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The Boston Globe



A mortgage for the future

Some New York parents are taking out loans to pay for day care. We need that option, too.

Every month my husband and I steel our resolve: Time to write the day-care check. And we’re not alone in feeling the pinch. According to a 2012 report by Child Care Aware of America, Massachusetts has the costliest child-care centers in the country. Full-time care here averages $15,000 annually for infants and $11,000 for 4-year-olds. That’s more than yearly tuition at many public colleges.

It’s no wonder then that lots of people make the financial decision to quit their jobs and become stay-at-home parents. “I love my job, but it doesn’t make sense for me to continue to work,” a parent expecting twins observed online recently.

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