High Gas Prices Mean Lower Back-to-School College Spending
Posted 13 Aug, 2008
Economic changes aren’t just affecting big things like college choices and admissions; it turns out they’re affecting the little things, too. From dorm room bedding to new computers, students are searching out the best deal.
Gas: The New Grad Money “Splurge”
According to a recent Reuters article, gas prices may be causing students to kick the trend of spending their high school graduation cash on laptops and other back-to-school necessities. Instead those “congratulations!” bonuses-and their summer savings-are reportedly going to fund their gasoline consumption.
What the article doesn’t discuss is the change this could cause for students who use their summer funds to pay their share of college costs and how the increased gas prices will affect them. Choices for these students are few; many will have to either work more to increase their income, carpool to decrease their gas spending, and/or take out additional student loan funds to make up the difference between earnings and college costs.
The Raw Statistics
With students spending less and parents reportedly setting aside tax rebate funds to help out with school expenses, just how big of a change is expected? Here are the raw statistics, straight from the Reuters report, provided by the National Retail Federation:
CHANGING COLLEGE SPENDING
Last Year
This Year
Per Person Spending Estimate
$641.56
$599.38
(7% decrease)
Electronics Spending Estimate
$258.43
$211.89
(18% decrease)
Shopping Online
21.4%
24.8%
How Your Family Can Save
Increased gas prices (and food prices!) may be making things tight, but smart shopping can help you keep your back-to-school shopping budget at a minimum. Here are a few websites that may help you out:
Computers/Electronics/Software
Price Comparison
Coupons & Discount Codes
All the best,
Deborah Fox
Deborah Fox is the founder of Fox College Funding®, a nationwide company that helps families find creative ways to reduce their college costs.
photo: Gasstation by flippnjj
Subscribe in a reader
Subscribe by Email
Related Posts
Economic changes aren’t just affecting big things like college choices and admissions; it turns out they’re affecting the little things, too. From dorm room bedding to new computers, students are searching out the best deal.
Gas: The New Grad Money “Splurge”
According to a recent Reuters article, gas prices may be causing students to kick the trend of spending their high school graduation cash on laptops and other back-to-school necessities. Instead those “congratulations!” bonuses-and their summer savings-are reportedly going to fund their gasoline consumption.
What the article doesn’t discuss is the change this could cause for students who use their summer funds to pay their share of college costs and how the increased gas prices will affect them. Choices for these students are few; many will have to either work more to increase their income, carpool to decrease their gas spending, and/or take out additional student loan funds to make up the difference between earnings and college costs.
The Raw Statistics
With students spending less and parents reportedly setting aside tax rebate funds to help out with school expenses, just how big of a change is expected? Here are the raw statistics, straight from the Reuters report, provided by the National Retail Federation:
|
CHANGING COLLEGE SPENDING |
||
|
|
Last Year |
This Year |
|
Per Person Spending Estimate |
$641.56 |
$599.38 |
|
Electronics Spending Estimate |
$258.43 |
$211.89 |
|
Shopping Online |
21.4% |
24.8% |
How Your Family Can Save
Increased gas prices (and food prices!) may be making things tight, but smart shopping can help you keep your back-to-school shopping budget at a minimum. Here are a few websites that may help you out:
Computers/Electronics/Software
Price Comparison
Coupons & Discount Codes
All the best,
Deborah Fox
Deborah Fox is the founder of Fox College Funding®, a nationwide company that helps families find creative ways to reduce their college costs.
photo: Gasstation by flippnjj
Subscribe in a reader
Subscribe by Email
Leave a Reply