5 Ways To Help You Afford Adoption

Often times, if you ask someone who is interested in pursuing adoption why they haven’t taken the plunge yet, their answer is “well, we just don’t have the money.” Adoption is expensive! No adoptive parent will tell you otherwise. We’ve all scrounged and saved and prayed our way through each fee and update and know the heartache that can occur if we just don’t quite have it all in time. But, we’ve all survived and come out with cute kids on the other side. There is hope at the end of a seemingly dark financial tunnel. If you are interested in adoption, or have already begun your journey, take heart! Here are five ways that can help propel you into your way to afford adoption.

  1. Grants

There are tons of grants out there on the internet, and many can have a huge impact on your fee schedule. Each one has multiple stipulations and restrictions, so you have to make sure to read each one thoroughly. Some are geared towards Christian families, some are designed for single mothers, while others are aimed to assist those adopting children with diagnosed special needs. Many grants will not allow you to apply for them until after you have completed a home study, while others cannot be applied for until you have a match. Some meet quarterly, while others meet once a month, and these meet times can affect when you would receive payment. Many grants have very similar, and extremely lengthy, applications, so once you apply for one, you should be able to apply for the next one more quickly. You probably won’t fund your entire adoption through grants–depending on which ones you actually qualify for, you’ll still be one applicant amongst many. But, you can hopefully count on a couple of grant checks coming your way!

  1. Loans

There are multiple loan options available to prospective adoptive families, and many of these options have saved adoptions around the globe. There are many loan options out there, similar to the variety of grant options available, and they’re all designed to assist a different demographic–some are geared toward those adopting older children, while others are for those with nearly perfect credit. When you find one that’s right for you and your family, a loan can help bridge that gap between your bank account and a fee deadline. Loan applications are similar to grant applications in terms of length and detail, so have your financial information at the ready.

  1. Tax Credit 

The tax credit can be an amazing blessing to adoptive parents. Once your adoption is complete, and if you have qualified adoption expenses, you are eligible to receive the tax credit. It can be up to $13,570 per eligible child for past expenses. This credit can not only help to pay for doctor fees and therapy appointments, but you can use it strategically to pay off your adoption loans. It can be a wonderful way to help pay off the debt you occurred only months before.

  1. Fundraise

Fundraising may seem like an insane endeavor to many, but it has saved countless adoptions. Though tireless and exhausting, it can not only help your adoption become fully funded (or at least well on its way), it can help you acquire a large supportive village to be there when you bring your new child home. There are so many fundraising options out there–from selling tangible items through supportive organizations (soap, coffee, flower bulbs), selling things that you or those you know have made, hosting silent auctions, spaghetti dinners, and yard sales, or hosting fundraising goal promotions (puzzle or envelope fundraiser). There are so many avenues to go, and so many successful ways to host. Whether you go through your church or local restaurant, or do it primarily online through a blog and social media, you just have to find how you can reach the most amount of people for your cause. It’s a beautiful thing to see people rally up behind another to better the orphan crisis.

  1. Save, Save, Save

Unfortunately, grants, loans, and fundraising don’t always cut it. No matter how many different yard sales you host, or how many grants you apply for, you may still be a little short. In these situations, families have to save as much as they can while they wait. When saving, people have cut luxuries like cable and going out to eat, have gotten second or third jobs, or have rearranged their finances to tighten up their purse strings and be smarter about where their money is going. It’s not a very fun way to pay for an adoption, but it’s a reasonable way to meet those needs.

There are multiple ways to help you afford adoption, and they are all lucrative avenues. None are easy, but with enough elbow grease and will power, you can definitely fully fund your adoption. There is hope at the end of the fee schedule tunnel, so don’t lose sight of why you’ve begun your journey. Each baked good you sell, each job you acquire, and each application you fill out is getting you one step closer to bringing your child home.