Back-to-school season can be a bummer – not just for students, but for parents and their wallets, too. From binders and backpacks to tablets, computers and the latest clothes, there’s a lot to buy.
To gauge people’s feelings about back-to-school shopping, and thus learn more about the state of family finances, WalletHub conducted a nationally representative online survey of parents with kids in school. You can find the complete results in the infographic below.
Key Stats
- Held Back by Education Costs: Nearly 3 in 5 parents say the cost of education is the biggest thing holding them back financially right now.
- Untenable Tuition: 91% of parents think the cost of education is out of control.
- Bigger Back-to-School Bill: 53% of parents say they will spend more on back-to-school shopping this year compared to last year.
- Too Much to Buy: Nearly 3 in 4 parents believe that schools ask them to buy too much during back-to-school season.
- Education Is Worth the Sacrifice: 72% of parents think their child’s education is worth going into debt for.
- Demand for Financial Education: 92% of parents think financial literacy should be part of the core curriculum.
Full Survey & Responses
| Is the cost of education out of control? | |
|---|---|
| Yes | 91% |
| No | 9% |
| How will your family’s back-to-school shopping this year compare to last year? | |
| More spending | 53% |
| Same spending | 33% |
| Less spending | 14% |
| Should financial literacy be part of the core curriculum? | |
| Yes | 92% |
| No | 8% |
| Is your child's education worth going into debt? | |
| Yes | 72% |
| No | 28% |
| Should all school districts get the same amount of funding per student? | |
| Yes | 79% |
| No | 21% |
| Do schools ask parents to buy too much during back-to-school season? | |
| Yes | 72% |
| No | 28% |
| Where do you usually find the best back-to-school deals? | |
| Locally | 60% |
| Online | 40% |
| Is the cost of education the biggest thing holding you back financially right now? | |
| Yes | 57% |
| No | 43% |
| Do you think you could pass a high school personal finance course? | |
| Yes | 88% |
| No | 12% |
Note: Percentages may not total 100% due to rounding.
Survey Methodology
This report reflects the results of a nationally representative online survey of over 160 respondents. After we collected all responses, we normalized the data by age, gender and income so the sample would reflect U.S. demographics.
WalletHub experts are widely quoted. Contact our media team to schedule an interview.