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Back-to-school spending averages $875 per family, affecting lower-income households. 30% of parents expect to incur debt for school supplies this year. Funding shortfalls force teachers to spend $500 to $750 of their own money. Temporary child tax credit expansion in 2021 eased financial burdens for some families. Rising costs contribute to overall decline in financial well-being for parents.
- Back-to-school spending averages $875 per family, affecting lower-income households.
- 30% of parents expect to incur debt for school supplies this year.
- Funding shortfalls force teachers to spend $500 to $750 of their own money.
- Temporary child tax credit expansion in 2021 eased financial burdens for some families.
- Rising costs contribute to overall decline in financial well-being for parents.
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