<p>I have two children. One graduated in 2010, one is still in college. Our experience when DS finished his undergrad was interesting. Even though he had been living off campus for two years and on a very set budget we created. We put his room and board money in his account every month and that was what he had. he was responsible for paying his rent, cable, electric, heat, food, transportation,etc. Those were some good growing up years for him. Our conversations about the future started his senior year. We let him know he could come live at home to save for grad school but only if he had a job. His path was complicated, he ended up moving cross country back home, losing that first job, and moving cross country again three months later. He is financially independent although we help with Christmas tickets to come home, small food packages,etc. I have no idea of hi monthly expenses, salary,etc.<br>
I am providing all this background because I want to ebpncourage the OP to start now having a conversation about what happens after graduation. you mention grad school, will that be right after undergrad? How will grad school be financed? How much will you be able and willing to assist financially after undergrad?
We found that with ours and lots of his friends in today’s economy you want to have these conversations sooner rather than later. I could tell you some horror stories about 24 year olds with no job living on mom and dad waiting for that perfect job to drop from heaven while mom and dad are still working like dogs…Entitlement at it’s worst.
PS I have had employees who were making that 100k in their late twenties and still weren’t making it due to all their student loans.</p>