The number one reason a number of people do not adopt or say that they cannot adopt is because they believe it will cost way too much money. However there are a number of adoption benefits available, especially in foster adoption.
While it is true that domestic and international adoption are extremely expensive, sometimes costing well over $40,000, often adoption from foster care is completely free. There are currently hundreds of thousands of children awaiting adoption from foster care. One can find an adoptive child by doing a google search of children waiting to be adopted in their home state or even from another state. The state often pays the attorney fees to finalize an adoption with adoption from foster care. The key is to find an attorney who will settle on those fees as payment and not charge anything more.
With domestic and international adoption, there are no subsidies from the state or otherwise, while with foster care the majority of children available for adoption are also eligible for a monthly subsidy depending on the state and the qualifications that each child falls under. The subsidy also lasts until that child turns 18. For example, the qualifications for subsidy in Texas are: child must be over the age of two if a minority, if Caucasian the child must be over the age of six, sibling groups also qualify in the state of Texas. Currently the max subsidy for a child adopted in Texas is $400 per month per child.
With domestic and international adoption, children likely do not qualify for free tuition to college once they graduate high school or free dual-credit courses while they are in high school. In adoption from foster care, the children do qualify for free tuition to any university or community college in their home state. This is a huge benefit to parents and to children once they reach the college age.
Adoption Tax Credit
There is also an adoption credit at tax time that you can file. For more information on adoption credits for taxes you can click here.
Those who fear the cost of adoption should really look into adopting a child from foster care. While it is true that it is difficult and rare to adopt an infant from foster care, some may find it easier to adopt an older child who is already past the toddler stages of potty training, tantrums, and daycare. They could save a life, keep a group of siblings from being split up, adopt at no cost to themselves, and could have their children earn college degrees at little cost to the family.