Parents Paying As Much For Childcare As They Are For College: Report
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PHILADELPHIA (CBS) — A new report says parents are paying as much for childcare as they are for college.
Annual childcare costs exceed $20,000 in 22 states, including Pennsylvania and New Jersey.
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A regional comparison by ChildCare Aware, an advocacy group that works to provide resources for families, shows that childcare is actually more expensive than housing in the Midwest, nearly equal in the South, and most expensive in the Northeast. It was still only fractionally cheaper in the West.
"Families are unable to find or afford high-quality childcare; those who can find care spend too much of their income on it," says ChildCare Aware.
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Parents pay the most in Massachusetts at more than $34,000 dollars.
The report also found that nationally, the average childcare fees for an infant in a childcare center are more than the average amount that families spend on food and transportation combined.
