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Most people I know have financed their adoption through a home-equity loan or by saving. If you do foster-adopt through the state, your cost will be minimal, but otherwise, it can be costly. The good thing is that the bulk of the money will be due upon placement in most cases. The year you finalize your adoption, you can claim the adoption tax credit, which is over $11,000 if you qualify for the full amount. Some employers offer adoption assistance, including the military.
A single woman that I worked with asked for donations and made and sold baked goods at work for some of it. It seemed a bit strange, but she ended up finding a twin stroller at a garage sale before she left for the Ukraine and took it as a sign to get two!
Most people I know have financed their adoption through a home-equity loan or by saving. If you do foster-adopt through the state, your cost will be minimal, but otherwise, it can be costly. The good thing is that the bulk of the money will be due upon placement in most cases. The year you finalize your adoption, you can claim the adoption tax credit, which is over $11,000 if you qualify for the full amount. Some employers offer adoption assistance, including the military.
This is all pretty accurate according to the info DH & I were gathering when we thought we were going the adoption route.
Adoption through the state is minimal. In SoCal, our caseworker told us $500 but even that might be waived.
Private adoptions can cost quite a bit more - upwards of 30k - so the tax credit and employer adoption assistance are extremely helpful.
I was so concerned when I started the process I found all the resources I could and combined them on an easy to read page.
[url=http://www.adoptive-parenting.com]Adoptive Parenting the Joy of being a Family with your Adopted Infant or Child[/url]
go to affording adoption.
Best wishes
We have been saving for almost 2 years. My husband also finished a few basements and wired a few houses. Whenever we got money (gifts, refunds) unexpectedly it went into our adoption fund. By the time it all needs to be paid for, we will have most of it. However, the travel will be very expensive, we plan on taking $$ out when we re-fi for that. (I don't want to take re-fi $$ out for anything other than home improvement, but adding to our family definately trumps staying out of debt)
I am curious if anyone out there has adopted, what type of help is avaiable in covering the costs? Thanks in advance for answers!
Don't mean to step on your toes here but if you can't afford to adopt a child without "available help" how are you going to afford to raise one? A child is a serious commitment and cost. All of us are not guaranteed a parenthood honor unfortunately by natural birth. Thank God there are parents that give up their parental rights of their child so they can be adopted.
Here is another thing that blows my mind when people adopt out of country! Why when there are plenty of children in the USA just dying to have a forever home? Is it because most people want an infant? How selfish is that?
Just wondering because this topic comes up a lot here and in the real world I just don't understand please explain it to me. Thank you.
Having a child through natural or biological means does not cost $10-30k upfront, so why would you ask how someone can afford to raise a child if they can't cover adoption costs? That's pretty hateful.
Last edited by sskkc; 02-18-2008 at 09:23 AM..
Reason: clarification
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adoptive-parenting Funding Resources
Is it because most people want an infant? How selfish is that? 
