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It's well-known that college tuition fees in the U.S. are mounting, but it may be surprising that day care costs are giving university expenses a run for their money.
In fact, in almost half of the country, it's more expensive to send a toddler to day care than it is to send a teenager to college, according to new data from the Economic Policy Institute.
The EPI's research shows that the annual cost of care for a 4-year old at a full-time day care center or school is higher than the average cost of in-state tuition at a four-year institution in 23 states.
"High-quality child care is out of reach for many families," said EPI research assistant Tanyell Cooke. "This crisis is not limited to low-income families, nor is it unique to certain parts of the country. It affects everyone, in every state."
Care for a 4-year-old is 73 percent more expensive than college in Florida, the state with the largest disparity. Florida has some of the country's lowest college tuition costs but average child-care costs of $7,668 a year.
Mississippi, Alabama and Tennessee, which all have an average annual day care spending of less than $6,000, are among the top five states where day care is least expensive.
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