Adoption Loans American Adoptions and MBNA America Bank, N.A. have come together to offer an adoption loan program to adoptive families. Adoption Loan Program Questions and Answers Home Equity Loans - Interest rates often are reasonable and the interest is tax deductible. Insurance - You may be able to borrow from the cash value of your life insurance policy. A companion bill is expected to be introduced in the House. Adoptive parents are encouraged to contact their congressman to support this credit.
Many states have state tax credits for families adopting children from the public adoption agencies.
Contact your State Adoption Specialist for more information. Roughly a quarter of the nation's employers offer some form of adoption benefits to their employees, according to a recent study. Even if your employer does not currently offer adoption benefits, ask about their availability. You may be able to persuade your company to begin offering them. Work with other employees interested in adoption, gather information for the employer, and present your case.