Take Two for August 8, 2013

New York now offers daycare loans for parents. Could it work in LA?

Teen Head Start - 1

Maya Sugarman/KPCC

Roger Razo, 18, and his two-year-old son, Andrew, say goodbye after spending time at his daycare at North Park High School on Friday, March 8.

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. 
 


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