Noworry believes it depends. Allowance should not be limited to certain dollar amounts. It depends on family income, college cultures, and needs. Yes, allowance depends on the needs.
A well off family gives a little more and expensive college needs more.
Never be too cheap to your college students, which is simply not good and not fair to your college students They need some extra money sometimes.
You know your kids. Most of college students will not waste money. They do appreciate their parents’ kindness and generosity. However, without enough allowance ,a college student will look poor, cheap and lack of social life, which is very very bad.
How much would the allowance be?
$500-$1000 a month. Need more, give more. Forward the unspent money into next month. Keep monthly balance of $500