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FINANCIAL AIDS

AVAILABLE RESOURCES TO ASSIST YOU IN FINANCING YOUR ADOPTION:

Federal Adoption Tax Credit: This tax credit provides the adoptive parents with a $10,000 credit per child for expenses paid to adopt. For incomes below $150,000 the entire credit can be taken. For incomes between $150,000-$180,000 a partial credit can be taken.

State Adoption Tax Credit: Classified state employees are entitled to a State Adoption Employee Benefit allowing them to receive up to $3,000 per adoption.

Employer Adoption Assistance Benefit: Many employers have adoption expense programs available. Ask your employer about this benefit.

Bright Futures: A non-profit foundation offering low interest adoption loans and grants. www.homestead.com/brightfutures

A Child Waits: A non profit foundation offering 5 year low interest loans to families adopting internationally. One child loan amount $7,000, two children $10,000. www.achildwaits.org

National Adoption Foundation: A revolving loan financing program is available for adoptive families. Call 203-791-3811 for an application.

Home Equity Loan: Interest is usually tax deductible.

MBNA: Gold Option Loans available for adoption. They are unsecured for up to $25,000. Call 1-888-500-6268

Nations Bank: Low interest loans for adoption 1-800-448-7061

First Union (D.C.): Low interest loans for adoption 1-888-314-5437

JVS Foundation: Offers grants amounting to $2,000 or more to families adopting. Call 1-877-905-2367

401K: Borrow against your 401K.

Gift Money: Often family members will give loved ones adopting personal loans or a monetary gift to assist with adoption costs.