How Do You Find Financial Help For Day Care?
Day care expenses are a substantial portion of a household’s monthly obligation. Depending on the age and number of children in care, costs can easily get into the tens of thousands per year, according to data collected by National Association of Child Care Resource & Referral Agencies. Each state, the federal government and employers each offer programs or subsidies for day care expenses. Options include pre-tax deductions, tax credits and government subsidies. To find financial help for day care, using several resources increases the opportunity for success. Apply for state-level assistance. The Purchase of Care program provides a subsidy for families that meet the income requirements. For example, in Prince George’s County Maryland, a family of three can make no more than $2,670 monthly or $32,042 annually. The subsidy pays a licensed childcare provider a monthly payment based on your family income. Contact your local department of social services to find out about requirements for
