Family Magazine

5 Ways to Finance an Adoption for Parents-in-Waiting

By Momatlast @momatlast

Have you given up on finding a way to pay for adoption? Well, don’t! You can absolutely still achieve your dream of adopting a child. Adoption is expensive, it’s true. At an average of $40,000 for a private adoption, it costs almost as much as a house. But those adoption funds are closer to your grasp than you might imagine. Here are five ways to fund an adoption that spell success for almost any family.

5 Ways to Fund Adoption

1. Adoption Grants

Dozens of organizations offer grants in varying amounts for people who want to adopt a child. It is definitely worth looking into and applying to the ones for which you may qualify. Here are a few of the more well-known adoption grant organizations:

• Both Hands Foundation
• Gift of Adoption
• Lifesong for Orphans
• Show Hope
• Reece’s Rainbow Adoption Ministry (for adopting special needs children)
• Help Us Adopt
• Adopt America Network
• A Child Waits Foundation
• God’s Grace Adoption Ministry
• Jewish Free Loan Association
• National Adoption Foundation
• Waiting Child Revolving Loan Fund (for adopting special needs children)

2. Crowdsourcing

Crowdsourcing is a new way of raising money online that can be used to get funds for just about anything. Sites like,, and allow you to create a fundraising page and promote it online. Create a compelling story to go with your campaign and include lots of photographs and videos of you and your spouse (as well as your house, pets, and other children if you have any) to get the best results. Other couples are using crowdsourcing to raise funds for adoption. Why not you, too?

3. Adopt from Foster Care

Most states have foster care adoption programs that cost little to no money to participate in. Children in these programs have biological parents whose parental rights were terminated by the court for many different reasons, making them available for adoption by new families. You’ll find children who range in age from babies to teenagers in these programs.

In most cases, the state pays all of your expenses in the adoption (or at least reimburses you). Most states also provide children adopted out of the foster care system with health insurance and pre-paid college tuition to a state university. This is one of the most affordable ways to adopt.

4. Cash Out an Annuity or Structured Settlement

If you have an annuity or structured settlement, you can cash it out by selling it to a company that purchases them. According to Advantage Compendium, the average annuity is around $50,000. Structured settlements vary according to the annuity contract

Selling annuities and structured settlements to get a lump sum of cash is perfect for raising adoption funds fast. If you go to, you will find a list of reputable companies that will purchase your annuity payments for a lump some of cash.

5. Adoption Loans

There are public and private organizations that offer loans specifically for adoption. The National Adoption Foundation has a list of companies it endorses for adoption loans. Some of the more well-known loan programs include:

• ABBA Fund
• A Child Waits Foundation
• Lifesong for Orphans
• Oxford Adoption Foundation

Sometimes, you can get a loan from your bank to finance adoption if your credit is good. A home equity loan can is another option for using loan money to finance an adoption. The IRS offers an adoption tax credit of $12,650 per child, so you may get some of that money back once your adoption is official.

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