Financial Aid for Adoptive Parents

Government Assistance:

You are eligible for a Tax Credit of at least $12,150.

Other Options:

• Consider bank loans to cover the costs of your adoption, specifically Fifth Third Bank which has loans in place for adoption. Contact Fifth Third Bank at (614) 486-2447.
• Investigate private grants or loans, examples:
  1. National Adoption Foundation
     
     Mill Plain Road
     Danbury, CT 06811
     (203) 791-3811
  2. Dave Thomas Foundation for Adoption


• Adoption Tax Credits- Adoptive Parents may claim at least $12,150 tax credit for adoption expenses.


• Dependent Exemption-Birth children and biological children as viewed as the same when claiming dependents on your taxes.
• Employee Benefit Programs- Roughly a quarter of the nation’s employers offer some form of benefits to their employees.
• Federal Medical and Family Leave Act- Unpaid leave under the federal Family and Medical Leave Act is also available to Adoptive Parents.
• Military Subsidies-The military may reimburse active-duty personnel for most one-time adoptions, whether adopting a healthy infant, a waiting child, or a child from abroad.
• Churches are often a good source of support, both financially and emotionally
• A practice that is growing more common is insurance policies covering birth mother medical expenses.
• Apply for Gift Program through American Adoptions