News Update

84% of parents are overwhelmed by cost of child care, survey shows

Eighty-four percent of parents feel overwhelmed by the high cost of child care, according to a new survey from the Penny Hoarder. 

As Biden’s social safety net bill makes its way through Congress, American families continue to struggle with child care while making ends meet. The survey also showed that 40% of parents have gone into debt over the costs of child care, almost 38% of parents have had to take on a second job to pay for care and almost 28% of parents say they’ve had to choose between paying for child care or paying their rent.

“Working families across the country pay a significant percentage of their annual earnings to cover the price of child care,” said Mario Cardona, chief of policy and practice for Child Care Aware of America, a national child care advocacy organization, as the Penny Hoarder cited. 

The personal finance website surveyed 2,000 parents in September about how child care impacts their lives. Despite extra financial support in the form of pandemic stimulus checks and child tax credits this year, researchers noted, a large majority of families felt overburdened.