For my most recent graduate, in 2010, I paid $75 plus tax and handling for a cap, gown and 25 graduation announcements. We bought from Jostens (who has a monopoly on class rings and graduation supplies, it seems). That was the bare bones package-- the economy price. I didn't buy open house invitations, graduation jewelry, party ware, or any of the other accessories. I don't know about you but I think that's outrageous. Especially after shelling out $150 for a prom tux, $15 for flowers, $50 for prom tickets and $16 for after prom (this was the best deal of all!). And then there was the $300 senior pictures, $50 year book, $20 for senior banquet tickets and $175 for a class ring. Grand total (and these were about the lowest we could find, too) over $850. It doesn't matter if parents or student pay. Costs like these punish a kid for graduating. Here's one way to save--Free Printable Graduation Greeting Cards, Commencement Announcements and Open House Invitations