Released: August 15, 2008

College kids scrimp this year

Source: Jayne O'Donnell, USA Today

Retail sales, already hurt by the fading and somewhat disappointing effect of tax rebates, are facing another looming threat: For the first time in at least five years, back-to-college spending is projected to decline this year.

Even as parents of kids heading back to grade school say they plan to fork over more than last year, college students and their parents say they’ll cut back, reversing an upward trend many retailers had been relying on.

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