Expensive graduation party - "can be anxiety-filled"

Planning for this year's graduation party is already underway. For many, it has been going on for months with renting a venue, ordering food and buying clothes.

Arturo Arques, private economist at Swedbank, has taken a closer look at the costs of graduation. For most, a graduation party lands between 10,000 and 15,000 kronor – but can cost less and significantly more.

Like everything else in life: you can make a low budget, you can have a luxury version. There, we see an enormous range of variation, says Arques and gives an example:

A graduation cap can cost over 6,000 kronor. A few may choose one for 4,000 – but most opt for one around 1,500 kronor.

Different Traditions

The culture of the area and the traditions surrounding graduation vary greatly, according to Arques. He gets support from Jonatan Lamy, chairman of the Swedish Student Unions, who says it can take a long time to save up with only student aid if the graduate doesn't have a part-time job or gets help from home.

The Swedish Student Unions have different initiatives around the country to reduce costs, such as negotiating a lower price for certain things.

Many student unions offer a support fund that you can receive money from if you can't afford to pay for your graduation party yourself, says Lamy.

The initiatives have been actualized as the debate around the costs of graduation has become more prominent in society.

For many families – not least single parents – graduation can be anxiety-filled, according to Arques.

You want your child to fit in with the group and not have it worse than anyone else. It can be hard for parents to live up to, and then there's also the risk of taking out loans, says Arques, who strongly advises against this.

Make a Plan

To reduce costs and make sure it doesn't get out of hand, it's essential to have a plan – which should be set in motion now. Start by listing the graduate's wishes, put a price tag on it, and see what it lands on.