Child Care Costs How Much?
Many clients dream of saving enough to send their children to college. But before they can afford to send Junior to State U., they have to write some big checks to child care providers. Child care can take a bite out of the family budget, and in some cases can be more expensive than college. Child Care Aware, a group that provides resources to parents and caregivers, reported that in 30 states, child care cost more than sending a child to a four-year state college. Parents in Massachusetts are spending more on child care than in any other state – an average $16,549 per year to send an infant to a day care center. New York families pay a higher proportion of their incomes for day care than families in any other states – about 16 percent. Louisiana parents pay the lowest percentage of their incomes on day care – 7 percent.