Washington Week: Student Voices (O)

Reports: College spending taking new twist
By Troy Dantzler
The University Times (U. North Carolina-Charlotte)
12/29/2006

(U-WIRE) CHARLOTTE, N.C. — Some people say that a college education is the key to prosperity. Today, higher education is viewed as playing a vital role in our nation's competitiveness.

Before our very eyes, the economy of the twenty-first century is being transformed into an online/mobile economy, in which a nation's fortunes may be more directly linked than ever to the knowledge and know-how of its workers. An essential piece of the puzzle to that American dream involves having access to the educational opportunities and technological enhancements that level the playing field or at least allow one to compete.

In turn, part of the cost levied against obtaining that education involves having the right tools that allow speed and convenience to help facilitate a possible edge, or possibly just the ability to keep up in the rapidly moving landscape of higher education and technology.

Today, students are faced with very different necessities in their techno-centric lifestyles as compared to 20 years ago.

According to a 2006 report by http://wwwPriceGrabber.com, 3.5 million young adults headed off to college for the first time this fall. That number significantly contributes to the fact that back-to-school shopping for apparel, tech products and other necessities were forecasted to generate more than $25.7 billion in sales this year. College student spending for back-to-school supplies is almost twice as large as the projected amount of spending for elementary and high school students was ($14.8 billion estimate).

PriceGrabber.com recently took a look at current back-to-school college shopping trends, and some of the things considered essential to a college student today.

PriceGrabber.com predicts that college students will lead the demand for tech products such as notebooks, printers, cell phones, MP3 players, flash memory and other electronics such as calculators. "I just spent $200 on a calculator for one of my statistics classes," said Jamel Yates, a senior business major at the University of North Carolina-Charlotte. "I've been asking for Christmas gifts that I need this year, like a new palm pilot that includes Microsoft Office already; otherwise I won't be able to keep up." These days, when you make a career choice, you'd better be prepared to commit to the technology that comes with choosing that career."

While individual items may vary according to the student, university needs, demographic and geographic necessities, expect to see consumers buying more electronics than last year. "I know the cost of keeping up is getting way out of hand," Monica Piven, a junior biology major at Davidson, said. "With all of the reports and research that you have to do, you can't afford not to have a laptop or palm pilot. I don't even have the time to spend hours upon hours in the library because there are so many other things I have going on."

Boost in consumer electronic sales will also be attributable to college requirements and recommendations for laptops, as wireless access has grown to become prevalent throughout college campuses across the country.

Apple iPods will also fuel sales for back-to-school gadgets, as educational and entertaining devices for the "mobile student" lifestyle. Manufacturers will not miss out on this opportunity and will pack back-to-school notebook deals with attractive multimedia entertainment features to attract college-bound consumers.

The holidays are notorious for people spending on high-tech gadgets and gifts. If you're expecting to give or receive a new laptop or recordable digital device for Christmas, you may want to wait until after the holidays when prices are known to drop significantly because items have become outdated or have been overstocked.

Saving a few dollars today may help keep you in the game tomorrow when the next best thing hits the market. Because no matter how advanced our gadgets become, or what level of degree we aspire to attain, nothing beats good old common sense, which never becomes outdated.

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