Individuals looking to adopt are thrilled with the thought of bringing a new child into their family. However, many are shocked and somewhat discouraged when they realize exactly how much the whole adoption process can cost. American Adoptions reports that the most common question they receive is, “How much does it cost to adopt a child?” There are several factors that determine the exact amount, but more often than not the cost is more than expected.
Here are some of the elements that determine the price of adoption:
- If the adoption takes place through a domestic adoption agency, domestic independent adoption, international adoption professional or a foster care system.
- If variable adoption expenses (medical, legal, living) are required to complete the adoption.
- The type of adoption professional that structures their costs.
Depending on these factors, an adoption from an agency can range from $20,000-$50,000. These costs are not always affordable for families, which can prevent them from ever going through with the decision.
American HealthCare Lending has created an adoption loan platform that covers all expenses related to the adoption process. Companies such as American Adoptions use this program so more individuals can go through with the life-changing decision of adoption regardless of the cost. The loans provided are unsecured, which means that you do not have to have collateral to borrow against. Many banks and other lending organizations are not able to offer such loans, making this a unique opportunity for families. In addition, the loans have no prepayment penalties, no retroactive interest, and low monthly payments.
American HealthCare Lending makes adoption affordable. Adoption agencies and providers can learn more by calling 888.602.6066 or visit http://www.americanhealthcarelending.com/markets/other/