Monday, September 3, 2007

College Kids Are Big Spenders

WASHINGTON, D.C. (Wireless Flash - FlashNews) – College students are packing up and heading to school, and there’s one thing they won’t forget – their wallets.

According to a survey by the National Retail Federation, college students and parents are expected to spend a whopping $47.3 billion gearing up for school.

The big spenders will dish out an average of $956.93 on back- to-college merchandise, up from last year’s average of $880.52.

Other college costs include...

  • $7.41 billion will be spent on fly gear for the school year, like clothing and accessories.

  • Must-have electronics like laptops, digital cameras, cell phones, iPods, and the trendy iPhone will have college kids spending $12.8 billion, while school supplies like notebooks, folders, and pencils, will set them back $314 billion.

  • Students will spend a pretty penny – $15 billion to be exact – on college text books.

  • Furnishings for their new dorm digs are expected to reach costs of $5.43 billion, with students ages 18-24 spending an average of $158.61 to get their pads perfect.

  • Finally, 57 percent of students will be shopping for school stuff at college bookstores, while nearly 52 percent will head to discounters, and 42 percent will spend their college cash at department stores.

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