For full-pay families: how much do you ask your DC to pay for?

[Anonymous]

We're financially equipped to pay for all expenses but want our kid to have a little skin in the game for college, like allocating some portion of her summer earnings to contribute to college expenses. Anyone have an approach they like? Set a lump sum amount? DC pays for books or monthly allowance at college out of summer earnings? She is also planning to get an on-campus job at school. TIA

[Anonymous]

none

[Anonymous]

No job during school year. Work summers.

[Anonymous]

Those are all great ideas. Ours is super conscious already that we’e paying it all, so not sure how we’re going to approach it. He’s applying to local scholarships and doing his part to contribute some. I don’t think he should work freshman year but possibly beginning next summer or second year.

[Anonymous]

$0 as long as making good choices and progressing toward graduation.

Kid asked for an extra semester to be able to do a study abroad that did not help towards his degree. We told him if he wanted to do that that was on him.

[Anonymous]

Our kid pays for her own fun/social life. Her college job would cover this, but she also has an on campus job during the semester.

[Anonymous]

Anonymous wrote:Our kid pays for her own fun/social life. Her college job would cover this, but she also has an on campus job during the semester.

Above should say her summer job should cover this...

[Anonymous]

Ours got a full merit tuition ride at a private T20. DC applied to lots of external merit aid scholarships and worked on campus (for min wage) to lessen the burden for room and board. It has been an uphill battle, but this coming academic year for the first time DC will be able to fully fund COA on their own, thanks to a relatively well paying summer job. After that unlikely they will be able to continue fully fund COA; academic load gets harder and need to maintain GPA for the merit aid.

[Anonymous]

The extras were on my kids, from fraternity dues to spring break trips. I expected full time work during the summer even if they had to cobble 2 jobs to make that happen.

[Anonymous]

No. We pay for college and give her $75 a month for other things. She got a little 7 hour a week job to have a little more fun money. She worked a good paying job one summer and an unpaid internship the next.

[Anonymous]

We pay tuition, room and board, and books. They pay for pizza and beer money

[Anonymous]

There's no approach really. It was about time he looked through indeed, applied, learned to interview, and see what it took to get a job.
Already applied to another job. He is good at what he does, but the company needs him at that low wage position, because they have nobody else.
The life experience he has got is better than any class he has taken. The drama at work and the 'damn too corporate'... Very interesting to hear when he gets home.
He makes at least $500 a week. Most of it is just piling up, because he is not a spender. Other than Roth IRA and an investment account, I don't tell him what to do with his money. His Roth already grew 10%. If that's not a good reason for him to work, what is.
He got a tax refund too.
He and his comrades have checked out so many possible places to apply. They go as customer first. He like working more than school I'm afraid. The social aspect is better at work.

[Anonymous]

We will cover college cost fully, including travel to/from home. DS will cover his fun expenses.

[Anonymous]

Zero. But my kids have always had summer jobs. And during high school mowed neighbors’ lawns. I’m not worried about their work ethic or drive. They know the value if $. My oldest has so much going on at college—clubs, club sport, extra research with profs, and lots of studying- there would be little time.

[Anonymous]

We cover all costs and give spending money. That is what my parents did for me and what my grandparents did for them. However, my husband emancipated himself from his single parent at 17, took out loans for 100% the cost of college and law school in loans. He was still paying loans in his early 30s. Currently a partner at Biglaw. He would never want to saddle his kids with any debt. I think the approach varies by family, OP, based on your personal experience.