(The Root) -- It's that time of year again to stock up on school supplies for the kids. Gone are the days when you could get by with a few new notebooks, a pack of pencils and a backpack to replace the one they trashed last year.

Whether your student is in elementary school or is heading to college, don't let prepping for school put you in the poorhouse. Here are three ways to save some serious cash:

* Microsoft is offering students a free Xbox 360 when you purchase a new Windows PC for $699 or more. Or, if you’re worried that your kid will spend more time using the Xbox than the PC, students can also get the latest version of Windows 7 for $64.95 (regular price: $199.99).

Read the full story at theroot.com.

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(Photo: Courtesy of BestBuy.com)