Adopting a child is no easy task, and the cost is not something every parent would be willing to pay!
How Much Does It Cost in adopting a child?
While it would be nice if there were just a set price that could be told about adoption, unfortunately there is no set rate.The cost of adoption depends on many different factors including the types of adoption you are considering and a host of other variables which you will find listed below. While these costs might initially surprise you there are some possibilities of receiving either a state or federal tax credit that can offset the costs.
Domestic Birth Mother Relinquishment Private Adoption
When looking to adopt through a private agency you are looking to spend about $34,000, however if you opt to work with an attorney you could cut the costs to about $30,000. Some of the factors that determine the costs include how early you were matched with the birth mother during her pregnancy, whether or not the birth mother has health insurance that will cover costs, the potential amount of adoptions that fall through because the parent backed out, travel costs forgetting the child from another state, the race of the baby, the agency fees, whether you have found the adoptive mother on your own or paid the agency to, and associated legal fees for finalizing the adoption.
Public Adoptions (Foster Care)
If you are presently a foster parent looking to adopting a child that you’re caring for it could cost you about $2500. While you will most likely qualify for a monthly subsidy until the child reaches 18 as well as Medicaid coverage, and in state college tuition you should still consider this cost. Factors that affect the cost of adoption through foster care includes whether you work with a welfare agency or one under contract with the state to place foster children, how far you will have to travel to get the child, and it may be required that you pay for a training course so that you understand how to care for an adoptive child.
Of all three types of adoptions the most expensive is likely to be one that is done internationally. Adopting parents can look to pay around $44,000 internationally. The main factor that determines the overall costs is the country in which you’ve adopted the child from. There may be associated fees, travel costs, and other investments such as obtaining a visa and a passport for the child.
While you might be surveying the cost of adoptions and wondering if it is right for your budget, just keep in mind that having a child you can care for is priceless. You will be giving a child shelter, food, and love that they need to become positive citizens of their country. If you’re considering the idea of adopting a child for yourself, sit and weigh all the above- mentioned factors to find out if there are ways you can save on the overall costs. You may also be able to work out payment arrangements if you’re working with an attorney or an adoption agency as there is a high demand for qualified parents to help those children in need.