Cost of going back to school, the second most expensive in history

The average back-to-school costs for 2024 comes out to $874.68 per student, according to a survey from the National Retail Federation. Households with children and youth in elementary through high school are expected to spend such a large amount - the second-highest in the survey's history - on clothing, shoes, school supplies and electronics.

For college students, spending rises to an average of $1364.75 on items for the coming school year (this total spending is projected to reach $86.6 billion).

Spending categories

The parents of children and youth in schools - primary or secondary - anticipate spending an average of "$309.35 for electronics ($13.7 billion in total), $253.29 for clothing and accessories ($11.200 million total), $141.62 for school supplies ($6.3 billion total) and $170.43 for shoes ($7.6 billion total)."

For college students the figure rises and the top five categories include:

- $359.49 on average for electronics ($22.8 billion total); 

- $192.40 for bedroom or apartment furniture ($12.2 billion total);

 - $171.06 on clothing and accessories ($10.9 billion total); 

- $149.71 on food ($9.5 billion total);

- $112.60 on shoes ($7.1 billion in total).

Most of the purchases are online 

As of early July, more than half (55%) of shoppers reported having already begun purchasing items for the school year. Katherine Cullen, NRF vice president of Industry and Consumer Information stated:

"The back-to-school and college season is an important time for retailers and consumers (...) Families and students are eager to begin shopping for the start of the school year. Retailers have anticipated this early demand and are well positioned to offer a variety of products at competitive prices."

According to the survey, the top shopping destinations "for back-to-college students and their parents are online (50%), followed by department stores (35%), discount stores (31%)and college bookstores, office supply stores and clothing stores (at 26%)." Accoring to Prosper's executive vice president of strategy, Phil Rist:

"Last year's high water mark was driven in part by record investments in electronics, with 69% of back-to-school shoppers planning to buy a laptop, tablet or other electronic device for their student (...) Typically, these are items that students may use for several years, which may be why we're seeing a little less interest in electronics this year."