Study finds college tuition costs less than infant care in Florida
TAMPA (FOX 13) - Some families spend more money on infant childcare than others spend on college tuition, a new study has found.
The Economic Policy Institute released the information in a new report called, "It's Time for An Ambitious National Investment in America's Children: Investments in Early Childhood Care and Education would have enormous benefits for children, families, society and the economy."
According to the report, infant child care is more expensive than in-state college tuition in 33 states and the District of Columbia. This includes Florida where infant childcare averages about $725 per month.
A closer look at the numbers in the state Florida from the Economic Policy institute:
- Average cost of tuition for a 4-year public college: $4,423/year
- Average cost of infant childcare: $8,694/year ($725/month)
- Average cost of childcare for a 4 y.o. child $7,668/year ($639/month)
In Florida, minimum wage workers would have to work full time (27 weeks) from January to July to pay childcare costs for one infant, the study found.
According to the U.S. Department of Health and Human Services, if childcare is no more than 10 percent of a family's income it is considered affordable.
The median family income in Florida is $52,345, meaning infant childcare accounts for 16.6 percent of the total.
The burden is greater for families with two children or more.