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Parents Turning to Loans as Back-to-School Costs Soar

A recent survey has revealed that the number of parents resorting to loans for back-to-school expenses has tripled since last year. Currently, approximately 12 percent of parents are turning to loans to finance their children’s school supplies, a significant increase from 4 percent in 2024. This alarming trend comes as the Irish League of Credit Unions (ILCU) reports a rise in overall school-related costs for the upcoming September.
Back-to-school expenses are expected to place a heavy financial burden on families. According to the ILCU survey, parents with children in primary school will spend an average of €1,450, while those with secondary school children will face costs averaging €1,560. This marks an increase of €364 for primary school parents and €159 for secondary school parents compared to last year.
The survey, which included 730 parents, indicates that a third of respondents expect to incur debt due to back-to-school expenditures. This is a notable rise from 25 percent last year. In addition, 35 percent of parents reported that they would have to deny their children at least one essential item for school. Notably, half of the parents indicated that new gym gear is the item most likely to be skipped this year.
In light of these findings, Darren O’Rourke, Sinn Féin’s Education spokesperson, is urging the government to implement a cost-of-living package in the forthcoming Budget to assist struggling families. He stated, “This survey undertaken by the ILCU found that one in three families will be forced into debt to send their children back to school this Autumn. This is shocking and shows the stark reality of the cost-of-living crisis.”
O’Rourke also highlighted an additional financial strain on parents, noting that 78 percent of schools request a so-called “voluntary” contribution. These contributions are crucial for schools to operate effectively and address the increasing funding gap from the government, which is estimated to be around €25,000 per primary school.
The rising cost of education and the financial challenges facing families underscore the need for government action. While initiatives such as free school books and hot meals have been introduced, O’Rourke contends that these measures do not adequately alleviate the financial pressure on families.
As back-to-school season approaches, many parents are finding themselves caught in a difficult situation, balancing essential educational costs with the realities of their financial circumstances. The ILCU’s findings serve as a stark reminder of the ongoing cost-of-living crisis affecting households across the country.
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