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I'm Homesick and Need Money!
How to Prepare for the Freshman Year By Lisa Marie Metzler
You can almost bet that at some point during the first semester your student will call home with an urgent request for money. Before you send a check, ask questions and get to the root of the problem. Has your student run out of money because he/she spent it foolishly and can't explain where the money went? Or, is it something unexpected like a mechanical repair for their car?
If your student has made some poor decisions, Dr. Seymour recommends you don't bail them out. However, if the need is genuine then consider giving an advance or a loan. "There is something to be said about learning good money management techniques," he says. "If we as parents always bail them out, they will not learn." 
If you haven't already, get an accurate picture of what the total college cost will be for the first year. Then sit down and discuss with your son or daughter what is expected of them. Be very clear of what you intend to pay for and what you expect your son or daughter to be responsible for. When your son or daughter is contributing to his college education, ownership of their education will motivate them to attend classes and strive to get good grades.
If you've set a good example in the informative years, you probably won't receive too many pleas for money. The Sheltons gave their son a credit card for emergency use only. They were assured this wouldn't be a problem because as a family they do much of their business by cash and rarely carry a credit card balance. "I think he just picked up that approach by osmosis," she says.
Shelton says that her son's freshman year was a result of supporting her son but not hovering too close. Her son confirmed that when he sent her a Mother's Day card last year that read, "I never could have made this first year of college without you!"