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Back-to-school spending hits new record

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Washington, DC --  Back-to-school costs are hitting a record high with the average family expecting to spend nearly $700, even more if they have college-age students.

The National Federation of Retailers conducted a survey to find out just what parents are spending to get their offspring back to class. It's probably no surprise to anyone that costs are up. 

In 2018, the average family with elementary or high school-aged kids expected to spend $684.79. This year the cost rises to $696.70.

If there's a student in college, families will spend even more, an average of $976.78. That's up more than $30 from last year's total of $942.17.

Total back-to-school spending is expected to be $80.7 billion dollars. 

The largest expense is clothing. The average K12 family will spend $239.82. That's followed by closely by electronics at $203.44. College shoppers will spend even more on electronics with a total of $234.69. But they'll lay out less for clothes,spending an average of $148.54.

Maryland residents can get a bit of a break during Tax Free Week, August 11-17.

Qualifying clothing and footwear priced $100 or less will be exempt from Maryland’s six percent sales tax and the first $40 of back/bookbag sales also qualify.

Click here for a local poll on parents and guardians plan to spend

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