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Tuition Rates Rise and Still 'Americans are Overspending on Proms'

The 'Americans are Overspending on Proms' Infographic shows just how big the prom industry has become. In the past decade or so, prom has gone from a special event where people dress up and go to a dance, to an opportunity to indulge in a night of ultra-luxury.

The average American family spends $1,078 on prom and surprisingly families with incomes of less then $20,000 will spend more than families with incomes of $50,000 or more. If broken down by geographical location, the southern states spend the most on prom expenses while the western states spend the least. One may wonder how prom is so expensive but once one adds up the cost of tickets, renting or buying a dress or tuxedo, dinner, a limousine and possibly a hotel room for the after party, it all makes sense.