Back-to-school sticker shock
A customer shops for back to school supplies at a Target store.
The annual back-to-school spendathon is almost here. And for public-school parents, it’s going to be pricey.
Huntington Bank is out with its annual "backpack index," which tracks the cost of school supplies. The bad news: elementary school kids will need $642 in extras this year, middle-school kids will spend an additional $918, and high school students will get hit up for an additional $1,284.
Those estimates translate to an 11 percent jump, 20 percent jump, and 5 percent jump, respectively.
The biggest bumps are expected to come from higher standardized-testing fees, and fees for things like school trips, music classes and sports, according to Huntington. Many middle-school kids will also need a graphing calculator, which can run nearly $130.
Huntington didn’t include laptops or tablets in its index. But many parents will be facing extra costs for those, as well.
Since Huntington started tracking the cost of school supplies in 2007, the bank estimates they have increased 83 percent for elementary school students, 73 percent for middle school students and 44 percent for high school students.
Here’s a guide, from the group, on what you can expect this year.