{ "media_type": "text", "post_content": "Validating an idea I had: Childcare loans for working parents. The loans are given to the parents to pay for daycare/nanny/other types of childcare. As the kids grow older, the expenses for childcare drop dramatically. At that point the parents can pay off the loan with a small amount of interest. \nAffordable childcare is a pain, and the idea is to make it affordable by deferring payments over a longer horizon. \n", "post_id": "623e82cbb0dc03002c431268", "reply_count": 26, "vote_count": 4, "bowl_id": "5b0ec788cf11a800139f9490", "bowl_name": "Startups and Entrepreneurship", "feed_type": "bowl" }

Validating an idea I had: Childcare loans for working parents. The loans are given to the parents to pay for daycare/nanny/other types of childcare. As the kids grow older, the expenses for childcare drop dramatically. At that point the parents can pay off the loan with a small amount of interest.
Affordable childcare is a pain, and the idea is to make it affordable by deferring payments over a longer horizon.

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So we are starting student loans at birth now?

likefunny

It's not student loans as much as it is an opportunity for parents to get quality childcare

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I think we need to address the root of the problem, the cost of childcare, not drive families into further debt

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Other countries do this and they do it well. I have three kids, they have all done daycare, nanny shares, private schools, public schools, etc. I have been very fortunate to be able to pay for the care we desired. However, other countries are able to guarantee quality childcare for affordable prices by having it subsidized

Not sure about this one

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If only there were other countries we could look at, to see how they support new parents and provide education for children.

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Yes, some of the countries that support new parents with exceptional paid time off and/or childcare costs are: Finland, Sweden, Norway, Iceland, Denmark, UK, Ireland, France, Belgium, Estonia, Hungary, Lithuania, Canada, Australia, Singapore, South Korea.

Admirable concept, good cause. Who would underwrite those loans?

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The finance company that I start for this specific type of loan.

I can’t see any issue with this. It’s not like tuition prices at colleges went up dramatically when student loans became much easier to get

likefunny

The one glaring issue is who is going to underwrite a loan like this. At least with the structure OP is proposing.

nothing to secure this loan against, would strongly advise against even attempting this. assuming it’s your finance company that funds these loans — what’s your collateral? the child’s future? zero incentive for anyone to make payments on this loan. subsidizing a loan like this won’t work, even in america. might have better luck somewhere where the infrastructure allows this sort of loan to be beneficial to borrowers as well as yourself as a lender.

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How does this make child care more affordable?

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First you must get the child to agree to the T&C’s before forcing them down this path so they can’t argue it wasn’t their choice… a bag of M&M’s should do the trick

smartfunny

Seems like a terrible idea, throwing more money at a problem is only going to make it more expensive for everyone. That said, remember us little people when you're on your private jet to Davos to hang with Elon and the rest of your new Billionaire friends.

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Just like how the govt subsidizing traveling nurses during the pandemic just enabled the contracting companies jack up their rates

Sourcing capital for these unsecured, long-term loans will be a challenge. The interest must also be high enough to weather a significant rate of charge offs.

You must have young kids. Childcare pales in comparison to private school and college.

No way. I am sending mine to public school and doing an online college or maybe a public college.

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