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It’s Time To Go Back to School

back to school

The holidays may have only just begun but many parents will already be thinking about the big Back to School. To be honest, the Back to School 2022 merchandise has been front and centre in the supermarkets for a month already, promoting all of the things the kids will need come September before the schools even broke up.

The trouble is that going back to school could prove a pretty expensive business, and we know from experience that parents sometimes struggle to meet all the costs.

First and foremost, going back to school could mean having to buy a whole new uniform. A new starter, a big growth spurt or even a new set of requirements from school could see folks shelling out for everything. That could include a blazer (how much !!), a couple of pairs of trousers or skirts, multiple shirts and blouses, plus the cardigans, jumpers, PE tops and hoodies, regulation coat, shoes, and trainers which many schools specify these days. The cost of a uniform for just one child can soon mount up, so the bill for a bigger family can be genuinely eye-watering.

And it doesn’t end with the uniform, does it? Going back to school means the kids will probably want a new school bag – and parents will undoubtedly be faced with demands for the latest trends – then there are things like books, pens, pencils, rulers, notepads etc. before you even get to big costs like paying upfront for an annual travel pass.

Before you know it, the bill for going back to school has added up to more than most people can afford as a one-off, especially coming on the back of an expensive summer holiday or even just the mounting costs of keeping the kids entertained during the lengthy spell off school.

If you have savings available, this could be one of those occasions for dipping into the pot. But not everyone will have enough set-aside or would prefer to save their nest egg for an unexpected cost or a something else, such as Christmas which – it pains us to point out – really is just around the corner.

The good news is that a CLEVR Money loan could be enough to cover the cost of going back to school in an affordable and responsible manner. Affordable because we never lend our members more than they can afford to pay back, and create payment plans that we know they’ll be able to meet comfortably, and responsible because we’re an ethical lender.

We are a not-for-profit organisation and we keep our interest rates as fair as possible. It also means that our back to school loans are provided in a transparent and up-front manner, with no hidden fees or extra charges in the small print. Credit union members who take out a back to school loan will know exactly how much they’ll be paying each week or month, what the total they have to repay is and how much of that total is made up of interest on the loan. The kids might be dreading going back to school but, thanks to CLEVR Money, you don’t have to.

Representative example. Borrowing £500 over 12 months will cost £50.24. Total amount repayable is £602.88 which includes interest at 42.6% APR. The figures given above are for illustrative purposes only. The actual interest rates and repayment amounts may vary subject to loan amount and status.

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