<p>NYU dorms would be flexible and relatively inexpensive for NYC. But still a few hundred dollars per week…
<a href=“NYU 2023 Summer Housing”>NYU 2023 Summer Housing;
<p>NYU dorms are not air conditioned. Miserable in the summer. I would suggest the 92nd street YMHA or dorms from a college that are air conditioned. </p>
<p>The 92nd street Y houses many young interns. I’m not sure if this is convenient for the OP’s kiddo.</p>
<p>I wouldn’t offer to subsidize, but if I were to be asked, I’d do it in a heartbeat. I view the whole college experience, including summers in between, as the opportunity to try different things and to learn before becoming independent. NYC is very expensive, and I can see how an internship might not cover the necessary expenses. Honestly, I’d probably just be thrilled if he got a PAID internship, lol. We can afford it, so I wouldn’t hesitate. I’d much prefer to assist with the resume building during college as opposed to after college . . .</p>
<p>Our attitude is that room and board are on our dime while the kids are in college. This is greatly influenced by the fact that we can afford it. So if my child asked for help during an internship (paid or unpaid), we’d help.</p>
<p>As for NYU dorms, I lived there in the summer 30 years ago and they were horrid. My nephew lived in the same dorm I stayed in a couple years ago and little had changed. Blech!</p>
<p>Hmm, I am going to be an oddball. Yes, 100% I would subsidize. In our family, we have a long history of making sure everyone has no housing costs. This ranges from my sister and I to my own child. This has continued for us through adulthood. We have been able to replenish the trust that pays for all housing costs because of the money saved and therefore offer this same deal to each subsequent generation. So not only would my daughter’s housing be paid for at an internship but also her first house, etc, etc. Not having to pay rent and/or a mortgage is quite liberating financially.</p>
<p>I would subsidize and I would let the child put his earnings in a retirement account. None of my kids are big spenders, so maybe that factors in. </p>
<p>I always encourage my kids to work for the experience. They shouldn’t be jealous that one sibling is getting to save money earned, because they each have the same opportunity. My decision would probably be more conservative if finances were tight. In that case, we would have to set parameters on what amount I could contribute based on affordability.</p>
<p>Is your child working near NYU? You might be able to get a Hoboken sublet from a Stevens student. They can walk to the PATH train. If they are working farther uptown the commute would be harder.</p>
<p>Yes we help with room and board. Our kids know the deal is 4 years of room and board on us and three years of tuition. Internship (paid or not) in another city we pay housing and food expense. We just felt this was the most consistent thing to do. DD2 will be in NYC for an internship in the winter and probably summer. She has arranged free housing for winter and we will give her money for food. Not sure what she has planned for summer but we may subsidize (pay roughly what it would cost for a dorm for a term) rather than pay outright. </p>
<p>My son, on the other hand wanted us to subsidize living in an apartment ten miles from home with no internship or employment. We passed.</p>
<p>“My son, on the other hand wanted us to subsidize living in an apartment ten miles from home with no internship or employment. We passed.”</p>
<p>Yeah I would pass on that, too.</p>
<p>@reddoor Three years of tuition? Is that to make sure they know the pain of paying tuition and don’t stick around for five years?</p>
<p>It’s so interesting to hear these arrangements. How did you and your spouse arrive at three years? </p>
<p>We really never talked about it. Just figured we’d pay for college. Whatever that entailed. No discussion. Interesting that so many ppl have so many ways of looking at it</p>
<p>If I could afford it, yes. I have paid for summer housing for educational programs and college courses so it’s not too different. That said, a substantial contribution to a Manhattan rental has not generally been something I could afford. So I have no theoretical objection to this but, in the end, I may have to say no-- it just depends how the finances work out. (My priority is affording the college expenses. If there’s money after that, I will support internships.) </p>
<p>One of my kids paid for New York housing for an internship but did it on his own dime. It was an unpaid internship and my kid used graduation money for it. I did give the kid some money erratically but the rent was on him.</p>
<p>The NYU dorms are not all that great an option. There are a ton of better sublet options through NYC colleges or otherwise. </p>
<p>In a similar situation we subsidized for both kids. Each kid got it, appreciated it, and is now self sufficient. It is such an individual family decision.</p>
<p>Just my take on this, which you are free to ignore! Also, all of this begins with the remark, "If you can afford it . . . "</p>
<p>Family with one child: The student has an internship which is sufficient to cover the cost of living for the summer. You cover the cost of living, and the student converts the money that would have been spent on rental + food + other necessary expenses into savings. Sure! Go ahead! If you can afford it . . . </p>
<p>Family with two children: Now it gets trickier. Your situation seems to be that Student H has the internship which pays well (and presumably Student H has fairly high expenses), while Student L does not. There are many different views of what would be “fair” here.</p>
<p>Suppose that Student L has an unpaid internship, and can commute from home. Then presumably Student L’s living expenses will be appreciably less than Student H’s. I could see an arrangement where you supplement Student H’s earnings, so that Student H can put money into savings, and at the same time, you give Student L an amount equal to the difference between Student H’s higher expenses and Student L’s lower expenses, and then Student L can put that amount into savings. The principle here would be: We will support your costs of living equally, while you are in college.</p>
<p>I wouldn’t apply this line of thinking during the academic year, though. If Student E went to an expensive college, which you were covering, while Student C went to a college that gave Student C a merit-based full ride scholarship, I personally would not give Student C the difference.</p>
<p>But for the summer: I could not see giving Student H money for summer costs so that H could accumulate savings, while simply covering the summer costs for Student L, living at home.</p>
<p>A somewhat trickier scenario: Student H has an internship that pays enough to cover the summer cost of living, in an expensive city. Student L has a summer research assistantship that pays enough to cover the summer cost of living in an air-condiitioned dorm on the campus where Student L is working. In this case–if I could afford it–I would give Students H and L equal amounts to put into savings.</p>
<p>Another tricky scenario: If Student L were studying abroad (with no earnings during that period, and no college scholarship/fellowship), and you were providing the same amount of funding to Students H and L, I could see an argument that such an arrangement is fair. </p>
<p>On the other hand, I might instead take the viewpoint that I wanted to “launch” the two as close to equally as possible, given their different choices. So in that case, I might give Student L enough additional money to wind up with an equal savings increment to Student H–even if Student L is studying abroad, and so the total money transfer to Student L is larger. In fact, this is what I <em>would</em> do, if I could afford it. It will not have escaped Student L that L’s major and career choice is less remunerative than Student H’s choice, even if you do this.</p>
<p>If I were to subsidize, I would pay for both of those kids’ room and board during the summer, then they could both do what they want with their earnings. If L makes less money then he/she would be able to save less. If H is a big spender then he/she could potentially save no money. But this way parents are doing the same thing for both kids without any judgement or control.</p>
<p>oldfort, #154: Even if there were a considerable difference in the quality of the students’ accommodations and food during the summer? For example, the student with the internship in an expensive city, living in a nice apartment, and the student with a research assistantship at a university, living in a dorm?</p>
<p>QM…fair is NOT always equal. If you had two kids and ONE needed braces, would you make the other kid get braces, or put the amount the braces cost in a bank account for the kid who didn’t need the braces? I sure hope not!</p>
<p>We paid for housing for our kids until they graduated from college. If they lived at home and it was “free”, they got NO extra money from us. We were giving them FREE subsidized housing! If they lived on campus, we paid. If they went to a summer program, we paid.</p>
<p>I will add, one kid cost us about $4500 plus every summer. The other was practically free. </p>
<p>We can afford to do this. We viewed it as part of college costs.</p>
<p>I will add, by the time DD got to college, costs at her private U were $15,000 more than when DS was a freshman in college. NO we didn’t give him a dime to make the $ contributions equal.</p>
<p>crowlady and poetgrl,</p>
<p>We arrived at three years of tuition because we wanted them to be responsible for some of their education and to appreciate it. I also thought it might motivate them to apply for scholarships. This was all discussed with them years before college. At the beginning of high school, I think. We did not limit where they could apply and they could attend any college they wanted. </p>
<p>So far two have graduated in 3.5 years and the third is on track to do the same. Essentially, the first two owe us about 23K and number 3 will owe significantly less. None of them feel it is an undue burden. Loans are interest free. </p>
<p>My husband and I put ourselves through school with a combination of financial aid, student loans and work. It was very hard and we felt very poor. Did not wish that on our kids but did want them to think a little about how much was given them. They do not really bring it up. They know people with more debt and plenty with none.</p>
<p>thumper1, I can see the consistency in your viewpoint. I agree that fair and equal are often two different things. I would not “reward” a child for the luck to have straight teeth, when a sibling did not.</p>
<p>However, I don’t see this situation as comparable to the braces/cost/savings situation.</p>
<p>Student H has higher earnings, but also has a higher cost of living. If Student L has a summer research assistantship, then Student L has lower earnings, but also a lower cost of living. Paying the cost-of-living for both, so that each can bank his/her earnings seems like a false equivalence to me–and also false fairness. (I can understand that others would see it differently.) </p>
<p>I see the higher cost of living for Student H as a cost associated with the choice of an internship in an expensive city. If I gave the cost of living to each of the two, and that’s different, it seems to me that I would be rewarding money in. That is, I would be rewarding simply the inflow of money and ignoring the higher cost of generating the higher inflow.</p>
<p>I sometimes find it useful to consider hypotheticals when I am trying to decide an issue of principle. (So feel free to ignore my hypothetical.)</p>
<p>Student H has a high-paying internship in an expensive city. Student L has a lower-paying research assistantship, but can obtain on-campus housing for the summer, and eat in the cafeteria or at pizza/hamburger/noodle restaurants. Student H feels a (legitimate) need to go to expensive restaurants part of the time, for networking purposes. At the end of the summer, Student L winds up with more money left over than Student H. What would you do in this situation?</p>
<p>QM - Why would there be difference in the quality of room/board. H who is doing internship at a high cost place (NYC) could very well live in a dorm. Why would H live in a nicer apartment than L? I doubt it that PG’s twins would eat differently just because they live in different cities. I think it is possible that L could end up with an internship in NYC or DC. In that case, why shouldn’t both of them have similar living accommodation while they are still on PG’s payroll?</p>
<p>QM - I am talking about basic room and board, not going to expensive restaurants.</p>