The path to getting certified to be a foster parent may cost a little, but most foster parents actually receive money once they are licensed and have a child placed for care in the home. Depending on your area, you may find that you have to spend out of pocket for licensing costs like fingerprinting fees and background check fees. In addition, you may need to spend money to ready your home for a child to live there — a crib or twin bed, dresser, high chair, fire extinguisher, blankets, etc.
Once you’re a licensed foster parent, there are very little, if any, out-of-pocket costs associated with caring for your foster child. Parents receive a monthly stipend and reimbursement for things like room and board, clothing, toiletries, allowance, and extracurricular activities. The child’s medical and dental expenses are covered by the state’s Medicaid program. Your foster child may even receive additional money for back-to-school supplies, a birthday allowance, and holiday gifts.