Peake’s mission is two prong in that we provide a program that is both high-quality and affordable. With at least 75% of our families living below the federal poverty line, affordability is more important than ever. In Virginia, on average it costs $17,000 a year for infant care and $14,000 for 3 and 4-year-old care and education. In our region it costs more for four years of child care than it does to earn a bachelor’s degree from Christopher Newport University.
How does Peake do it? First, we are eligible to accept families who access Virginia and Armed Forces child care subsidies. Peake receives 75% of the true cost of a quality program as calculated for our region by the state for the subsidy program. Peake also qualifies to participate in the state funded Mixed Delivery grant, which does pay the actual cost of a quality program. These slots are limited. Families are required to pay a copay based on income for both programs. For many, these programs are what enable parents to work while ensuring their children are in a program of their choice.
“The Mixed Delivery Grant allows me to continue working while my son Makari participates in a high-quality childcare program here at Peake. This school has been a game changer for our day-to-day stability and our future financial success.” – Carmin
Those families who do not qualify for the state funded programs are in our sliding scale tuition program. While Peake has offered a sliding scale tuition program for many years, it has launched a new scale for the upcoming school year. Our new sliding scale ensures that families pay no more than 7% of their gross income for child care. This percentage is used by the federal government for their regulatory work with states. Peake is one of very few, if not the only center in Virginia utilizing this new percentage with families.
Regardless of which affordability path is the best fit, no Peake family pays the true cost of a quality program as determined by the Virginia Department of Education. Peake receives critical financial support from individuals, corporations, small businesses, civic organizations, and churches so our children and families can engage in quality programs. It is these funds that make up the difference between what it costs to provide a high quality program and what Peake receives through the sliding scale tuition rates, state programs, and family co-payments.
