We’re all feeling the pinch of the economy. So what does that mean for college students’ purchases?

These numbers from the National Retail Federation represent both ends of the spectrum:

• Students attending college will spend 3% more than last year – averaging $618.12 for the year on electronics and dorm furnishings.
• It’s anticipated total spending will drop 4% – to $30.08 billion total – because fewer students are expected to attend college in the fall.

Nearly half those buying back-to-college items said they weren’t going to spend as much overall because of the economy. Also:

• More than 33% will use items from last year.
• More than 17% will avoid buying new textbooks, choosing instead to share or borrow.
• Nearly 13% will make housing choices based on their tighter economic situation – and many may live at home to save money.

Will this have an impact on your school? Let us know in the comments section below.

Tags: college spending, National Retail Federation