The pressure to buy new tech for back-to-school is driving many parents into debt, with 55% relying on credit cards, payment plans, or borrowing from friends or family. Due to inflation, 41% of parents are now seeking more affordable tech options instead of high-end brands like Apple. Two-thirds (67%) of parents believe tech devices are essential for their children’s education. Among households earning over $100,000, 77% purchase tech for their kids annually, while only 57% of families earning below $50,000 do the same
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