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Parents with school aged children spend the largest amounts of money during two periods throughout the year: Holiday season and back-to-school time.
A new report from an education-centered web publication called The74Million.org covers a research study, which offers sobering information about the rising cost of back-to-school expenses. This research study was recently conducted by the Huntington Bank of Ohio and the National Communities in Schools Program, a dropout prevention initiative.
This study is called “The Backpack Index” and it has been conducted annually for the past 11 years. According to the facts published in a report based on the most recent volume of The Backpack Index, the price of back to school spending has gotten high for even the middle to upper-middle class American families who have to work for a living.
“For one child, parents might be lucky if they can get away with spending less than $1,000. The average back-to-school costs are $661 for elementary students, $1,001 for middle schoolers, and $1,488 for high schoolers,” wrote Kate Stringer, a reporter, and producer for The74Million.org.
“Middle school students see the largest back-to-school price increase this year, at 4.4 percent. School supplies alone are estimated to cost $373 for middle schoolers, with graphing calculators claiming the spot for the most expensive school item,” Stringer went on to write.
It is also worth noting that a sizable percentage of America’s middle to upper-middle class working families are dealing with crippling debt. However, families that are on the lower end of the nation’s socioeconomic totem pole are even more vulnerable to being driven below the nationally accepted poverty line standards due to these rising costs.
“These costs can be a significant burden for students in poverty, and since 2013, the majority of U.S. public school kids have come from low-income families,” Stringer also wrote.
To study more truths concerning the professional investigations centered on the rising average cost of back-to-school spending nationally, please visit all of the links to the research sources listed for this article below.