3 in 5 Parents Say AI is Making School a Worse Investment – WalletHub Survey

Key Findings

• AI Erodes Degree Value: Nearly 3 in 5 parents say AI is making school a worse investment.
• Biggest Financial Burden: 58% of parents say the cost of education is the biggest thing holding them back financially right now.
• Untenable Tuition: 83% of parents think the cost of education is out of control.
• Long Shopping List: More than half of parents believe that schools ask them to buy too much during back-to-school season.
• Money Skills Belong In School: 95% of parents think financial literacy should be part of the core curriculum.
• Sales Tax Holidays: Held in 17 states at different times during July and August, sales tax holidays offer savings of up to 7% on popular back-to-school items.
• Best Credit Card for Back-to-School Shopping: The Blue Cash Preferred® Card from American Express offers 6% cash back on up to $6,000 spent each year at U.S. supermarkets, where parents can purchase a lot of school supplies.

“Parents already have a lot on their plates thanks to inflation and high debt levels, and they’re fed up with schools adding to their burden. Most parents think schools ask them to buy too much during back-to-school season, a new WalletHub survey found, and 83% of parents think the overall cost of education is out of control. Many parents are even questioning whether school is a good investment in the age of AI, and I’m sure some of them joined in the chorus of boos for AI at commencements this past spring. We can’t change the system overnight, but we can turn over every stone in search of savings in the meantime. For example, you can save hundreds of dollars just by using the right credit card during your state’s sales tax holiday. That could make all the difference.”

– John Kiernan, WalletHub Editor

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