The program offers “6 percent loans of up to $11,000 to parents with children between the ages of two and four.” Approved parents have childcare payments disbursed directly to their daycare provider and “have on-going support from their financial counselor to encourage successful debt management.” Parents make interest-only payments until their children reach kindergarten age. Programs such as this help to make early learning a priority. Families are more likely to send their child to daycare or preschool if they can afford it, and the Middle Class Child Care Loan Initiative aims to make that …show more content…
The American education system has tried to keep up with the rapid changes to the way children learn and how they respond to the curriculum, but it is difficult to give the same level of education to every student across the country due to the rising income inequality. Programs like Head Start and Early Head Start, New York’s Middle Class Child Care Loan Initiative, and the Every Student Succeeds Act all aim to diminish or eliminate this gap. While the first two programs attempt to close the income achievement gap, they don’t solve many of the important problems faced by students of lower financial standing. The Head Start programs seek to address many early learning problems before children even reach kindergarten, and continue working with them until they are five years old to ensure that they are learning the skills necessary to achieve in school. Making this program more widely available to children would allow families to have peace of mind and know that their children are being conditioned to succeed. Not allowing children to utilize this program would greatly diminish the rates of success for toddlers and preschool aged