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More than half of U.S. parents report needing financial assistance to buy the technology their children need for school, an alarming statistic as the new school year begins.
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Mobile device recycling company EcoATM Gazelle surveyed 1,000 parents with children ages 8 to 18 about their technology spending habits.
Nearly two-thirds of parents surveyed said they consider buying new technology for their children at least once a year, and 56% said they need to buy technology to make their children tech-savvy. Plus, with so much homework online, most kids wouldn't be able to graduate high school without a computer.
But many families can’t afford the expensive technology.
The survey found that 55% of parents said they have taken out credit card debt, taken out installment payments or borrowed money from friends or family to buy new technology for their children's school, and nearly half said they have chosen not to buy devices for their children because of the cost.
41% of respondents said inflation has made them interested in affordable, lower-cost brands. EcoATM Gazelle sells refurbished technology and presents itself as a sustainable, affordable alternative for price-weary parents.
“With technology becoming a necessity in today's learning environment, parents want to ensure their children have the devices that will help them achieve their goals,” ecoATM Gazelle CEO Stan Pavlovski said in a press release. “As a father, I share these concerns and believe parents should have access to technology and shouldn't have to choose between buying a quality tablet or phone to help their child succeed in school and paying for their grocery bill.”
