Parents are going all-in to keep their kids in sports, but at what cost?
Expectations are becoming a significant factor, often to unsuspecting children whose parents are doling out thousands of dollars for sports with the expectation a scholarship or even a professional contract will be the ultimate reward.
New York Life Insurance released the results of a poll portraying that very trend on Tuesday.
Parents of children who are youth sports participants in the United States between ages 7-18 were questioned in the poll about the motive for paying an average of $3,000 for kids to play sports. The overwhelming majority — 83 percent — of poll participants said their child had the skills to play college sports, and 49 percent felt their child was worthy of an athletic scholarship.
In reality, less than 7 percent of high school athletes play college sports.
“Many families are counting on athletic scholarships to ease the cost of college, yet those opportunities are limited and uncertain, especially in the face of injury or shifting priorities,” said Jessica Ruggles, corporate vice president of financial wellness at New York Life, in a statement about the company’s Wealth Watch survey findings.
Top-line baseball and softball bats retail for $350 to $500, cleats are in the $100 range and that’s all before the travel team fees are assessed. Some summer travel baseball and softball programs are charging thousands for players on the roster. Most times, the actual cost of traveling to and from events — which can be out of state or time zones away — are not covered in that total.
“Our research suggests that parents are deeply committed to supporting their children’s athletic potential — not just for the joy of sport, but as a pathway to higher education and future success,” Ruggles said.
Most youth athletes are participating in one to three sports, according to parents questioned for the survey. Those young athletes are spending 10-15 hours per week in practices, games and skill development, and parents — 99 percent of the participants in this case — are heavily involved in scheduling, transportation, attending practices and going to games and tournaments.
“Young athletes learn discipline, perseverance, and the value of investing in themselves. These are the same character strengths that prepare them for challenges far beyond the field or court,” Ruggles said. “But the pursuit of athletic goals can also place a real financial and emotional strain on families. As parents make meaningful sacrifices to nurture their children’s passions, it’s essential to prioritize both performance and well-being.”
AAU basketball for boys and girls has an extreme price tag of up to $4,000 before the cost of uniforms, the latest footwear, hotels at travel destinations and the cost of getting there — for players and parents. Single-day attendance at host facilities varies, but can be as high as $40 per person with parking fees often associated as a separate charge.
AAU programs can be connected to footwear sponsors with pipelines to major college basketball opportunities. But in a sport the NCAA said featured a combined 540,000 male and female participants last year, only 1 percent will play Division I basketball. Just 1.5 percent move on to play Division III basketball.
Ruggles revealed the poll also showed around 75 percent of parents questioned said their child had the skills to play professional sports.
Twenty percent of parents said they were forced to remove their child from the sport and team of their choice because of the cost while already dealing with everyday budget constraints. Another 76 percent replied in the survey that they were actively cutting costs or sacrificing in other areas to allow their children to play on a travel team or even multiple teams.
–Field Level Media
