Back-to-school expenses are causing financial stress for parents.
According to a new poll conducted by WalletHub, a personal finance website, more than three in four parents, or 70%, believe that schools ask them to buy too much during the back-to-school season.
According to the report, 86% of parents think education costs are out of control.
Most parents, about 52% of the respondents, expected to pay more for back-to-school shopping this year than last year.
Cassandra Happe, WalletHub analyst, told the media, “In comparing this year’s back-to-school study to last year’s, several notable changes stand out.” She added, “One significant shift was the increased concern among parents regarding the cost of education,” noting that 77% of parents are willing to go into debt for their children’s education, compared to 72% the previous year.
