A recently published study from LendingTree showed that the cost of raising a child in the U.S. jumped nearly 20% between 2016 and 2021.
Sat, April 27th 2024 at 10:54 AMUNDATED - Inflation has led to just about everything in the United States becoming more expensive, and the cost of raising a child is no stranger to these increases.
Based on these figures, families are now spending on average about $237,482 over the course of 18 years. This figure doesn't include the cost of college either. $24 billion in emergency funding was recently allocated by Congress to help keep child care providers above water. It was part of the American Rescue Plan that passed in 2021. But, this program expired at the end of last September. It has since left many child care providers in a tough spot. Experts have already warned that without this extra funding, the industry could see tuition hikes, layoffs, and closures.
Cost Inflation Lendingtree Expenses Study United States Funding
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