Child care subsidy is a benefit that is offered by government agencies and private institutions wherein part of the cost of raising a child is covered by the benefactor. When a family receives child care subsidy, it pays less towards child care costs while the child care provider continues to receive full payment for its services. The difference in the cost is taken up by the government agency or the private entity offering the subsidy. Child care subsidy is not a new kind of program, but its popularity has been growing in the recent years. With many families requiring both parents to work fulltime, this trend is not surprising at all.
Families can avail of child care subsidy programs by applying to specific agencies. As mentioned above, these agencies may be government-backed or private. In many cases, families prefer government agencies as child care subsidy is usually higher when it comes from the government. Naturally, the requirements may be stricter and the slots fewer.
When applying for child care subsidy, you have to fill out application forms thoroughly and accurately. Usually, you will have to provide information such as how many children you have, as well as their ages. You will also be asked to provide other information such as your income – both parents combined, health history of the family members, and so on.
Child care subsidy from private organizations may come from charities or from the employer. When obtaining child care subsidy from a charity, you will probably be asked to offer volunteer hours in exchange for the subsidy. For employer-provided child care subsidy, it may be a fringe benefit extended to working moms, wherein the child care facility is situated in or near the office premises.