<p>My daughter gets nothing from us. Back in June, after she graduated from high school, we made it clear that she would be responsible for purchasing books and supplies from her resources, as well as any “fun” money she would want to eat out or go to the movies, etc. with friends at school. We told her (and she clearly understands) how much out of our pockets is paying for her tuition, room and board…and that since we are providing a roof over her head and food for her to eat that any extras have to be on her dime.</p>
<p>It has been a good experience for her. We sat down with her prior to leaving and laid out a budget for her savings, estimating what she’d need for books and supplies for each quarter and coming up with a figure for her “fun money” for the week. We told her to keep track of her spending during the first quarter and we’d review it with her when she got home.</p>
<p>She became very conscious of how much things cost, and became a good ‘bargain’ shopper. She made her first-quarter budget money go far, and upon returning home for break went out and got herself a temporary holiday job to replenish her savings. At first, I told her that was great as she’d now have extra money to hang out with friends while home. “No mom…all my pay is going BACK into the bank to cover second quarter books!” She discovered she hated seeing her bank balance go DOWN.</p>
<p>Since she’s come home, she hasn’t asked for one dime. Every penny she spends is her own, and she’s feeling pretty proud of that.</p>
<p>We realized that if daughter went to summer session(s) we’d save many more thousands than she’d ever earn…at her college summer tuition is half the price of regular semester. We give her $400 month for food and and spending (she has no meal plan). By graduating in 7 semesters instead of 8: we’ll save $15,000. She actually does better in the summer sessions, less time to procrastinate. There’s a sister on her heels so I say “move 'em out” as quickly as possible.</p>
<p>My freshman son doesn’t have an allowance (never has) but he does has a credit card and uses it responsibly. He spent $550 in his first quarter at college, mostly on food for his apartment (he’s also on the meal plan), laundry, club membership fees, and 2 round-trip bus tickets to come home for Thanksgiving and Christmas. I think the next 2 quarters will be a little less (only 1 trip home per quarter, no club fees). The school’s published yearly expenses include a fair amount of this cash outlay under the categories of “transportation” and “student misc expenses”, so it’s been in the budget all along. I think my son will actually come in under the COA for the year, so I’m not concerned. </p>
<p>He had a summer job and uses his savings to pay for entertainment, furnishings for his apartment, and gifts.</p>
<p>My younger son will be heading off to college next year. He also has a credit card and has proven himself a little less careful with it this year than I would like, so if that keeps up he’ll be limited to a maximum amount every semester.</p>
<p>$125 per month. My daughter also has a small job on campus that provides a similar amount. But I don’t send it monthly. She gets one check for everything – her off-campus rent, food, books, and spending money – each semester. She can deal with that.</p>
<p>My kids are employed by their school to tutor other students. They work about 8 hours a week 2 afternoons a week (no nights or weekends). As long as a part-time job is just for a few hours a week, students still have plenty of time for ECs, clubs, socializing, and studying.</p>
<p>Tutoring other kids is GOOD for THEM. It keeps math and science concepts fresh in their brains, which helps them in their own classes. They tutor math, bio, chem, & Spanish. DS1 hasn’t taken a chem class or Spanish class recently, but by tutoring Chemistry and Spanish, it’s all still fresh to him. </p>
<p>I think being employed by the university during their college years as tutors will be nice addition to their resumes when they apply to grad school and med school.</p>