There’s no sense beating around the bush: childcare is expensive.
In some ways, the expense of childcare can help you weed out options that are not suitable for your child. For instance, if a nanny charges less than the average rate, this isn’t necessarily a good thing. Cheap childcare services can put your child at risk for neglect or abuse because the price is favorable to the parents. Above all else, children should be in protected environments where they can be safe to learn and grow.
Thus, it should be a good thing that childcare costs a reasonable price. It indicates that the business has attracted responsible, educated employees who will care for the children in their classrooms.
However, that doesn’t diminish the fact that childcare can be expensive. Luckily, there are several financial assistance programs that can offset the cost of quality childcare.
- Dependent Care Account: Some employers offer a Flexible Spending Account (FSA) where you can set aside up to $5,000 to be tax-free.
- State Funds: The federal government has programs for each state that assist families with childcare for children under the age of 13.
- Child Tax Credit: While this isn’t direct funds for childcare, you can put your child tax credit refunds towards daycare costs.
- Child Care Assistance Program (CCAP): This program for the state of Kentucky helps qualifying families get financial assistance for childcare costs.
With one or more of these financial assistance options, quality childcare is affordable for all!
If you’re looking to give your child a head start in school, contact Children’s Academy Childcare and Preschool today!