A recent survey of over 1,000 parents of K-12 students found that 89% feel financial pressure from school costs, with 39% saying this pressure peaks before school even starts. The survey, conducted by Centiment for Accredited Debt Relief, revealed that 60% of parents carry school-related debt, and most plan to add more this fall.

Financial Strain on Households

Clothing and shoes put the most financial strain on households, with 37% of parents naming them as one of their two most burdensome expenses. Electronics followed at 25%. Among parents earning under $40,000, essentials like supplies, clothing, and transportation dominate the list of top stressors.

Making more money isn’t a guarantee that parents will pay cash for school expenses. In households making $80,000 or more, 34% still carry $1,000 or more in school-related debt. A bigger paycheck tends to expand what families buy, not reduce what they owe — and the debt accumulates either way.

Consequences of School-Related Debt

A household’s growing school debt can affect its entire financial picture. Seventy-six percent of parents say school-related costs have led to at least one financial trade-off, such as making minimum payments on debt, postponing savings or debt payoff, or delaying bills. Some families have sacrificed important expenses, like cutting back on everyday essentials or keeping a child out of an activity due to the cost.

Original reporting: El Paso News (HLL/CB) — read the source article.