Stumped Old Geezer wrote:
In terms of college, we are definitely going to cover tuition, rent, and textbooks. After freshman year, we will probably have my daughter pay for her food and entertainment costs. We will see how that works and adjust accordingly when my son starts getting ready to leave. My daughter will be attending Tulane University and received a 5k per year leadership scholarship due to her involvement with student government in high school.
Why not pay tuition and books only after your daughter's first year? Pull every other type of support if you're truly worried that she's entitled. It's not expensive to live near a college campus. She can get a job and start learning some budgeting skills on her own. You're only delaying this essential skill for 4 years if you pay for everything but food and alcohol in college. In fact, you will effectively finance a partying lifestyle if you pay tuition and rent. She'll have plenty of time to study if she has a job. Do you honestly think she wouldn't have immaculate grades if she studied/went to class from 8-5 everyday?
Your son? Why not take away phones, cars, clothes, sporting equipment, etc. until he shapes up?