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Difference between revisions of "Sources of Financial Assistance"
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Latest revision as of 22:02, 18 May 2015
If the idea of fundraising causes you to cringe, you’re not alone. Many people quickly bypass the idea of fundraising because it sounds too difficult, they feel awkward asking for money, or they simply don’t know where to begin. You may be surprised to learn that it only takes a few good ideas, planning, and some elbow grease to successfully fundraise to help cover your adoption expenses.
Adoption Fundraising
If the idea of fundraising causes you to cringe, you’re not alone. Many people quickly bypass the idea of fundraising because it sounds too difficult, they feel awkward asking for money, or they simply don’t know where to begin. You may be surprised to learn that it only takes a few good ideas, planning, and some elbow grease to successfully fundraise to help cover your adoption expenses.
Adoption Grants
Some organizations and adoption agencies offer grants to families who inquire and qualify for their program. Typically, grant programs are for specific children, countries, or other criteria specific to the organization offering the grant. Keep in mind that many other people are applying for the grants as well, so while you may fit all the criteria, you may not receive the grant.
Adoption Loans
Loans are one way to pay for some or all adoption costs. Some organizations offer low-interest adoption loans to qualifying families. You can also talk to your bank about home equity or line of credit loans, although they are usually at a higher interest rate than that offered for adoption-specific loans. While loans do require repayment, there are resources that can help you with that once your adoption is finalized, such as the Adoption Tax Credit.
Adoption Subsidies
In every state there are children with special needs waiting for adoptive families. In the past, most of these children would wait forever. The costs of care and services were major obstacles for parents who would otherwise adopt and love them. Adoption subsidies, also known as adoption assistance, remove many of the obstacles of the past. Financial help and services are now available for children with special needs and their adoptive parents.