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Affording Adoption
Agency and private adoptions can range from $5,000 to $40,000 or more, depending on a variety of factors including services provided, travel expenses, birthmother expenses, requirements in the state, and other factors.
International adoptions can range from $7,000 to $30,000.
Adopting from the U.S. foster care system is generally the least expensive type of adoption, usually involving little or no cost, and states often provide subsidies to adoptive parents.
Stepparent and kinship adoptions are often not very costly.
There are a growing number of resources to help manage the cost of adoption, including an Adoption Tax Credit, Adoption Loans, Adoption Subsidies, Adoption Fundraising, Adoption Subsidies, and employer-provided Adoption Benefits
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Adoption Costs
Agency and private adoptions can range from $5,000 to $40,000 or more, depending on a variety of factors including services provided, travel expenses, birthmother expenses, requirements in the state, and other factors.
Prospective adoptive parents may be concerned about the costs of adopting a child and their ability to meet those costs. Becoming a parent is rarely free of expenses—pregnancy and childbirth can be expensive and even more so without adequate insurance—and adoptive parents may be faced with initial costs that seem challenging.
Affording Adoption: Additional Resources
Employer-Provided Adoption Benefits
Employee adoption benefits vary but they are becoming more and more available. In 1990, one study found only 12 percent of employers offered benefits to adoptive parents: by 2004 the proportion had increased to 39 percent, with an average maximum reimbursement of $3,879 for adoption expenses.
Employers that offer adoption benefits cite advantages for their companies including maintenance of productivity, retention of good employees, a positive public image, and equity in benefits for all employees.
Sources of Financial Assistance
Aside from employer or tax-related benefits, there are a variety of sources of non-profit and government-based assistance available to prospective parents. These can include Adoption Fundraising, private Adoption Grants, specialized Adoption Loans, and Adoption Subsidies.
Adoption Assistance for Children Adopted From Foster Care
In every State, children with special needs are waiting in foster care for adoptive families. The most recent data suggest that an estimated 115,000 children are available to be adopted from foster care.
Adoption Tax Credit
Tax benefits for adoption include both a tax credit for qualified adoption expenses paid to adopt an eligible child and an exclusion for employer-provided adoption assistance. Currently the credit has a maximum amount (dollar limitation) of $12,970 per child.
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