Report: Childcare more costly than college in Florida

Report: Childcare more costly than college in Florida

Thursday, June 9, 2016
In nearly half the states in the U.S., educating a 4-year-old in preschool costs more than in-state tuition at a four-year college, according to data in a new report from the Economic Policy Institute.
 
Topping the list for greatest disparity between childcare and college costs: Florida, where childcare for a 4-year-old is 73% more expensive than average college costs. The report was highlighted recently by the Wall Street Journal's "Real Time Economics" team.
 
Infant care in Florida, meanwhile, is almost twice as costly as college, the report says. The average annual cost of infant care in Florida is $8,694, or $725 a month. Infant care for one child would take up 16.6% of a typical family’s income. A typical family in Florida, earning $52,345 a year, would have to spend 31.3% of their income on child care for an infant and a 4-year-old. 
 
The study finds that in 40 states, the average cost of child care exceeds 10% of the median income for a family of four. The government's threshhold for "affordable" childcare is costing less than 10% of family income.
 
According to the left-leaning think tank's report, "Meaningful childcare reform that capped families’ childcare expenses at 10% of their income would expand Florida’s economy by 1.2%. That’s $10.4 billion of new economic activity."
 
To view more data on the cost of childcare in Florida in EPI's interactive online report, go here.
 
To access the full report, go here.