It’s Graduation season for high school, college, and university students. And despite the fact that many students seek financial assistance from their parents for post secondary education, parents’ spending on graduation continues to grow year by year. A new survey by the National Retail Federation reveals that consumers will spend $5.4 billion on graduation gifts this year.
On average parents will spend $112.00 on gifts. But one or two gifts from Mom and Dad isn’t it. Grandparents almost equally share in gift giving, spending on average $120.00 on gifts.
According to the survey, here are the top graduation gifts:
gift cards 33%
photo credit: flickr.com