(COLORADO) — A study by CardRates.com found that 36% of parents said it would be difficult to afford back-to-school supplies for the 2024-2025 school year.

The study interviewed 1,000 parents and learned that the average parent estimated their budget at around $500 but found actual costs to be around $900. The report said nearly 2 in 5 parents believe it will challenging to afford needed school items in 2024 and 1 in 6 will have debt from back-to-school purchases this year.

The report found the top items parents would spend money on were school supplies, clothing and accessories, shoes then electronics. Many parents will be taking advantage of community events such as backpack drives.

Even with the stress and worry over rising costs, CardRates’s study found that 53% of parents enjoy back-to-school shopping as do their children.