Did you know:
- That foster adoption costs you little to nothing compared to private adoptions that may cost you between $5,000 - $40,000 (including international and domestic infant adoption)
- State and federal assistance programs offer financial help to adoptive parents of eligible children to help offset medical fees and any other necessary costs that may arise during the adoption process and throughout your child’s life until he or she turns 18. Types of financial assistance may include:
- Monthly government subsidies and reimbursements (Federal and State)
- Special loans and grants
- Paid medical coverage for children (Medicaid card)
- Visit this site for more information about the Federal IV-E Adoption Assistance. Program guidelines. State assistance programs vary by state. Check your individual state guidelines on this website.
- Adoption Tax Credits : Families who adopt children from foster care under the responsibility of a Title IV-E agency are eligible for a one-time tax credit of up to $13,000 to help offset court costs, legal and travel expenses, and other miscellaneous fees directly related to a legal foster adoption.
- Employer Adoption Benefits: A growing number of companies have begun to offer benefits to employees who adopt. These benefits can include financial reimbursement for legal fees, agency fees, and post-adoption counseling. Some employers even offer paid leave time, and help finding resources and referrals if you desire more information or support.
- Scholarships: Many organizations and foundations have scholarships in place specifically for children adopted from the foster care system. This will ensure a bright future for your child and help secure a higher education for him or her.
- Probably the greatest benefit of adoption from foster care is providing a child the priceless gift of a loving, safe and permanent home.
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