the semester with 2.30 left on Carolina Cash,but he didnt use it for books,we did that out of the BofA account.
One nice feature was that once S's Ap credits were added (prob about mid Sept) they gave him $100 bonus bucks on the food plan for having soph status and having a 10 meal plan.Come to think of it,he did use up those 100's each semester as well.He used the Carolina Cash for coffee,and in food venues that dont take the food plan (like the new one,cant remember its name..Colloqium? but they now take the plan.) One thing to remember..and I know its so confusing and the dining website is so bad...the food plan gives a set amount for each meal.If the student takes more food,or a choice thats above that set amount,they need to cover the difference with other monies.There is an all you caneat venue I think at Bates.
Since S will have an apt style dorm next year he will start out w/o a food plan and only Carolina Cash and we'll see how that works.</p>
<p>cancob
forgot to add and Im sure you are thinking about it since you seem to be on top of everything LOL
the laundry machines are linked to Carolina Cash so no quarters needed.1.00 a load wash,75 per dry.S did laundry about every 3 weeks when there wasnt anything left to wear.
During the summer prior to freshman year I took S to a commercial laundromat and taught him how to use that type of machine.</p>
<p>Speaking of laundry machines...When we went on the Capstone tour, the USC student who was showing us around told us the machines just use 2 tablespoons of detergent! I was amazed!</p>