(Marketwatch) While the astronomical (and rising) cost of college seems to garner all the media attention, it's the cost of child care that should be more worrying for many parents.
Nearly 11 million children under the age of five require child care at least weekly and spend an average of 36 hours a week in child care — and for the parents footing the bill, this can make a serious dent in their finances.
In roughly half the states in this country, child care costs more than college, according to a report released this year by the Economic Policy Institute, a nonprofit, nonpartisan think tank focused on conducting research around the economic status of working Americans. Indeed, in 24 states and Washington, D.C., the average cost to care for a four-year-old for one year exceeds the cost of tuition for a year at a public, in-state four-year college. And in 33 states and Washington, D.C., the average cost to care for an infant for a year exceeds the cost of tuition for a year at a public, in-state four-year college.
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