Hey S. - in my humble opinion, for high school you can do $50, Bachelors I'd spend $75 - $100, and Masters $100 - $125 if you're on a a budget. Its really about the quality of what you buy. You can always go up and down from there, high school students you can buy a digital camera ( more in the $60 - $100 range ) or a token gift like a sterling key chain, or a $50 savings bond. I think its really more the thought that counts. I always aim for a sentimental bargain. If you can get something memorable at a discount that's always the ultimate in my book!