Americans expected to spend $5.5 billion on gifts for graduating students this year

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Americans are expected to spend $5.5 billion on presents for graduating high school and college students this year, according to a survey by the National Retail Federation.

According to the survey, 34 percent of respondents will buy a gift for a graduate. The average spending was expected to be $107.46.

What’s one of the most popular gifts? Cash.

According to the survey, 53 percent of gift givers will give students cash.

The next most popular choices are cards, gift certificates, apparel and electronics.

For more on the poll, click here. 

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