Back to School Spending for College Students
By Doug Desjardins
While most of the news about back-to-school spending is bad this year, consumers are spending more in one category than they did in 2008. According to a study by the National Retail Federation (NRF), parents of college students returning to school expect to spend on average $618.12 this year, up 3% from $599.38 in 2008. That total is skewed to college freshman, whose parents plan to spend $820.77 on back-to-school shopping per student this year compared to only $442 for college seniors, representing the need for one-shot items like laptop computers.
"The economy is forcing young adults to make hard decisions about which schools to attend, where to live and what's really a ‘necessity' for college," said Tracy Mullin, president and CEO of the NRF. "This year, college students are just as focused as their parents on finding good deals and making smart choices with their money."
That shows in survey results that show 46.1% of parents will search for supplies that are on sale with 30.8% planning to comparison shop and hunt for bargains and coupons. The economy is also forcing more students to live at home, with 58.5% saying they'll live at home this year instead of a dorm room or apartment compared to 54% last year. That trend will have a significant impact on some retailers that rely on back-to-school spending to spur sales after slow summers.
"The trend of students living with their parents will disproportionately impact home furnishings retailers, as fewer people may be purchasing kitchen items, home décor and furniture," said Phil Rist, Executive VP of Strategic Initiatives for BIGresearch, which conducts studies for the NRF.
But that's the case for most categories. Spending will be flat or down from last year on school supplies ($61.05) and dorm room and apartment furniture ($80.06). The one exception is electronics and computer related products, with parents expected to spend an average of $266 per student, up more than 25% from 2008.
Laptop computers - notably smaller and less expensive netbooks - are high on the list of purchases this year and many people are finding deals at Wal-Mart, which is selling Acer Notebooks for $298 and Dell mini computers for $348. At Ben Bargains, consumers can find a computer coupon good for $165 off a refurbished HP Mini Laptop at $235 (expiration date unknown) and a refurbished Asus Mwave netbook with a 7-Inch screen for $128 including shipping (expiration Sept. 30). Other back to school bargains are available at Ultimate Coupons including JC Penney coupons good for 40% to 60% off select dorm bedding and furniture.