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If you’ve been trying to have a child of your own without success, you’ve probably heard many people ask you why you don’t just adopt. After all, they may say, there are plenty of needy children out there. They make it sound so simple. Of course, everyone knows about the lengthy application process and the shortage of adoptable children. However, they rarely consider that many people can’t quite afford the cost of adoption. They may not even know that it costs money to go through the process in most cases.
If you’re cash strapped, don’t let this stop you from considering adoption. Many employers and health plans have a little-known benefit that’s classified as adoption assistance. Some employers and health-care plans are proud of this extra benefit and publicize it, while others aren’t so forthcoming. Before you look for other ways to finance your adoption plans, contact your human resources department or health plan administrator and ask them if they have this benefit.
Some people will take out a new mortgage or refinance their home to find the funds for an adoption. If the couple has a lot of equity in their home and can manage to find a good interest rate, this isn’t a terrible option. It’s the way that many everyday people have found the money to travel to foreign countries to adopt when they’ve ran out of options at home.
Of course, a local adoption arranged by a social services department or the courts isn’t always so expensive that it eats away at someone’s life savings. You may be able to find some government assistance or charitable organization to help. In a pinch, you might even have to obtain pay day loans to come up with an unexpected application fee or court cost. Above all else, money shouldn’t be the barrier that keeps parents from finding their child.
