BOSTON — Parents, you probably already knew this.
It now costs more money to educate children under 5 than to earn a college degree in Massachusetts, according to a new report from the Economic Policy Institute.
Massachusetts is ranked second out of 50 states and the District of Columbia for most expensive infant care.
The average annual cost of infant care in the Bay State is $17,062, or $1,422 per month. It costs parents $6,360 (59.4 percent) more per year than in-state tuition for a four-year public college.
The Economic Policy Institute ran the numbers and found that infant care for one child would take up 19.5 percent of a typical family’s income in Massachusetts.
It gets cheaper as children get older, but not by much. Child care for a 4-year-old costs $12,781, or $1,065 each month.
How do other states stack up? Click here to see the full findings, sorted by state.
Cox Media Group
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