(NewsNation) — With the cost of raising a child nearing $300,000, many parents are rethinking just how many kids they can afford.

According to a recent LendingTree survey, almost half (46%) of parents with young children said they have fewer kids due to financial constraints. And 77% said raising children has been far more expensive than they expected.

Those challenges aren’t imagined. Over the past two years, the annual cost of raising a small child has surged from $21,681 to $29,419 — a 36% jump, LendingTree found. Much of that increase is due to skyrocketing day care costs, which rose more than 50% over the same period.

Parents in the U.S. can now expect to spend $297,674 raising a child to adulthood — and financial support often doesn’t end there. A recent Savings.com report found that half of all parents are providing regular financial assistance to their adult children.

Perhaps most alarming, about two-thirds (64%) of parents surveyed by LendingTree said they have gone into debt to make ends meet for their kids. Financial strain appears to be a key reason Americans are having fewer children.

Recent CDC data shows that the U.S. fertility rate remained near a record low in 2024, continuing a yearslong trend that has alarmed demographers and drawn the attention of the Trump administration.

Now, Trump is reportedly considering a $5,000 cash “baby bonus” for new mothers. Another proposal, according to The New York Times, would reserve 30% of scholarships in the prestigious Fulbright program for applicants who are married or have children.

When asked which factors would make raising kids easier, most parents (52%) said “more financial resources,” followed by 39% who want workplace flexibility like paid leave and remote work, according to LendingTree. Some 28% said affordable child care would make raising kids easier.

LendingTree’s findings come from an online survey of 630 parents with kids younger than 18. The poll was conducted from March 4 to 6, 2025.