One Year of Daycare Costs More Than One Year of College Tuition
If you're worried about saving money for your kids for college, you might want to worry about daycare first!
A new study found that in 23 states, the annual cost of full-time daycare is more than the tuition of an in-state college. You're probably wondering, "is Iowa one of those states?" You betcha!
The study estimated that the average cost of a year of full-time daycare for a 4-year-old in Iowa is $8,216. The average cost of a year of tuition? $7,839. It's not a whole lot more, but it's still a lot! That $8,216 makes up about 12.6% of a median income.
Luckily we're not living in Massachusetts, because that's where daycare is the most expensive, with an average of $12,781 a year. Ouch! Those parents are probably stoked when they can send their kids to school full-time instead!
As a person without children, I didn't realize just how much parents are paying. You have to appreciate these awesome daycare workers, though! Everybody wants their kids to be in good hands. How much did/do you pay for full-time daycare? Let us know in the comments!
[Via Wall Street Journal]