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




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.
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.
Maya Sugarman/KPCC

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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.