Back-to-School Shopping Will Put a Third of Americans in Debt: Poll [Video]

Back-to-school shopping is likely to put about a third of Americans in debt, a poll said this month.

Shoppers are likely to face high prices on a variety of back-to-school items, from supplies to clothes, on top of already the high prices for necessities like groceries and housing.

In a Bankrate poll of more than 2,300 adults in July, 31 percent of shoppers said buying school supplies would mean going into debt.

This echoes a similar study by Intuit Credit Karma, which found that 31 percent of parents couldn’t afford back-to-school shopping, while 34 percent said they’d take on debt to cover the costs.

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