Today, Time discusses the 2016 Huntington Bank Backpack Index - an annual look at the cost of school supplies and other expenses — and points out that the increase is a little over 7% across all grade levels with high-schoolers facing the biggest jump.
Across elementary school, middle school and high school, the average student’s extracurricular costs will come to nearly $739 this year — about $50 higher than last year. Parents of elementary school kids are paying about $463 per kid, on average, in extracurricular activities this year, while middle-school parents will pay just over $629. As for high school students, parents will be paying an average of around $1,124. Read the full story here.
It's not just parents who have increased fees this school year, virtually all teachers are facing the same burden as they pay out of pocket for supplies for their classrooms. On average, most teachers spent nearly $500 last year, and one in 10 spent $1,000 or more. All told, a total of $1.6 billion in school supply costs is shifted from parents — or, increasingly, from cash-strapped districts — onto teachers themselves. Read the full story here.