Types of Childcare and Estimated Costs

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Types of Childcare and Estimated Costs
Childcare is a necessity for a large number of working families and single parents. Fortunately, there are many options available to meet both the needs of the family and their budget. Each option comes with advantages and disadvantages. We will provide some basic information regarding each type, as well as some guidelines in regards to estimated cost.
Childcare Centers
These are larger facilities that care for infants through school age children. They offer a variety of program options. Some childcare centers even provide transportation to and from school. Most have early learning programs.
On average, full time care for one year for an infant or a child up to four years old can range from $5,000 per year to $16,000 per year. Before and after school care for one year for a school age child ranges from $2,000 per year to $12,000 per year.
Advantages:
• Childcare centers are regulated by the government. Many states also have education and training requirements for teachers and caregivers.
• A chance for early socialization and early learning.
• Programs available to offset the cost of childcare.
Disadvantages:
• High tuition
• Limited availability. Centers are usually open on weekdays during daytime hours. Weekend, evening, and holiday care is not available.
• Illness: Children who are ill cannot attend.
Family Childcare Home
A family childcare home is a smaller center located in a family home. Childcare homes are a less expensive option for most families, and usually do not have as many children
On average, full time care for one year for an infant or a child up to four years old can range from $4,000 per year to $11,000 per year.
Advantages:
• Lower tuition
• A smaller setting with not as many children overall.
• May have more flexibility in scheduling that larger daycare centers.

Disadvantages:
• Not all Family Childcare Homes have are regulated by the state.
• Location Considerations: Does the home have a pet your child may be allergic to? What space will the children be using?
Nanny, Au Pair, or Babysitter
A nanny is an individual hired to care for the child in your home. There are a variety of arrangements for this in regards to scheduling, hours, and cost depending on the needs of the family. Families may choose to hire a nanny on their own, or they may choose to use a service.
The average hourly rate ranges from $8 per hour to $20 per hour. The number of hours a nanny works can range from 20 hours per week to 60 hours per week.

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