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  • The True Cost of Being a Teacher

The True Cost of Being a Teacher

David Castillo
Monday, 07 May 2018 / Published in Credit Tips, money tips, Student Loan

The True Cost of Being a Teacher

We all know when to appreciate a teacher. But do we understand how, or what for? I suspect, on the whole, we don’t (though we try).

It’s enjoyable to remember how cool some of our teacher’s rooms looked—especially as the Halloween-Snicker-sized little anklebiters we used to be. But now that we’re adults, we know what it’s like to have money on our minds; at all times.

What’s the true cost of being a teacher? It’s tougher than you think, as a recent study found:

According to a study by the National School Supply and Equipment Association, 92 percent of teachers spend their own money on classroom supplies, while 85 percent buy instructional materials for their students.

The study also found that teachers are “the primary source of funding for classroom projects” and pay for 77 percent of classroom supplies with all of the spending estimated at $1.6 billion nationwide.

The Huffington Post asked for responses from teachers on Twitter about this, and got responses like this:

#mymoneymyclass would be easier to take pics of what I haven't bought! Spend an average of $5000 each year. #sad pic.twitter.com/ujctoP0fuB

— DeeAnnMoran (@DeeAnnMoran) August 6, 2015

Decorating a class might seem like a luxury, but only if you ignore what it takes to make kids feel comfortable, welcome, and invested in the classroom atmosphere. Of course, it’s not always just decoration:

@HuffPostEdu #mymoneymyclass hundreds if not a grand each year. Most of it on books for our class library pic.twitter.com/n7E5mTWjdO

— Ms. N. Warchol (@MsNWarchol) August 6, 2015

A survey by NPR found the following eye opening stats:

  • 59 percent of teachers have worked a second job to get by.
  • 46 percent have run up debt to get by, and 36 percent have done so in the last 12 months.
  • More than 8 in 10 buy school supplies with their own money.
  • 69 percent say they’ve devoted time in the past year to helping students, even when clocked in.

Though a small sample, another NPR survey found that a sizeable minority of teachers owe more than $75K in student loans. Like many Americans with student loans in general, finding the right student-loan servicers can be difficult. And the most popular options, like Navient, were sued last year for allegedly giving customers incorrect information. For anyone familiar with the world wide web of student loans, the story of Navient shouldn’t be shocking.

Don’t just tell them you appreciate them. Donate to a Teacher’s Gift Basket (or create your own). Now that you how tough being a teacher can be, show them your appreciation.

For a FREE credit evaluation, contact us by visiting us at our committed offices at 6989 Alamo Downs Pkwy, San Antonio, TX 78238, or call us at 210-520-0444. For teachers interested in credit repair, don’t forget our special!

 

Tagged under: appreciation, cost, debt, student loans, teacher

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