SANTA BARBARA ,Calif. -

The Sandman Inn is almost booked for University of California Santa Barbara's graduation weekend, which coincides with Father's Day weekend each year.

Lazy Acres can't keep floral graduation leis in stock.

And Rusty's Pizza on State Street has been busy hosting large graduation parties.

Graduation isn't just for teens and young adults, grade school graduations are big business too.

A retail survey estimates that people with friends and loved one graduating will spend about $50 on each graduates.

Even more money will be spent on reservations for hotels and restaurants during the big event.

Most parents consider the occasion priceless.