The cost of college is invariably steep, but this year, Americans spent a large chunk of change beyond their tuition bills.
Average out-of-pocket costs reached $969.88 for families shipping their kids off to college — up from $888.71 last year, according to a new survey from the National Retail Federation. In total, that’s a projected $54.1 billion on back-to-college shopping.
[Get 5 tips for furnishing your college dorm on a budget.]
According to the retail trade group, that’s the most money families have dished out in the last seven years. Between 2010 and 2016, college families only spent more than $50 billion once — in 2012. This year’s $54 billion mark is up from last year’s $48.5 billion for college parents. The survey conducted by the federation asked 7,226 consumers for information on their spending for back-to-school shopping.
Families of college-bound students spent a combined $12.8 billion on electronics and $5.9 billion on furnishings for college dorms and apartments.
On average, each family spent $134.20 on food, $81.38 on shoes and $142.90 on clothing for college.
[See the ultimate back-to-college shopping list.]
Parents also spent $70.08 on school supplies, $56.57 on “branded gear” and $81 on personal care items.
The rest of the nation didn’t spend lightly on back-to-school shopping, either. Families with kids heading to kindergarten through 12th grade turned over $29.5 billion, with much of that money spent on clothing.
In total, Americans put $83.6 billion into back-to-school goods, with 44 percent of people shopping online. Another 40 percent hit up discount stores and 34 percent went to college bookstores to get their shopping done.
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Study: Students Spent $5.9B Furnishing Their College Dorms originally appeared on usnews.com
