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Childcare: Is the Price Right?

Finding Affordable, Quality Daycare for Your Child

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Is the Price Right?-Finding Affordable, Quality Daycare for Your Child

Garrett Allen enrolled his 18-month-old son in a full-time daycare center after his wife passed away in 1999. It was a safe place near his home in Philadelphia, a place where his son received good care and other children's company. But after six months, the single father wanted more than just a nurturing experience for his child. So Allen did what every parent wants to do. He upgraded, despite the price tag.

"It's like putting my son in a private school," Allen says of the new center, which offers a rigorous academic environment for about $9,000 per year. The tuition alone costs nearly one-third of Allen's annual income, but to him it's worth every penny. "It's very important for my son to be provided with the building blocks that will help him in the future, even if that means I have to pay more."

Parents are spending increased portions of their incomes on daycare, which usually ranges from $4,000 to $10,000 per year.

The Cost of Care
Like Allen, American parents are spending increased portions of their incomes on daycare, which usually ranges from $4,000 to $10,000 per year. With those costs exceeding public college tuition in many cases, parents often worry they won't be able to afford the rising costs of childcare along with housing and food expenses.

But experts say parents can make quality daycare affordable by understanding the discrepancies in cost associated with the geographic regions, as well as the variety of care and services provided.


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