[srishti1775]

Hi,

We have just started looking into adoption process and it seems like average cost is 25-35K. I was wondering if there are any avenues to get any kind of financial assistance for adoption.

Thanks

[sak9645]

Most families tap into savings, take loans against their 401K plans, borrow from family members, do fundraising, etc.

There are some banks that offer adoption loans. There are some grants from foundations, but they tend to be deluged with applications and have limited funds to disburse. Some employers have adoption benefits, and it is worth checking with your personnel department.

Do remember that there is a federal adoption tax credit which will be up to about $11,000 this year. Read about it on the IRS website. Some states may also offer adoption tax credits.

Sharon

[srishti1775]

Thank you.