The Cost of Adoption: Finance Alternatives

When it comes to adoption, finance isn’t the first word you think of. However, many adoptive parents soon realize that bringing a child into their lives through adoption can require a significant financial investment. The good news is that adoption finance issues can be made easier through a variety of sources. An adoption can be entirely self-funded. Many adoptive parents conduct local fundraisers to help with fees. Here are some other options and considerations:

  • Federal and State Assistance: When it comes to your adoption, financial help and time off can come from the government.
  • Federal Adoption Tax Credit
  • Family Medical and Leave Act
  • State Tax Credit
  • Employer Adoption Benefits: Many employers will assist with adoption finances.
  • Military Subsidies: Active-duty personnel may be reimbursed for one-time adoption costs up to $2,000 per child.
  • Adoption Loans: For adoption finance, there are a variety of loans available. Home equity loans, borrowing against insurance policies and 401k’s are also possible.
  • Private Grants: The National Adoption Foundation can help you with information about grants for needy families.
  • Private Scholarships and Funds: There are a variety of private institutions and non-profits that offer adoption finance assistance. We encourage you to search the internet for the scholarships you may qualify for.

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