Nearly $5 billion was spent on graduation gifts in 2012, according to a survey conducted by TIME. The survey found that about $100 is spent on each gift. Regardless of how much you can or believe you should spend, it's difficult to decide what the perfect gift is going to be, so here are some ideas:

Tablets

In addition to allowing your child to further his education or socialize online, like with pricier gifts such as laptops and smartphones, it's a guarantee that you will be able to communicate with your child through email or with programs like Skype by gifting them a tablet. Tablets are compact and lightweight enough to be taken anywhere your student goes, and they can help him or her stay organized in the new college classes.

Here are the top tablets, according to CNET:

• Apple iPad: New A6X processor, worldwide cellular comparability, best app store on market — $475
• Google Nexus 7: 16 or 32GB option, long battery life, mini pad/small price — $199
• Amazon Kindle Fire: Largest selection of books on the market, 4G LTE speeds, 8.9" screen — $269

Electronic Books

One of the easiest means of assuring that your child continues his education post graduation is an electronic book. Electronic readers allow maximum mobility and can allow your student to access his or her college textbooks with a swipe of the screen, so they don't have to lug around a heavy backpack.

Best eBooks (without Internet access), according to toptenreviews.com:

• Nook HD: Allows for six different profiles, 3 million books available, HD screen — $199
• Kindle Whitepaper: Text to voice feature, long battery life — $179
• Kobo Glo Wireless: Soft cushioned back, rewards program for reading — $129

Gaming Systems

While maybe not the most productive use of time, gaming systems are undeniably popular. In part, their popularity is due to the fact that games and graphics continue to get better and better with each new release.

These are the three hottest gaming systems on the market right now, according to moneycrashers.com:

• Playstation 3 Slim: Low energy use, HD games, Blu-Ray, DVD, Wi-Fi, online player community — $250
• XBox 360 Slim: 250GB, most available games for any console, 5 USB ports, DVD, Blu-Ray — $299
• Nintendo Wii Mario Cart Bundle: Handheld user remote, Netflix streaming, Wi-Fi — $150

MP3 Players

MP3 players are popular with everyone from people commuting to and from work to athletes and health nuts that like to listen to tunes while they workout. The best part about them is that the prices of MP3 players have become very reasonably priced.

The following MP3 players offer the best value and perform the best overall, according to CNET:

• Apple iPod Touch: 32GB, Front and back cameras, 1080mp video recording, 4" Retina display — $284
• Samsung Galaxy Player: 8GB, 4.2" screen, radio, music, books, , lithium ion battery — $249
• SanDisk Sansa Clip Zip: 4GB, music, audio books, voice recorder, FM radio — $40