International adoption can be expensive due to agency fees, legal costs, travel expenses, and post-adoption support.
Prospective adoptive families can explore various financial resources to help manage the high costs associated with international adoption. There are numerous grants available specifically for adoptive parents, offered by nonprofit organizations that provide financial aid to families committed to adoption. Additionally, low-interest adoption loans can be an option to cover immediate expenses, allowing families to pay back the costs over time.
Adoptive parents may also apply for adoption grants from various organizations such as Helpusadopt.org and Gift of Adoptions.
At the conclusion of the adoption process, adoptive parents may also qualify for federal adoption tax credit, which can significantly reduce the financial burden by providing a tax refund or credit for qualifying adoption expenses. It's important to research these options early in the process to understand eligibility requirements and application timelines.
Crowdfunding has become another effective way to raise funds, with many families turning to online platforms to share their adoption journey and gather support from friends, family, and the broader community. Hosting fundraising events, such as bake sales, auctions, or benefit dinners, can also generate funds while raising awareness about adoption.