Cost Of College
September 7, 2004, 4:49 PM
Tuition continues to creep up, but if you're a parent of a college student, you know that books and room and board aren't the only costs your kids are facing this fall. Parents might remember the days college students packed a few essentials in a duffel bag and headed off to campus for a year of learning. But that's not the case anymore. Now students are renting U-Hauls to move their belongings. But at what cost?
The National Retail Federation surveyed 7,400 college-age consumers to find out just how much they're spending as they head back to school. The total is staggering; 40.5 billion dollars is spent during the back-to-school shopping season and is second only to the holiday shopping season. So where are college students spending their money?
The average freshmen spends $1,206 with about $760 going toward electronics like computers and other technology. Sophomores spent about $445. Juniors who may be moving off campus for the first time spend about $812 with nearly a third of their spending, $278, going toward furniture for their apartments. And seniors spend $425.
Students say they'll spend at least 50% of that money at the book store.
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