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Child care costs more than college


Dec. 8, 2014 CNN Money

It’s no secret that child care is expensive.

But new numbers show just how deeply it can eat into a family budget — in many cases, even deeper than what may spend on college.

The average cost of childcare is at least a quarter of the median income of single parents, according to a report Thursday from Child Care Aware, a group that provides resources to parents and caregivers.

And families at the poverty line, can spend as much as 85% of their income on care.

Parents in Massachusetts are spending more on childcare than in any other state. On average, Bay State families are paying $16,549 per year to send an infant to a center for care. That’s about 15% of the median income for a two-parent family.

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