Back-to-School Expenses Soar Due to Inflation and Tariffs

Back-to-school expenses are soaring due to inflation and tariffs. According to finance professor Russell Rhoads at Indiana University Kelly School of Business, parents are spending less this year on school supplies.

Rhoads found that back-to-school shopping started early this year, in June. Families loaded up supplies, hoping to score some sales, but the professor said the early shoppers were picky, waiting for better deals, and instead spent less this year despite higher prices.

"People are looking for sales. People are being budget-sensitive. We've seen that in the numbers as well. They are starting early, trying to be patient for sales. So if you come across something and you need it for school, I say jump on it as soon as possible."

Rhoads also recommended buying an item if it's on sale because there may be shortages of school supplies.

Rachel Thomas, a mom of two kids, said, "Everything is so expensive, especially if you have more than one kid. Everything sky-rocketed so high."

Thomas spent about $300 on both her kids for school supplies last year, but this year she's expecting to spend around $400 due to increased prices.

Rhoads' research suggests that parents are being cautious with their budgets and looking for deals. This is reflected in the numbers, as early shoppers were picky and waited for better sales before making purchases.

Shortridge High School hosted a Back to School Night event, where students received free backpacks, notebooks, pens, and more. Twenty-nine community organizations set up booths at the event, donating basic items like feminine hygiene products and clothes.

"I think it's a privilege. I think I should be grateful for it because not a lot of kids get these chances. It's a privilege."

Shortridge High School Principal Andrea Salmon said, "We try to offset the things that are costing families a lot of money right now. There are so many people in the community who are willing to help us out, and we're so grateful for that because we want kids to start strong with all the things they need."

IPS will host back-to-school nights in various schools through Friday. Thomas said it's a good thing, as not everyone is fortunate enough to be able to afford everything their child needs.