Wednesday, May 27, 2020

17 States Where Day Care Costs More Than College

According to the latest Care Index, a report from New America and Care.com, the average annual cost of sending a child to day care in the United States is $9,589. That's only $61 less than the cost of one year of tuition at a public in-state college, according to the College Board. The good news is that if you're used to paying bills like these now, you should have no problem redirecting that money to a 529 college savings plan once your child starts elementary school. You can invest in almost any state's 529 plan no matter where you live, but you'll want to start by checking out your home state's plans to see if they offer any tax breaks for residents. Read on to see if day care costs more than college in your state, and learn about the different 529 plans available. Virginia Average annual cost of center-based childcare: $9,665.00 See Virginia's 529 college savings plans Nevada Average annual cost of center-based childcare: $9,724.00 See Nevada's 529 college savings plans Wisconsin Average annual cost of center-based childcare: $9,743.00 See Wisconsin's 529 college savings plans Minnesota Average annual cost of center-based childcare: $10,071.00 See Minnesota's 529 college savings plans New Hampshire Average annual cost of center-based childcare: $10,182.00 See New Hampshire's 529 college savings plans Illinois Average annual cost of center-based childcare: $10,229.00 See Illinois's 529 college savings plans Maryland Average annual cost of center-based childcare: $10,344.00 See Maryland's 529 college savings plans Vermont Average annual cost of center-based childcare: $10,360.00 See Vermont's 529 college savings plans New York Average annual cost of center-based childcare: $10,519.00 See New York's 529 college savings plans New Jersey Average annual cost of center-based childcare: $10,547.00 See New Jersey's 529 college savings plans Hawaii Average annual cost of center-based childcare: $10,604.00 See Hawaii's 529 college savings plans Colorado Average annual cost of center-based childcare: $10,613.00 See Colorado's 529 college savings plans Oregon Average annual cost of center-based childcare: $11,118.00 See Oregon's 529 college savings plans Washington Average annual cost of center-based childcare: $11,348.00 See Washington's 529 college savings plans Connecticut Average annual cost of center-based childcare: $11,456.00 See Connecticut's 529 college savings plans California Average annual cost of center-based childcare: $11,479.00 See California's 529 college savings plans Massachusetts Average annual cost of center-based childcare: $13,208.00 See Massachusetts's 529 college savings plans According to the latest Care Index, a report from New America and Care.com, the average annual cost of sending a child to day care in the United States is $9,589. That's only $61 less than the cost of one year of tuition at a public in-state college, according to the College Board. The good news is that if you're used to paying bills like these now, you should have no problem redirecting that money to a 529 college savings plan once your child starts elementary school. You can invest in almost any state's 529 plan no matter where you live, but you'll want to start by checking out your home state's plans to see if they offer any tax breaks for residents. Read on to see if day care costs more than college in your state, and learn about the different 529 plans available. Virginia Average annual cost of center-based childcare: $9,665.00 See Virginia's 529 college savings plans Nevada Average annual cost of center-based childcare: $9,724.00 See Nevada's 529 college savings plans Wisconsin Average annual cost of center-based childcare: $9,743.00 See Wisconsin's 529 college savings plans Minnesota Average annual cost of center-based childcare: $10,071.00 See Minnesota's 529 college savings plans New Hampshire Average annual cost of center-based childcare: $10,182.00 See New Hampshire's 529 college savings plans Illinois Average annual cost of center-based childcare: $10,229.00 See Illinois's 529 college savings plans Maryland Average annual cost of center-based childcare: $10,344.00 See Maryland's 529 college savings plans Vermont Average annual cost of center-based childcare: $10,360.00 See Vermont's 529 college savings plans New York Average annual cost of center-based childcare: $10,519.00 See New York's 529 college savings plans New Jersey Average annual cost of center-based childcare: $10,547.00 See New Jersey's 529 college savings plans Hawaii Average annual cost of center-based childcare: $10,604.00 See Hawaii's 529 college savings plans Colorado Average annual cost of center-based childcare: $10,613.00 See Colorado's 529 college savings plans Oregon Average annual cost of center-based childcare: $11,118.00 See Oregon's 529 college savings plans Washington Average annual cost of center-based childcare: $11,348.00 See Washington's 529 college savings plans Connecticut Average annual cost of center-based childcare: $11,456.00 See Connecticut's 529 college savings plans California Average annual cost of center-based childcare: $11,479.00 See California's 529 college savings plans Massachusetts Average annual cost of center-based childcare: $13,208.00 See Massachusetts's 529 college savings plans

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