COLLEGE SAVINGS 101

Savingforcollege.com

17 states where day care costs more than college
http://www.savingforcollege.com/articles/17-states-where-day-care-costs-more-than-college-989

Posted: 2016-10-27

by Kathryn Flynn

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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