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Family

How to Afford the High Cost of Adoption

September 27, 2023
By Sam Hayes
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Many people choose adoption to bring the joys of children into their lives. According to Nashville Parent, you might have to spend up to $35,000 for a domestic adoption. If your heart is set on adoption, don’t let the cost deter you. Here are some of the ways you may be able to afford adoption.

Government Assistance

The U.S. government provides a tax credit for adoption-related expenses. As of 2023, the amount provided is over $14,000. Those funds can be used for agency and attorney fees. You can subtract that amount from the taxes you owe and use those funds for up to five years.

For example, if your income results in taxes of $15,000 and your adoption costs of $20,000, you will only need to pay $5,000 that year. In addition to the tax credit, if your adopted child has a disability, some states will provide a subsidy for expenses related to their medical care.

Search for Grants

Many charitable or non-profit organizations have funds available for adoption grants. The National Adoption Foundation has been working with adopting families since 1994. Help Us Adopt can award up to $15,000 for adoption expenses. Another source could be the Boatner Family Foundation, which offers $10,000 toward your costs.

The most well-known adoption support program may be the Dave Thomas Foundation. Dave was the founder of the Wendy’s fast-food franchise and was adopted as a child. His foundation is particularly interested in assisting families who adopt children who have aged out of foster care.

Agency Fees

Some adoption agencies will offer a sliding scale for their adoption fees. They will base their fees on your income, which may make it easier to afford the adoption. Other adoption agencies may charge a fee, but instead of an hourly fee, they will charge a fixed price.

Before deciding to use an adoption agency, ask them to provide you with a written document stating their fees. Whatever the amount of an adoption fee, an agency may ask for a deposit for their services – whether you adopt a child from their agency. Look for an adoption agency that only charges their fee when an adoption is finalized.

Change Jobs

If your current job isn’t paying enough for you to afford an adoption, it may be time to consider changing jobs – or adding a part-time job to increase your income. One growing field where you may find a better-paying job is at a medical spa. These facilities provide clients with the pampering and relaxation of a spa while receiving medical treatments like hair removal, chemical peels, dermabrasion, and wrinkle removal by lasers. According to EHL Insights, spas like these, located worldwide, are expected to reap profits of over $27 million by 2025 – so they might be the ideal place to get a job.

If you’re looking for a part-time job to add to your current position, you might want to become an event planner. Since almost half of people who plan events begin planning six to 12 months before the event, you could schedule your event planning around your job and family life. Your family life could be another consideration for changing your current position – if that job doesn’t provide enough time to care for a child. If you need to use a daycare center for your child after the adoption, you may want to find a job where they have on-site daycare.

If you dream of adopting a child, it doesn’t have to stay a dream. If your current status of financial security prevents you from affording the initial costs, don’t let that stand in your way. Choose one of the above sources to find funds for the adoption or ask the agency if they can suggest some ideas. If you don’t give up, you may someday find the key to completing your family with an adopted child.

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