College graduation gift amount

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focusedonwhatmatters
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College graduation gift amount

Post by focusedonwhatmatters » Wed Nov 07, 2018 6:07 pm

What is a typical cash gift for your child's BS?

Thanks in advance!
Last edited by focusedonwhatmatters on Wed Nov 07, 2018 6:55 pm, edited 1 time in total.

FireProof
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Re: College graduation gift amount

Post by FireProof » Wed Nov 07, 2018 6:10 pm

I'm sure the mode and median is 0.

stoptothink
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Re: College graduation gift amount

Post by stoptothink » Wed Nov 07, 2018 6:13 pm

Sounds like the gift has already been provided...and then some. I don't think a gift is common or generally expected for a college graduation (I never received any form of gift for completing my BS, MS, or PhD), so give whatever you feel comfortable with.

Gronnie
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Re: College graduation gift amount

Post by Gronnie » Wed Nov 07, 2018 6:20 pm

I received a big hug, and that was more than enough for me.

Dyloot
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Re: College graduation gift amount

Post by Dyloot » Wed Nov 07, 2018 6:36 pm

I’m not sure this forum is the best place to ask about gifts to children (or anyone else). :)

What’s next for your child? Will they need something expensive for the next stage of their life?

shell921
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Re: College graduation gift amount

Post by shell921 » Wed Nov 07, 2018 7:00 pm

I gave my best friend's son a gift of $200 for his college grad gift. This was 20 years ago.

MotoTrojan
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Re: College graduation gift amount

Post by MotoTrojan » Wed Nov 07, 2018 7:04 pm

focusedonwhatmatters wrote:
Wed Nov 07, 2018 6:07 pm
What is a typical cash gift for your child's BS?

Thanks in advance!
I agree if you paid for college or supported that a cash gift may not make that much sense. Maybe a trip or other experience to help them kick off their independence. If you were well-to-do and wanted to support them in general, an investment to help them save for their first home may be appropriate (maybe a 5 year CD).

stoptothink
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Re: College graduation gift amount

Post by stoptothink » Wed Nov 07, 2018 7:50 pm

Dyloot wrote:
Wed Nov 07, 2018 6:36 pm
I’m not sure this forum is the best place to ask about gifts to children (or anyone else). :)
Actually, I totally disagree. In general, the threads on this forum about gift-giving absolutely blow me away; as in the posters on this board tend to be far more "charitable" when it comes to gifting for weddings, graduations, birthdays, etc. than anything I have ever personally seen in real life.

remomnyc
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Re: College graduation gift amount

Post by remomnyc » Wed Nov 07, 2018 8:28 pm

I give $100 to $200 to other people's children for graduation. I plan to pay for my children's education. Once they get a job, I will probably help them with a security deposit on an apartment or a downpayment on a car, but I doubt they will get a gift for graduating other than the gift of being debt free.

Dyloot
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Re: College graduation gift amount

Post by Dyloot » Wed Nov 07, 2018 8:37 pm

stoptothink wrote:
Wed Nov 07, 2018 7:50 pm
Dyloot wrote:
Wed Nov 07, 2018 6:36 pm
I’m not sure this forum is the best place to ask about gifts to children (or anyone else). :)
Actually, I totally disagree. In general, the threads on this forum about gift-giving absolutely blow me away; as in the posters on this board tend to be far more "charitable" when it comes to gifting for weddings, graduations, birthdays, etc. than anything I have ever personally seen in real life.
Some are. Many are not. For example, the first three replies on this thread. :)

fourwaystreet
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Re: College graduation gift amount

Post by fourwaystreet » Wed Nov 07, 2018 9:42 pm

I gave my three children the exact same gift for their BS degrees, lunch with their siblings and aunt. They got the exact same thing for the MS degrees minus the aunt.

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Socrates28
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Re: College graduation gift amount

Post by Socrates28 » Wed Nov 07, 2018 9:47 pm

I gave my niece $250 last spring for her graduation.

Mike Scott
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Re: College graduation gift amount

Post by Mike Scott » Wed Nov 07, 2018 10:05 pm

Our kids have paid/worked/scholarshiped their own way through college. For graduation we have offered to pay for a fairly significant for us graduation party or similar priced trip of their choice. One chose the trip, two chose the party and we will find out what three wants next spring. We have also made a donation to the university scholarship fund to get a personalized "brick" in the center section of the campus quad. The brick is not as much for them as it is for other personal reasons but they have been surprisingly interested in them and their "neighbors".

andypanda
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Re: College graduation gift amount

Post by andypanda » Thu Nov 08, 2018 8:33 am

A cash gift?

I got lunch and a stainless Omega Seamaster so I wouldn't be late for work the first day. The watch was $105 in 1972 and I don't know what lunch cost.

The watch still works, too. I quit working in 2012... :sharebeer

RickBoglehead
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Re: College graduation gift amount

Post by RickBoglehead » Thu Nov 08, 2018 8:40 am

We gave both of our sons a car. The first one got a 1998 Explorer, given to him in 2009, so it was 11 years old. The second one got a 1999 Grand Marquis, given to him in 2014. Ballpark values for each was around $2,000. These were family vehicles that were not being used, each had been using them somewhat during college.

Contracts gave us first right of refusal on a sale, and guaranteed them the average between KBB and Edmunds, from us, as payment. First one we bought back, second we helped sell, but he put in zero effort so we pocketed part of the sale.
Last edited by RickBoglehead on Thu Nov 08, 2018 12:56 pm, edited 1 time in total.

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mhc
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Re: College graduation gift amount

Post by mhc » Thu Nov 08, 2018 9:18 am

I paid for my own college. I think my mom got me a cake for my BS. I don't remember anything for my MS.

I plan on paying a substantial amount for my children's education. Times have changed. I can't imagine giving them a graduation gift, but I might. I'm not opposed to helping my kids, so help may come in the form of a graduation gift. Then again, I may give them nothing.

NYC_Guy
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Re: College graduation gift amount

Post by NYC_Guy » Thu Nov 08, 2018 9:24 am

I helped my kids with post-graduation trips before their full-time jobs started (graduation in May, jobs starting in August/September). ~6 week around the world, staying in cheap hostels. Budget airlines. If they didn’t have a job secured, I wouldn’t have funded the trips.

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leeks
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Re: College graduation gift amount

Post by leeks » Thu Nov 08, 2018 10:06 am

If your child has graduated with no debt, that is an incredible gift. Cooking a nice dinner or going to a restaurant for the family to celebrate seems adequate.

TSR
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Re: College graduation gift amount

Post by TSR » Thu Nov 08, 2018 10:29 am

A lot of the responses to this are expressing the values of the responders, not so much the practical realities of the question. The best answer to "what should I give someone" always involves an analysis of "what are their needs and wants," and "what am I willing and able to provide?" What's your kid going to be doing? I moved to NYC after graduation, and I told my dad I would probably need some help. As a graduation gift to me, he provided a lot of help, including some help with a security deposit and maybe paying off a few electric bills here or there. I think he gave my brother a hand-me-down car, so this was sort of in the same dollar range. Depending on what your child is doing, there's likely a way to help. That would only apply if you think your child is financially responsible enough to use that help wisely. If you are really set on giving cash, I'd say the appropriate amount for college graduation (a big deal) is "enough to make a difference." At that age for me starting out in the job world, that probably would have been $1,000. But I realize that's a lot of money and not everyone can be that generous.

shell921
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Re: College graduation gift amount

Post by shell921 » Thu Nov 08, 2018 11:04 am

NYC_Guy wrote:
Thu Nov 08, 2018 9:24 am
I helped my kids with post-graduation trips before their full-time jobs started (graduation in May, jobs starting in August/September). ~6 week around the world, staying in cheap hostels. Budget airlines. If they didn’t have a job secured, I wouldn’t have funded the trips.
I like this!

After graduation from college I went on to grad school and my widowed mother
helped me with that. Once I got my teaching credential, my mom bought me a new car
so I could drive to my first teaching job! After the first 2 years of teaching I
began taking my mom on trips and buying her nice gifts !

Housedoc
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Re: College graduation gift amount

Post by Housedoc » Thu Nov 08, 2018 12:00 pm

Dinner at a nice restaurant with family and a few of his friends along with $2000. We paid for their college and they were debt free. They used the money for new job related clothing, deposits on utilities and apartment. I think a good 1st foot forward sets the tone for a good life. Both are fiscally responsible and doing well. I would rather spend it this way than on attorney fees for misdeeds.

MOBugeater
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Re: College graduation gift amount

Post by MOBugeater » Thu Nov 08, 2018 12:46 pm

We paid for most of our children's College so when it came time for graduation we went out to lunch or dinner with the family who attended graduation. Additionally, we bought them each a new suit.

If I recall correctly, I believe the grandparents of our children give them Gifts of about $500.

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Alexa9
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Re: College graduation gift amount

Post by Alexa9 » Thu Nov 08, 2018 12:52 pm

Son/Daughter: Pay for college, one car, one laptop, one cell phone (not obligatory at all)
Nephew/Niece: $100
Good Friends: $50

L8rboys
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Re: College graduation gift amount

Post by L8rboys » Thu Nov 08, 2018 1:19 pm

In contrast to our typical Christmas and birthday gifts which were quite modest in comparison to their peers, for college graduation we gave each of our three children:
- A note saying we would pay for their student loans (during college they had to pay room and board and were intentionally lead to believe they would have to pay any student loans. This helped encourage them to keep loans low and get part-time jobs.)
- An original painting of their childhood home by a local artist (ranged from $800 to $1200 as he became more well-known)
- A trip with us to a location of their choosing (two were Europe, one is New Zealand in the planning stage).

They are all hard-working, intelligent, and kind, young adults who now have to be financially independent. Everyone makes different choices, but we are happy with ours.

NJdad6
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Re: College graduation gift amount

Post by NJdad6 » Thu Nov 08, 2018 3:20 pm

Gave my niece $1000. Other kids $100-$500 depending on the relationship. Not sure if I will give my kids a cash gift. Paying 100% of undergrad, providing cars, spending money etc. As another poster mentioned, plan on giving money for down payment on house, etc. BTW-they are very appreciative and ask for very little. We have open discussions about money and expectations. I am very fortunate.

focusedonwhatmatters
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Re: College graduation gift amount

Post by focusedonwhatmatters » Thu Nov 08, 2018 4:31 pm

Thank you for all the responses!

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