66% of parents willing to go into debt to keep their kids in style, study shows

As school is set to begin for many Maryland families in the coming weeks, a new study has revealed the lengths parents will go to keep their kids in style.

According to a report from BadCredit.org, 66% of parents would go into debt so their kids fit in at school.

The study comes as Americans continue to be strained by inflation, mostly due to tariffs imposed by the Trump administration. However, despite growing concerns, consumers are still spending, prioritizing social comfort over financial responsibility.

"Parents realize that keeping up is becoming an arms race they can't win, but they often can't help but try to do their best for their kids, even if that means making financial sacrifices about their own financial well-being," said Bobbi Rebell, a consumer finance expert. "The expectations keep rising, often amplified by social media, and parents are forced to make tough choices."

"The expectations keep rising..."

Back-to-school shopping is a tradition that, for many parents, has become increasingly more complex due to social media.

Parents are not only spending to keep their kids academically prepared with essential school supplies such as notebooks, backpacks, and binders, but shoes, clothing, and the latest gadgets are being accounted for, too.

"The expectations just keep rising, especially because social media is creating an impossible standard that also keeps rising," Rebell explained.  

The study surveyed 1,000 U.S. parents of school students and found that 57% admitted to overspending due to the fear of leaving their kids disappointed. 

Gen Z parents made up the majority, with 73% admitting to a willingness to overspend.

Milennials trailed Gen Z'ers with 62%, Boomers made up 55%, and Gen X'ers 51%.

48% of those surveyed also admitted to feeling guilty and inadequate if they were unable to afford the latest name-brand or trendy items, according to the study.

The survey found that almost half (47%) of parents expect to spend from $200 to $499 per child for back-to-school shopping. However, 59% of those surveyed hadn't discussed a budget with their kids, which reveals many American families fail to discuss money openly. 

What's the solution?

Parents have admitted that they'd agree to paying higher taxes if public schools would cover the cost of supplies.

Nearly 86% of parents believe students should begin the school year by receiving an equal amount of supplies, regardless of income, in order to even the playing field.

"The solution for many is to advocate for leveling the playing field by having the schools supply what students need, so everyone starts the year in the same place. They want the focus back on education and healthy socialization. They also want financial relief for themselves," Rebell said.

To read more about the study, click here.