Everyone knows that heading back to school requires pencils, notepads, and notebooks. However, schooling comes at a price that is often much higher than many parents expect. Five places where parents are most likely to spend the most on their children’s education include:
- University tuition. By far, the biggest expense when it comes to higher education is tuition. The price of college tuition is rising on an annual basis, and the average amount spent on college tuition is about $25,000 per year. Considering that most degrees take about four years to finish, many students’ parents find themselves searching for Philadelphia debt forgiveness by the time their children are out of school.
- College textbooks. Unlike in high school, college students are expected to foot the bill for their textbooks — and they aren’t cheap. The College Board reports that an average student spends a little over $1,000 on books and other learning materials per year, a price that parents may underestimate.
- Laptop computers. Laptop computers are ubiquitous across college campuses, but more and more high school students are investing in computers for studying and note-taking as well. Parents of high school and college students who buy a new laptop for their son or daughter can pay anywhere from $700 to $1,500 for the most up-to-date models.
- New clothing. Clothing costs are highest for parents of elementary students, whose fast growth can cause them to grow out of shoes, pants, shirts, and jackets in as little as half a year. Going back to school can mean a whole new wardrobe, especially if the child is enrolled in a private school that requires uniforms.
- Extracurricular activities. Ballet, soccer, and art club, oh my! Extracurricular activities aren’t cheap, and many parents find themselves with sticker shock after seeing how much those football pads or pointe shoes will cost.
Parents finding themselves with high credit card balances following the beginning of the school year are encouraged to seek debt counseling in Philadelphia to work their way out of debt. Companies like Quality Credit Repair can help Pennsylvanians enjoy a healthier financial future. Please call 888-399-3898 to learn more!