Community› The Bump Message Boards› Adoption
Adoption
New Discussion

Adoption and student loans

Green&GrayGreen&Gray
in Adoption
My H and I went to professional school and have a very large amount of student loan debt.  While we will also have higher salaries due to our degrees, I worry that our debt to income ratio will make it difficult to adopt.  Our net worth will be negative for the next 10-30 years (depending on our repayment plan) even though our monthly take home pay would be more than enough to care for a child.  Has anyone else faced this situation?
Report Reply to Post

Re: Adoption and student loans

  • jenn985jenn985
    Actually we are kind of in the same boat. I am in the middle of a Master's program to complete my Family Nurse Practitioner, so my student loans are "less than desireable". They took this into account and used our monthly pay as opposed to our net worth to ensure that we would be able to adequately cover the additional expense of a child. No worries! :-)
    Unable to conceive due to emergency hysterectomy 11/04 Started our adoption journey 4/11 9/29/11- Officially waiting! 5/29/12- Our little boy is born and goes home with us the next day :-)
    Report Reply
  • Loading the player...
  • CaptainSeriousCaptainSerious member
    In my experience, all the agency is concerned with is that your income (plus savings, in some cases) leaves more than enough to care for a child after all your expenses are paid.
    Report Reply
  • buggerfly12buggerfly12
    Our homestudy never looked at net worth, just average monthly expenses. As long as you can pay your bills and still feed and clothe a child, it shouldn't matter.
    ~Julie image Lilypie Angel and Memorial tickers Lilypie Waiting to Adopt tickers
    Report Reply
  • lafayettegirllafayettegirl member

    I also have a professional degree and the crazy loans that go with it. Remember, that is GOOD debt to have. Most agencies won't look at it closely - they just want to know, like a PP said, that you can pay your bills and afford to raise a child. I can't imagine that any agency would penalize you for loans that paid for additional education which in turn provides you additional income. Dont' worry about it at all. You'll be fine! Good luck!

    Cervical Cancer Survivor since 2007 TTC Since 2008 IUI#1 = BFN IUI#2 = BFN IUI#3 = BFN IUI#4 = BFN IVF #1 = BFN FET #1 = BFN FET #2 = BFN FET #3 = BFN IVF #2 = BFN IVF #3 = BFN FET #4 = BFN FET #5 = BFP!!! 06/10/2011 Miscarriage 06/21/2011 Adoption Application Submitted 09/2011, Personal Documents Submitted 11/18/2011, Home Visit 12/16/2011, Officially Waiting!!! 01/21/2013 MATCHED!!!! 01/24/2013 Baby Boy Born! Lilypie First Birthday tickers
    Report Reply
  • amberfernandezamberfernandez member
    Both DH and I have HUGE student loan debt but they didn't look at our net worth, just whether we can afford our monthly payments and care for a child, which wasn't an issue.  Don't worry about it.
    Warning No formatter is installed for the format bbhtml
    Report Reply
  • GulfCoasterGulfCoaster
    The only case in which I think it might be an issue is if you are planning to pursue an adoption from China, since China has requirements for APs' net worth.   But for domestic adoption or for most other IA countries, I don't think student loan debt would be an issue so long as you have enough income to cover the payments and care for a child.   :)
    Report Reply
  • Green&GrayGreen&Gray
    Thanks ladies!
    Report Reply
  • asreinholmasreinholm member

    Like others, we haven't had an issue and my H has a considerable amount of student loan debt.

    TTC since 10.07~Diagnosed with PCOS 08.08~4 rounds of clomid=BFN~Took a break from meds... Surprise BFP 03.29.09~ Natural m/c 04.06.09~50mg clomid & progesterone 06.09=BFN


    Adoption made our wish come true 12.21.11~JEC 11.10.10

    Surprise BFP on 03.26.16! EDD 11.28.16




    Report Reply
This discussion has been closed.
Choose Another Board
Search Boards
"
"