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Parents cutting back on back‑to‑school spending, survey finds

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As students in the D.C. region get ready to head back to class next month, U.S. News is looking at their parents’ budgets.

“We asked parents and guardians, ‘Do you plan to reduce spending this year on your back‑to‑school expenses?’ And 48% said yes,” said Adriana Ocañas, consumer credit cards analyst at U.S. News.

The nationwide study looked at responses from 1,200 parents and guardians.

“We found it’s not necessarily the price of back‑to‑school supplies and items that’s weighing heavily on budgets this year. It’s more so the price of everything else. Eighty percent of families say that it’s the cost of gas and groceries and other everyday necessities,” Ocañas said.

Another factor impacting some parents this year is job loss.

“Almost a third of parents and guardians — about 29% — say that they’ve lost their job within the past three to six months, which is 4% higher than it was last year,” she said.

More than half the parents surveyed also say they already started back‑to‑school shopping, and they plan on spending up to $300 per child. And more than 20% of parents and guardians surveyed by U.S. News say they expect their children to help cover back‑to‑school costs, with an allowance or earnings from a summer job.

“More children of those with a household income of over $150,000 are expected to contribute financially compared with children of those who come from a household of under $50,000. So we believe that has a lot to do with the implementation of generational wealth,” Ocañas said.

Clothing and shoes expenses seem to be one of the most popular categories parents plan to spend on.

Some will try to save this year by thrifting, visiting community centers and more.

“Parents are doing those tried‑and‑true methods by store hopping and trying to find the best deals and the best discounts. Other ways are shopping during retailer events like Prime Day, waiting for those sales tax holidays,” Ocañas said.

Howard University president says more than 200 students readmitted after mass unenrollment

WASHINGTON (AP) — The interim president of Howard University said over 200 of the more than 500 first-year incoming students who were unenrolled for the fall semester have been readmitted to the Washington, D.C. school. In an interview with The Associated Press on Wednesday, Wayne A. I. Frederick defended the way the historically Black university handled the initial unenrollment, saying many students and their families apparently misunderstood the communicated financial obligations they were expected to meet before the start of instruction in August. “There were no issues as far as what we communicated," Frederick said, adding that the school had been clear since March about unpaid balances for tuition that were due by mid-July. Students who were unenrolled for financial reasons had outstanding tuition balances after their financial aid and scholarships were applied, he said. Others were unenrolled because of unreported immunizations.
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