Adoption Financing | Financial Assistance for Adoption Expenses

How Much Does Adoption Cost?

The cost of adoption depends on the type of adoption you pursue. Private adoption costs can range from $30,000 to $60,000.

Expenses may include:

• Home Study: including background, financial, home, and medical checks
• Attorney Fees to prepare and file documents and for final adoption hearing
• Pregnancy Related Expenses: Such as medical, transportation to doctor and other pregnancy related expenses
• Travel Expenses: if your baby’s birth isn’t local
• Other Expenses

Financial planning for adoption is crucial for your family’s safety. Please review the terms of your contract with your agency to understand which costs you’ll be responsible for.

Adoption Financing Options

Adoption Loans

Many financial institutions and organizations offer adoption loans, but not all are equal. Do your research, compare terms and rates, and consider your circumstances. Loan comparison sites can help you narrow down your options. Be sure to choose a loan with conditions, terms, and a payment schedule that work for you.

Other loan options include a home equity loan, a whole life insurance loan, or even a loan from a 401k. Only take out loans that you’ll be able to repay, either through financial assistance or a long-term payment plan.

Adoption Grants

Adoption grants are incredibly popular because they involve no personal cost and carry no interest, unlike other financing options. Grants are free money for adoption that do not require repayment. This makes grants a risk-free option to pay some or all of your adoption costs. If necessary, you can pair grants with loans to make your adoption possible.

Common challenges with adoption grants include an extensive application process, fierce competition, and a long waiting period. The charity organizations providing funds usually have limited budgets. Because of this, you should apply for grants early, and don’t count on them to cover all your costs.

Adoption Crowdfunding

Crowdfunding is an excellent way for your friends and family to support your adoption journey. You’ll create a campaign at a site like AdoptTogether, Adoption Bridge, GiveSendGo, or GoFundMe. Include your adoption story and fundraiser goals and make the most of the crowdfunding site’s suite of marketing tools! You can have the funds go directly to your adoption agency so that all donations are tax-deductible.

Adoption Fundraising

The possibilities for adoption fundraiser events are endless. Some hopeful families have held online auctions, sold t-shirts, set up car washes, or sold homemade salsa or baked goods. Your church, company, or social groups may be willing to help with event planning! Most of your loved ones will be thrilled to help with your adoption journey, and organizations like Both Hands can lend support.

Lifetime Adoption Foundation 501 (c)3

The Lifetime Adoption Foundation offers support to adoptive and birth parents. This foundation provides adoption education, support, resources, and financial assistance for those in need.
Learn More About Lifetime Adoption Foundation Grants