https://boards.hellobee.com/ Pregnancy, Baby and Parenting blog, by Hellobee en Fri, 10 Apr 2026 19:13:46 +0000 https://boards.hellobee.com/topic/nyc-to-offer-childcare-loans-to-middle-income-families#post-998475 Thu, 08 Aug 2013 08:08:12 +0000 Modern Daisy 998475@https://boards.hellobee.com/ <p>We don't qualify, but I wouldn't want to take out a loan for childcare! It would only be a last resort if we were in the red and had no means to pay for it, in which case we probably wouldn't qualify for other reasons.. </p> https://boards.hellobee.com/topic/nyc-to-offer-childcare-loans-to-middle-income-families#post-998452 Thu, 08 Aug 2013 07:58:53 +0000 mrsjazz 998452@https://boards.hellobee.com/ <p>@Pirouette: I also think she's trying to get the middle class vote.@zippylef: She's running for mayor. Polls had her behind Anthony Weiner before his latest scandal but now she's in the lead. </p> https://boards.hellobee.com/topic/nyc-to-offer-childcare-loans-to-middle-income-families#post-998431 Thu, 08 Aug 2013 07:48:27 +0000 Dandelion 998431@https://boards.hellobee.com/ <p>No...I'm not in NY, but it sounds like a bad idea. I wouldn't encourage anyone to add to their debt. it would cost me more in the long run and I'd rather not get a loan from the government. </p> https://boards.hellobee.com/topic/nyc-to-offer-childcare-loans-to-middle-income-families#post-998427 Thu, 08 Aug 2013 07:46:07 +0000 loveisstrange 998427@https://boards.hellobee.com/ <p>@Pirouette: Haha, you're probably right. I don't know who she is at all, but I'm generally pretty cynical too. </p> https://boards.hellobee.com/topic/nyc-to-offer-childcare-loans-to-middle-income-families#post-998381 Thu, 08 Aug 2013 07:21:51 +0000 Pirouette 998381@https://boards.hellobee.com/ <p>Ha I am not sure her heart is in the right place at all! The timing of this proposal coupled with the fact that it's a loan at high interest makes me think this is just an attempt to garner middle class votes and that she's counting on people not paying attention to the details ;). But I'm cynical and not a Quinn fan haha. </p> https://boards.hellobee.com/topic/nyc-to-offer-childcare-loans-to-middle-income-families#post-998171 Thu, 08 Aug 2013 02:27:14 +0000 loveisstrange 998171@https://boards.hellobee.com/ <p>I think when people have to take out a loan to be able to afford childcare, something needs to be done aout the cost of said childcare.</p> <p>I guess her hearts in the right spot butmits kind of a terrible idea. </p> https://boards.hellobee.com/topic/nyc-to-offer-childcare-loans-to-middle-income-families#post-998109 Thu, 08 Aug 2013 01:12:23 +0000 HLK208 998109@https://boards.hellobee.com/ <p>I don't think this is a good plan at all. @MamaMoose: I agree that it would seem fine if the patent was attending school and had potential to earn more but otherwise, more debt isn't what our society needs. </p> https://boards.hellobee.com/topic/nyc-to-offer-childcare-loans-to-middle-income-families#post-998039 Wed, 07 Aug 2013 23:47:40 +0000 CupQuakeWalk 998039@https://boards.hellobee.com/ <p>Just...no...6% loan...no. </p> https://boards.hellobee.com/topic/nyc-to-offer-childcare-loans-to-middle-income-families#post-998005 Wed, 07 Aug 2013 22:56:25 +0000 mjane 998005@https://boards.hellobee.com/ <p>Ugh, Christine Quinn. This seems like a grim turn... Just sort of giving institutional approval to lack of affordable and quality options. She is not getting my vote either. </p> https://boards.hellobee.com/topic/nyc-to-offer-childcare-loans-to-middle-income-families#post-997832 Wed, 07 Aug 2013 20:58:03 +0000 mrsjazz 997832@https://boards.hellobee.com/ <p>@Mrs. Jacks: I would be the first in line if these were grants! </p> <p>If I had no debt, I might think about doing this, but unfortunately I have lots of student loans to pay off and am not taking on any more debt unless it's for a home. </p> https://boards.hellobee.com/topic/nyc-to-offer-childcare-loans-to-middle-income-families#post-997787 Wed, 07 Aug 2013 20:36:54 +0000 yoursilverlining 997787@https://boards.hellobee.com/ <p>I don't think it's necessary a way into more debt. How often do we see on here women who quit working because they don't take home much more than daycare - if they could continue to work, over the course of the 3-4 years they might otherwise be out of work, they should reasonably expect to move ahead in their careers, and make more money than if they took time out (even if just from COLA increases). And if you could spread that cost out over, say, the time the kid was in elementary school, I could see how many families would end up ahead continuing with two incomes. </p> <p>6% is what my credit union offers for personal loans (non-auto/home) so that seems fairly reasonable to me. Could be lower. </p> https://boards.hellobee.com/topic/nyc-to-offer-childcare-loans-to-middle-income-families#post-997742 Wed, 07 Aug 2013 20:21:53 +0000 T.H.O.U. 997742@https://boards.hellobee.com/ <p>I don't know. I think it may be a good way to help moms keep their careers going which in the long term helps families. </p> https://boards.hellobee.com/topic/nyc-to-offer-childcare-loans-to-middle-income-families#post-997739 Wed, 07 Aug 2013 20:20:54 +0000 Mrs. Jacks 997739@https://boards.hellobee.com/ <p>Unless someone was a medical resident and about to become an attending in a lucrative sub specialty, I don't see how this is a bridge out of debt but rather deeper in.</p> <p>Now if these were grants, that would really be something! </p> https://boards.hellobee.com/topic/nyc-to-offer-childcare-loans-to-middle-income-families#post-997720 Wed, 07 Aug 2013 20:14:54 +0000 Mrs. Pen 997720@https://boards.hellobee.com/ <p>@MamaMoose: I agree. It sounds like a way for people to accumulate debt and live beyond their means. </p> https://boards.hellobee.com/topic/nyc-to-offer-childcare-loans-to-middle-income-families#post-997672 Wed, 07 Aug 2013 19:54:50 +0000 mrsjazz 997672@https://boards.hellobee.com/ <p>@MamaMoose: @Foodnerd81: When DH and I first heard the teaser we were excited and then they said loan and we both said forget that. </p> <p>The second article I linked to talked about the upper bracket of the income limit: "Ostensibly, rather than making the difference between sending a child to preschool or keeping him at home, such loans might be used more to help the middle class’s upper crust pay for elite preschools, putting more distance between very young children in a city that is already plagued by income inequality and where competition for gifted and talented slots is incredibly fierce and many would argue, unfair, given the intense coaching and drilling engaged in by families who can afford it. Families making $200,000 a year are unlikely to forgo pre-school because of financial considerations; a subsidized loan will simply make them able to afford the kind of top tier pre-school that lower-income children getting subsidized childcare will never be able to attend." </p> https://boards.hellobee.com/topic/nyc-to-offer-childcare-loans-to-middle-income-families#post-997664 Wed, 07 Aug 2013 19:49:40 +0000 Foodnerd81 997664@https://boards.hellobee.com/ <p>@MamaMoose: I agree- its seems like this is just going to dig families into a deeper whole. I can't figure out a situation where it would be that helpful and I've been thinking about it dice I saw this yesterday on the news. Can someone enlighten me? </p> https://boards.hellobee.com/topic/nyc-to-offer-childcare-loans-to-middle-income-families#post-997650 Wed, 07 Aug 2013 19:41:09 +0000 MamaMoose 997650@https://boards.hellobee.com/ <p>Hmm. I'm not sure what I think about this. Six percent is quite high in the current interest rate environment so I'm not sure how much of a favor she's really doing these families. I guess I could understand a child care loan for some who is in school getting a masters degree or something similar where they were increasing their earnings potential. But for some who is working full at a job where the don't expect to move up soon I think these loans will just get then deeper and deeper into a bad hole. </p> https://boards.hellobee.com/topic/nyc-to-offer-childcare-loans-to-middle-income-families#post-997635 Wed, 07 Aug 2013 19:30:09 +0000 mrsjazz 997635@https://boards.hellobee.com/ <p>I just saw this on the news. Christine Quinn is launching the Middle Class Child Care Loan Initiative which will offer families loans of 11k at a 6% interest rate to send their 2-4 year-old children to day care. To qualify families have to make between $80-200k and have a credit score of at least 620. The pilot program will start with 40 families.</p> <p>DH and I would qualify for this, but we wouldn't take out a loan for child care. I do like that Speaker Quinn is trying to do something for middle class families (though she's still not getting my vote!).</p> <p><a href="http://money.cnn.com/2013/08/05/news/economy/day-care-loans/index.html" rel="nofollow">http://money.cnn.com/2013/08/05/news/economy/day-care-loans/index.html</a></p> <p><a href="http://observer.com/2013/08/should-upper-middle-class-tots-get-subsidized-student-loans-for-pre-school/" rel="nofollow">http://observer.com/2013/08/should-upper-middle-class-tots-get-subsidized-student-loans-for-pre-school/</a> </p>