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Buy now pay later child care offered.

SYDNEY -- A buy now pay later scheme is being offered by ABC Learning, Australia's biggest chain of private child care centres. ABC is offering finance to lend parents up to $4,000 for each child, equivalent to the maximum value of the Federal Government's 30 per cent child care rebate. This rebate will not be paid until after parents have completed tax returns for the 2005-06 year. The arrangement gives them 14 months interest-free to pay back the loan by September 2006, after which interest charges will apply. A prime-time television advertising campaign is promoting the deal to parents.

Child care fees have risen. After the Industrial Relations Commission raised wages for child care workers, fees rose between 25 per cent and 45 per cent this year.
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Title Annotation:CHILD & FAMILY
Publication:Community Action
Date:Aug 22, 2005
Words:127
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