College students returning to campus this fall represent a record $306 billion in buying power, according to [pdf] a new study from Alloy Media & Marketing and Harris Interactive.

Number of Collegians at All-time High

The 10th annual “College Explorer Study” indicates close to 16 million students ages 18-34 will enter college classes this fall, an all-time record and up 6% from about 15 million in fall 2009. Their collective $306 billion in buying power is 13% more than roughly $270 billion last year.

Discretionary Spending Rises

Showing a projected 10% increase since last year, annual discretionary spending figures for the 18-34 year old college student population will rise to an estimated $69 billion, compared to a little less than $63 billion last year. In addition, students 18-34 report they are spending 3% more per month on discretionary purchases than they did last year, for an average of $361 per student.

Collegians Show Economic Optimism

When asked their opinion about the future of the nation’s economy, more than four out of every 10 students (42%) stated they feel the economy will improve in the coming year. Compared to 31% of those 35 and older in the U.S. general population2 who reported the same, it appears the current student body is expressing more confidence when it comes to the country’s financial turnaround.

Students Follow, Defy Gender Stereotypes

Male students ages 18-34 are spending more toward entertainment and technology on a monthly basis, while females lead slightly in clothing and shoes, cosmetics and cell phone purchases. However, despite stereotypes regarding male and female spending habits, males are actually spending slightly more than females for personal care products.

Continued, link to article: http://www.retailerdaily.com/entry/52553/collegian-buying-power-2010/