Overview

• About one in five parents say back-to-school shopping is straining their budgets and 39% report they cannot afford it, according to Bankrate and Intuit Credit Karma surveys.
• A growing 44% of parents plan to take on debt for school supplies this year, up from 34% in 2024.
• Average spending per K-12 student has dipped to $858.07 from $874.68 last year, with overall U.S. back-to-school outlays expected to hit $39.4 billion.
• To save money, 75% of parents will switch to cheaper brands, 62% intend to shop before August, and over half will cut nonessential purchases, data from Deloitte, Coresight Research and Intuit Credit Karma show.
• Target, Walmart, Staples and Meijer are rolling out major discount events beginning late July, including Target’s Back-to-School-idays from July 27 to August 2 with up to 30% off core supplies and maintained 2024 prices on must-have items.