Childcare costs more than college tuition

Tribune News Service on March 8 cited the analysis results of the Economic Policy Institute (EPI) saying that the cost of child care now exceeds college tuition in 38 states and the US capital Washington, DC, an increase of 5 states compared to the previous survey.

An analysis by the Economic Policy Institute (EPI) found that child care costs now exceed college tuition in 38 states and Washington, DC. (Source: Getty)

EPI used 2023 federal and nonprofit data to compare monthly child care costs to public college tuition, said EPI spokesman Nick Kauzlarich. EPI’s previous study, based on 2020 data, found that child care costs were higher than college tuition in 33 states and Washington, D.C.

According to the analysis, child care costs in Mississippi average $521 per month, while in Washington, DC, it can cost as much as $1,893 per month for a family with a 4-year-old. California, the largest state in the country, has the fourth highest child care costs in the country, with the average cost of child care for a baby being $1,829 per month ($21,945 per year), while the cost for a 4-year-old is $1,085 per month ($13,020 per year).

EPI also found that child care costs more than housing costs in 17 states and Washington, D.C. EPI leaders stressed that working-class families in the United States, especially low-income families (including those who work as babysitters), cannot afford to send their children to day care.

EPI researcher Katherine deCourcy says this is not a given, but a problem that can be solved through policy. Federal and state policymakers have the power and responsibility to take action to reduce child care costs while ensuring that caregivers have enough income to care for their children.

EPI gives the example of New Mexico, where the average cost of infant care is nearly $1,200 per month (more than $14,000 per year), while the cost of caring for a 4-year-old child is more than $800 per month (nearly $10,000 per year).

While housing costs are often considered the largest household expense, research shows that child care costs in New Mexico are about 10% higher than rent. About 90% of residents in the state cannot afford child care costs, which the federal government defines as no more than 7% of a family's gross income.

Advocates are calling on the U.S. government to make preschool universal, providing free, high-quality child care. EPI notes that in 2022, New Mexico voters passed an amendment guaranteeing children the right toeducation .

New Mexico spends about $150 million a year subsidizing child care programs, an important step toward keeping child care affordable, but similar investments are needed across the country, EPI said.

Source: https://baoquocte.vn/dieu-kho-tin-tai-my-chi-phi-giu-tre-con-cao-hon-ca-hoc-phi-dai-hoc-306956.html