House loans. Car loans. Student loans. Now parents in New York City are eligible for a new loan to pay for daycare or preschool.
So New York residents could start piling on the debt when their kids are barely out of diapers.
A pilot program, set up by City Council speaker and mayoral candidate Christine Quinn, will give 40 families a six-percent interest rate to finance up to $11,000 a year.
Given the cost of daycare in L.A., we thought we'd ask personal finance expert, L.A. resident, and mom Liz Weston whether it might be a good idea to bring here.