Graduating from college is a major milestone and is usually celebrated to mark the accomplishment. Family and friends party up, share gifts and make the graduating college student happy. You’ll agree with me that graduates appreciate gifts especially money. The question now is how much money to give for College Graduation Gift?
Money is regarded as one of the best gifts, among others, to give a college graduate. Moreover, it is a common gift for graduates. This is because graduates always have big plans for any gifts of money they receive, including saving it, investing it, and using it to pay down personal debts.
No doubt about how important money is to college graduates. It helps them offset bills, solve at least some new financial challenges with less stress, money could also be used to pay schools fees, payback a loan and many more. Money is a really appreciated gift for college graduates and is nice to give.
How Much Money To Give For College Graduation Gift 2023?
If you’ve decided to give money as a gift to a college graduate, consider these two factors;
1. Consider what you can afford
2. Consider your relationship with the graduate.
Having consider those two factors, how much can you give for college graduation gift? You can give $50 to $100 or more for high school graduation. This all depends on how much you can afford.
For example, if your income is fixed, you may give less around are dependent on a fixed income, you can give less $20 to $75. On the other hand, if you have a more disposable income, you can give more; around $50 to $100.
If you’re also considering relationship with the graduate, you might want to consider whether the graduate is a friend, sibling, son/daughter, or grandson/granddaughter. Giving at least $50 – $75 is ideal provided that it won’t affect your other expenses.
Your Relationship With The Graduate
For an acquaintance, a cash gift from around $10 – $15 would be ideal. It is a small gift for friends, and it is not offensive nor uncomfortable to gift since you are acquainted.
Friends of a college graduate are normally in the same age bracket; therefore, not much is expected of them; it’s understandable. Since this is the case, giving around $10 – $20 is acceptable. Your friend can’t expect you to break the bank over giving college graduation gift.
Given that you are a distant relative, you might be just close enough to the college graduate, so a cash gift around $50 – $100 can be a standard gift amount. However, if you are not that close, the right gift ranges between $30 – $60.
Nephew or Niece
Nieces and nephews usually are around parents’ age group. For you’re in this category, you should be giving something slightly higher than what you’ll give a friend. However, it all depends on how close you are to the graduate.
If you’re really close, you can go $80 – $120. You can also send other gifts aside from cash gift.
Siblings are regarded às Immediate family members. This means there a very close relationship with the college graduate, so more is expected of you. If the close family member is in the same age bracket as the graduate, you can give at least $50 – $75; however, if you are an older member of the immediate family, you can give anything that ranges from $100 – $150.
Yes! Parents! Your son or daughter is graduating from college, how much can you give? Parents take the crown as regards the height of gift to be expected, so a standard graduation gift should range from $150 to $300. It can also be a gift from the whole family.
Remember that it all depends on what you can afford. If you’re on a tight budget, $100 – $150 is a good enough.
Grandparents usually have a close relationship with the graduate. If as a grandparent you want to give cash gift, around $100 – $150 is ideal. We recommend you give something lower than the parents to avoid comparison
Having known how much to give for College Graduation, also understand that you’ve got follow some simple giving etiquettes. It includes putting the money in an envelope and handing it over with a few congratulatory words.