Any way to lower adoption costs?

LizLovesJason · January 2009

I'm sorry if this has been posted before, but I'm asking for a friend of mine. She has a 4-year-old daughter and is a wonderful mother. She would love to have more kids, but unfortunately she can't. She was diagnosed with breast cancer right after her daughter was born, and ended up getting a preventative hysterectomy. She's healthy now and wants to adopt, but she said there's no way she and her husband can afford the $10,000 or so they would need for it. Even though they're not rich by any means, they don't qualify for any funding assistance available to lower-income families.

I'm sad for her because I know how much she wants another child. Is there anything that can be done to lower the cost? (They want an infant, and I believe they're open to either domestic or international adoption.)

I know there are a lot of costs involved with adoption, but wow, I really think SO many more kids would have homes if it were more affordable. I'd love to adopt when my kids are older, but I don't see how we will ever be able to afford it either.

Sally J · January 2009

Some ideas I've seen on here to help offset the cost:

fundraising (t-shirts, raffles, silent auction)

selling or using assets (house, stocks/bonds, savings)

bank loan

tax write off (I think it's around $5K write off in the year the adoption is finalized)

foster to adopt - virtually free, but definitely less than $1000 (that's what we're doing!)

MsBlake · January 2009

They could do foster to adopt... She or her husband may also want to check with their employer(s) as many companies offer adoption benefits to help eat some of the cost.

jacksjerseygirl · January 2009

I'm sorry for your friend, but she could come here and talk with us too ;-) A lot to learn around here.

- fost to adopt through the state system is inexpensive and IMO if more people would do this then many more kids would have homes

- they should talk with a tax professional because more than likely, unless they are in the top 5% of earners, they qualify for tax adoption credits and they should also check through their employers because many companies offer an adoption credit. Keeping in mind that all of these are reembursments after the adoption

- US adoption for a non-african american newborns average 20-25K, US adoption for a bi-racial or african american newborns range between 10-15K (keeping in mind that these are just rough averages - which means that there are adoptions that have taken place for less and for more than the numbers referenced. The cost also vary based on using an attorney, agency, private, facilitator, etc). International adoptions are in the 25-40K range depending on what country - though with her history of cancer they would have a difficult time with many countries.

- Many agencies offer waivers of their own fees or reduced fees if you adopt a biracial or african american newborn.

Good luck to your friend.

kirstenw05 · January 2009

we are foster/adopt and it has so far cost us ZERO, and they pay us every month we have the baby, and we get free formula from WIC. Obviously, we didnt do this to make money and spend tons spoiling her and dressing her well, but, its just to give an example that it can be very affordable to foster/adopt.

love_ya_babe · January 2009

I would tell her to look into foster/adopt. The fees are extremely low. There is also a tax credit that is around $10000 dollars that they get back the year that the adoption is finalized. Fundraisers are a great way to earn some extra money. I have heard of people selling cookbooks, doing garage sales, etsy stores, ebay, etc. You really just have to look at yearly expenses and see where you can save up money. For us we are buying our first house this spring, instead of waiting until the end of the year. This way we will qualify for the $7500 first time home buyer credit, we are using our tax return and our bonuses for the next year to cover the expenses. If we need to take out a loan to cover the remainder then we will pay it back with the tax credit. You can definitely save and raise the money. It will probably take a couple of years, she just needs to get creative!

Temp206787500007404 · January 2009

I just checked TurboTax and the adoption tax credit is $11,500 now.

itsmyangel · January 2009

We're looking into catholic social services (is in our area but i'ms ure most areas have somthing like it) its a private agency that works with infant domestic adoptions.....it can take awhile 12 months just to get homestudy....but is based on your income ranging from 5,000-14,000 for the adoption with no hidden costs...they also spread payemtns over 2 years

karalee402 · January 2009

There are TONS of grants out there for low to moderate income families who want to adopt. It can be ridiculously expensive, but I'd recommend doing a Google search for adoption grants and paging through some of them. I can strongly recommend two that helped us out - the Abba Fund and Shaohannah's Hope. Both are religiously affiliated, but I know there are others that aren't. Best of luck to your friend!!!

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