help with daycare costs

How To Get Help Paying for Daycare If You Can’t Afford It

Nearly 60% of American parents rely on daycare — and that care has become increasingly expensive.

How expensive? More than half of working families say their annual childcare costs exceed $10,000. Discover options to help with daycare expenses, including getting an installment loan.

Solutions For Help Paying For Daycare

It’s no wonder then that many parents look for help paying for daycare. Here’s where they may be able to find it.

Consider Family Childcare

Family childcare, typically held at a private home and overseen by usually one or two people has been consistently more affordable than business center-based daycare for the past few years.

Look around town or get recommendations from fellow parents to see if there are viable options for family childcare. 

Or Reach Out To Your Own Family

Many parents get help with daycare costs by looking close to home. Grandparents or parents who are nearby and have the time often step in to offer daycare at their homes — usually at low or no cost.

Even just a few days a week of family care to offset the cost of two days at a daycare business can go a long way.

Look Into Local Assistance Programs 

Many communities across the United States offer programs that target in-need families with daycare assistance. Many local governments sponsor childcare with reduced rates that follow a sliding scale dependent on family income. 

Or Try Government Programs

State and federal governments regularly offer either rate assistance or vouchers for those who need help paying for childcare. You can check on what your state offers at also offers information on federal help through the childcare division of the U.S. Department of Health and Human Services. Most of the subsidies come with a few requirements, including residency, employment, and income levels.

Another popular government assistance program for those in need of help paying for daycare is Early Head Start and Head Start. Children up to 5 years old can benefit from these programs that help with daycare assistance, but also nutritional and mental health needs. 

Many states also fund pre-kindergarten for children between 3 and 5 years old, and many of the services are free or offered at a low cost for parents. 

baby sleeping with text that reads help paying for daycare

Try A Co-Op Or Shared Nanny

Parents are increasingly relying on each other for help paying for childcare. Through shared childcare, parents usually rotate between turns caring for a group of children.

The best part is that these co-op arrangements are usually free; your time caring for the group of children is offset by not paying for the childcare services provided by the other parents.

Through nanny share programs, two or three families will split the cost of one nanny, who either splits time between homes or watches the children all at once in one house. 

Explore Tax Credits

If your family meets specific requirements, tax credits may be a good approach to get help with daycare expenses. For example, child and dependent care tax credit is available for those who were working or looking for employment and had to pay for daycare for children at the same time.

Moderate- and low-income workers can also get a tax break through the earned income tax credit, likely increasing refunds and thus the cash available to pay for daycare. 

Talk To Your Employer 

A growing number of employers are flexible with work arrangements, even letting employees work entirely from home or split time at home and at a business through a hybrid schedule.

But some companies go a bit further, providing daycare on-site, paying for offsite daycare or summer camps or even letting employees take their children to work or on business trips. See what your employer can do for you — you may be surprised. 

Consider An Installment Loan

If you don’t qualify for some of the above ways to get help paying for daycare, one option is an installment loan. With this type of loan, you receive a short-term loan paid off over time in set amounts, or installments.

Installment loans are easy to qualify for and those who are approved at Carolina Title Loans, Inc. could receive up to $1,500 as early as the same day they start the loan process

We make the loan process easy as well. To get started, simply submit the online inquiry form on our website and a Carolina Title Loans, Inc. representative will give you a call to answer any loan questions you have and walk you through the rest of the quick steps to financial help.

Try Installment Loans Today 

For many working families, daycare is a necessity and one that can be challenging to cover financially. If you need help paying for daycare, an installment loan is an option for assistance. Either start online, give us a call, or visit a Carolina Title Loans, Inc. location near you today.

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.

Emma Frost

Emma Frost is a lifestyle and finance blogger with a talent for communication and a passion for financial literacy. She uses her writing talents to explore topics that help her readers gain financial stability and growth.