I have had both of my kids at a regular childcare centre, whilst I have been (and still am) studying. Its a wee bit stressful, as the uni timetables may not be released until a mere few weeks before you start, and you have to hope like crazy that daycare is available on the days you need. I have always somehow had it work out for me though. Or have tweaked my subjects around the daycare days (being a PT student it seems easier to do this).
With the holidays, you can book off a certain amount of days per year as holidays where you pay half fees for their non-attendance. Still expensive - but better than losing their place I guess?
Good luck with it all...