- Meals out (£81), suits (£66), and cap and gown hire (£63) top the list of the most expensive graduation expenses
- From skipping holidays to cutting food shop costs, families pay the price to give their child a graduation to remember
- Over a fifth (21%) were caught off guard by unplanned graduation costs, including photography and flowers
- Confused.com’s personal financial expert Tara Evans explains how families could cover the cost of graduation by just £5 a month
The season for graduation celebrations is in full swing. Yet as students across the country mark the end of their education, that milestone comes with a large price tag for parents and students alike. New research from personal finance experts at Confused.com reveals that graduation costs could mount up to an average of £766 per person.
As a result, a third (33%) of parents and students want a cap on graduation costs as prices continue to rise each year.
Confused.com reveals the average cost of graduation expenses:
| Graduation item | Average cost per person |
|---|---|
|
Meals out
|
£81
|
|
Suit - specialist shop
|
£66
|
|
Suit - high street
|
£64
|
|
Cap and gown hire
|
£63
|
|
Dress - high street
|
£63
|
|
Dress - specialist shop
|
£60
|
|
After parties
|
£53
|
|
Shoes
|
£53
|
|
Transport
|
£48
|
|
Accessories
|
£44
|
|
Tickets
|
£42
|
|
Hair - professional
|
£40
|
|
Makeup - professional
|
£33
|
|
Makeup - DIY
|
£27
|
|
Hair -DIY
|
£29
|
According to the research, meals out, suits from specialist and high-street shops, and cap and gown hire top the list of the most costly graduation expenses.
Suits and dresses for graduations cost an average of over £60 per person, and with costs increasing, people are becoming savvier with their spending. This has resulted in a fifth (20%) of people considering second-hand or rental items to cut costs on graduation.
With graduation, there are some essential expenses, including tickets, caps and gowns, as well as outfits. These alone add an average of £171 for a boy and £168 for a girl onto the bill. And that’s before any extras are factored in.
For those celebrating with a meal out, transport, and hair and makeup, that adds another £202 to their graduation costs on average. And for parents with more than one child graduating, the prices can quickly double.
As prices for many are increasing and people don’t want to miss out on this milestone due to costs, Brits are finding themselves struggling to cover the costs.
For many, graduation is an emotional milestone, marking the hard work students have put in throughout university. That’s why 40% of Brits are prepared to make the occasion work financially because graduation is a sentimental day.
As a result, this drives spending even when money is tight. Over a third (37%) said they use their savings to pay for graduation costs. While over a fifth (21%) saved specifically for the occasion.
With many saving and preempting the increasing costs of graduations, the milestone is still cutting into families’ finances in real ways, resulting in lifestyle sacrifice to fund the big day.
From skipping holidays (11%), reducing days out (11%), and buying less clothes (11%) to cutting down on food shops (9%) - families are paying the price to give their child a milestone experience at the expense of their daily lives.
And graduations aren’t only affecting daily finances. More than 1 in 6 (17%) said they cut back on their savings to afford the costs that come with graduations.
Despite graduation being an expectation at the end of a university journey, over a fifth (21%) were still caught off guard by unplanned graduation costs, including cap and gown hire, photography, and flowers.
With more opportunities for spending comes more pressures around the graduation itself. The research found that 24% of people felt the pressures around graduation have increased each year.
Nearly a third (32%) feel that the costs of graduation have increased each year. With pressures mounting for students and parents across the country, many will be looking for ways to maximise the occasion while saving money in the process.
Tara Evans, personal finance expert at Confused.com, shares her top tips on managing the costs of graduations:“Graduations are a huge milestone event for students and families alike, giving people the opportunity to celebrate their achievements with their loved ones.
“It can be the pinnacle event for plenty of students and is something that people look forward to for the year to mark the end of their university experience.
“While graduation is generally guaranteed at the end of a student's university experience, the costs can quickly rack up. But there are ways for students and parents to make the occasion more manageable for their finances, all while enjoying the milestone event. These include:
- Shopping secondhand: Our research reveals that plenty of people already do this to reduce graduation costs. Shopping on places like Vinted or eBay are cost effective ways to save money on outfits, accessories, shoes, or even decorations to mark the occasion. The second-hand market is growing and becoming a more popular alternative to high street shopping, all while preserving finances.
- Rent or borrow items: Similar to shopping for second-hand, renting or borrowing items is a great way to save, and it means you don’t have to hold on to items you may not use again either. While this is already common to do with cap and gown hires, many people are starting to do this with dresses, suits, and shoes. That way people can mark the occasion without breaking the bank.
- Set a budget beforehand: Graduations are almost always a guarantee for students once they finish university, so planning a budget in advance and saving towards graduation costs could help. Using apps like Monzo lets you put money into pots so you can easily keep track of what you’re saving.
- Get saving: Even just stashing away £5 a month could help with saving up to cover the cost of your or your child’s graduation. By saving this amount every month, your child is in university, 3 years later, you could have £780 set aside. This could increase even further in a high-interest savings account.
- Use money from part-time jobs: Having a part-time job and going to university can go hand in hand, and many students are working alongside their studies. To support parents with graduation funds, students could contribute some of their earnings towards their big day. Not only does this relieve some of the finances for parents but also allows students to contribute to their own milestone event.
- Do a DIY celebration meal: Our research reveals that going out for a meal is the most expensive graduation cost on average. Making a DIY dinner at home, whether it’s picky bits, a full dinner, or another alternative, is a good way for people to save money on eating out but still continue the celebrations.
“Celebrating a graduation doesn’t have to come at the expense of your bank account or finances. Cutting back and saving on a few things can go a long way to help mark the occasion.”
-ENDS-
Unless otherwise stated, research carried out by One Poll on behalf of Confused.com of 1,586 UK adults who are attending / have attended a graduation including their own or their child’s. This was conducted between 3rd - 15th June 2026.
Confused.com press office
About Confused.com
Launched in 2002, Confused.com was the UK’s first digital marketplace for car insurance and is one of the leading brands in the sector, generating over one million quotes per month. It has expanded its range of comparison products over the years to include home insurance, van insurance, motorcycle insurance, and car finance comparison, as well as a number of tools designed to save consumers money.
Confused.com is not an insurance company or lender. It provides an objective and unbiased service. By using cutting-edge technology, it has developed a series of intelligent web-based solutions that evaluate a number of risk factors to help customers with their decision-making, subsequently finding them great deals on a wide-range of insurance products, financial services, utilities and more. Confused.com’s service is based on the most up-to-date information provided by UK suppliers and industry regulators. Confused.com is authorised and regulated by the Financial Conduct Authority.
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