The end of one road that leads to the next journey is high school graduation. Students who graduated in June from Riverside High School are, left to right, Gracie Studart, Cory Morrell, Cara Sizemore, Charlotte How and Divya Khandke.
Carlie Kerechanin is delighted with a new car bought for her and her twin sister, both seniors at Riverside High School. Not factored in for most seniors is the rising cost of gas, now 46 cents higher ($3.59 a gallon of unleaded regular) that one month ago.
Prom costs are arguably one of the biggest expenses for a senior. Nathalia Fernandes is pictured with her date from last year’s prom.
The beginning of the school year brings to mind the typical supply list and clothes shopping, but for many seniors in high school, it also brings extraordinary expenses.
“In terms of expenses, it all adds up. Things like paying for individual cords for graduation and mailing graduation announcements really add to the cost,” said Kathy Kerechanin, mother of four high school graduates and two seniors.
Events like the prom also tend to consume the budgets for seniors.
USA Today calculates that some families will spend closer to $1,000 for the prom.
Transitioning from high school to college are necessary costs of being a senor. The college application process are fee-based in practically every step of the process. The average student taking the SAT twice pays $100 ($50 each). And students could pay $250 or more applying to colleges with application fees of $30 to $50.
Patricia Seaman, Senior Director of Marketing and Communications at the National Endowment for Financial Education, said there are ways to be prepared with the costs of senior year. “Either talk to another family who has just been through it or talk to a youth who has just graduated and try to get a fix on the expenses as early as you can,” said Seaman.
Seaman said that a student working part time can help pay some fees or families could incorporate decisions, for example choosing between buying a class ring or taking a senior trip.
Other money saving ideas include hiring freelance photographers at lower rates for senior photos and simplifying graduation party invitations to minimize costs.
Sam Estrin, a sophomore at the University of South Carolina, thought her memorable senior year was worth the money she spent. “I spent $400 for prom and over $300 for the two sports I played, but it was all definitely worth it because I was socializing with friends and my senior year I really came out of my shell”
* The cost of being a senior
$300 – Senior portraits (full package)
40 – Parking lot ticket
380 – Prom
50- Prom ticket
30- Dinner, one appetizer and one entrée
200- Attire
20- Corsage or boutonniere
50- Car rental
30- After prom ticket
100 – Two SAT tests
70 – Two ACT Tests
30 – Graduation cap and gown
20 - Two graduation cords
70 – Yearbook
250 – College application fees, 5 schools
200 – Senior trips
30 – Senior memorabilia
100 – Graduation party
$1,590 – Total
• Estimated excluding normal expenses such as books, lunch and extracurricular fees.