Just when you think that $25-$50k per year for 4 years (or more!) to get a degree is quite an outlay, someone suggests you get a class ring. Presumably the considerable expense of the ring is a constant reminder of the considerable expense of the education.

The idea of a class ring originated from US military graduates at West Point, starting back in 1835. Their tradition was (and still is) to wear the ring with the Class Crest closest to the heart prior to graduation (signifying a given cadet's bond to their class) and with the Academy Crest closest to the heart after graduation (signifying the bond with the Adcademy as a whole). The Complete Book of Etiquette by Amy Vanderbilt gives similar guidance for college students: For as long as the wearer is in school, the insignia should face the wearer to remind him/her of the goal of graduation. Upon graduation, the class ring gains the status of a "badge of honor" similar to a diploma, with the effect that graduation entitles the wearer to display the insignia facing outward so that it faces other viewers. For University of Texas, an engraving of the UT main building tower faces either towards or away from the student. Traditionally, West Point graduates wore their ring on their left hand wedding ring finger (because of the vena amoris, the vein that carries blood from the fourth digit of the left hand straight to the heart). However these days the right hand ring finger is used, because of the clash of class ring and wedding ring.

Just add another $1,500 to the college bill!