It’s that time of year. Summer is coming to a close and that moment you have been waiting (or dreading) all season has arrived. Your baby is finally headed off to college. And while this new chapter in life is exciting for everyone, you might be asking yourself, “What is a reasonable allowance for a college student?”
Okay, maybe it’s not the first question you are asking yourself, but it’s a fair question that can run through parents’ minds. How will your child financially survive their first year of college? Will they have enough to enjoy the college experience?
The College Board reports tuition and fees for undergraduates attending an in-state, four-year college is a staggering $10,230 per year . And that’s not including room and board. Once you and your child get the cost of tuition taken care of, is there room for a college allowance?Read more