Parents are panicking about this school year for two very different reasons

Parents are worried sick about their children getting sick if classrooms reopen this school year. But those same parents are fearful about their finances if their children stay home any longer.

A new Debt.com survey asked nearly 600 parents about the emotional and financial impact of their school-aged children returning to their classrooms for the first time since the COVID-19 pandemic shut them down six months ago.

Half of parents from the poll are “very worried” about their kids’ health if they go back to school

 

1 out of 10 parents will quit their job if their kids can’t go back to school

 

More than half of parents expect to miss out on more than 10% of their income if their child(ren) can’t go back to school

 

More than a quarter of single parents will lose more than half of their income

 

Those who can work from home earn significantly more money

 

Meanwhile, those who will need to quit or cut back hours earn significantly less money

 

 

What will you do if schools don’t reopen? Percentage of respondents
Quit a job 9.29%
Cut back on work hours 21.51%
Ask to work from home 25.13%
Already home-schooled or stay-at-home parent 44.06%
What % of income will you lose? Percentage of respondents
0-10% 45.48%
11-20% 11.41%
21-30% 12.27%
31-40% 8.86%
41-50% 15.30%
51% or more 13.29%
If your kid(s) go back, how worried are you for their health? Percentage of respondents
Not worried at all 9.35%
A little bit worried 17.35%
Modertately worried 23.47%
Verry worrited 49.83%
Are you…? Percentage of respondents
Married 63.33%
Single 23.94%
Co-parenting 8.94%
Other 4.24%
If schools operate remotely, how will handle childcare? Percentage of respondents
I’ll stay at home with my kids 64.22%
A relative or family friend will stay home with my kids 18.40%
My partner or ex will stay home with my kids 13.63%
I’ll send my kids to some kind of daycare, if it’s open 3.75%
What’s your average household income? Percentage of respondents
Less than $20,000 20.44%
$20,000 to $34,999 19.25%
$35,000 to $49,999 16.18
$50,000 to $74,999 18.23%
$75,000 to $99,999 11.93%
$100,000 or more 13.97%

Methodology: Debt.com survey of 1,326 people, with 590 people being parents of children in elementary, middle, or high school. The survey was fielded July 22-August 6, 2020. More than 63 percent of respondents are married, 24 percent are single, 8 percent are co-parenting and 4 percent identified as other.