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Americans To Spend $4.7B On Grad Gifts

Gift cards, electronics and apparel are among the items people plan to buy.
It's nearly time for summer vacation and that means students all over the country are preparing to graduate.

And friends and families must be very proud this year.

A National Retail Federation survey found Americans plan to spend a whopping $4.7-billion on graduation gifts this year.

The organization says that's the highest amount in the survey's nine-year history.

The survey found the average person buying graduation gifts will spend nearly $98.

Gift cards, electronics and apparel are among the items people plan to buy.

But the majority of people say they plan to give the gift of cold hard cash.
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