60 percent of parents say they’ll have to borrow money to cope with school costs

It can be a pricey time of year.

Right now, most of us are gearing up for the kids to return back to school. Along with books, uniforms and stationary, there's a lot of things that we have to prepare for. However, a new survey by the Irish League of Credit Unions has found that some parents will have to forgo buying their children a few items as they can't afford it. The study revealed that 37 percent of parents will be in debt to cover back-to-school costs, while 42 percent will have to borrow €400 to €500 to buy supplies. Those who have kids in primary school spend an average of €999 per primary school child, while those who have kids in secondary school will spend an average of €1,379 each. To top that off, 60 percent said that they will have to use a moneylender to cope with the cost of their kids going back to school in September. Nearly 70 percent say that back-to-school costs are a financial burden on their family, and don't know where to turn to at this time of year.