Just wanted to add my two cents as student who has recently graduated
. I would not be so quick to remove your son from the checking account. BUT I would be sure to have some sort of overdraft protection. Though I agree with the previous poster about not giving your son a free ride, there are many situations where having a joint account can be a real life saver. Before I graduated I had a series of medical emergencies that my parents helped me with financially. With out that joint checking account, I would have been in real trouble. I was sick and in the hospital and thus I could not do PayPal, Western Union, etc. Make sure your son understands what it really means to be on the account but removing him could end up being more hassle than help.