Adoption Assistance - Financial aid help questions!

[mak54321]

We are just starting our paperwork to adopt 2 boys from Russia. Our agency has given us a very broad range of costs - between $45-60K for adopting 2 simultaneously.

How did you ladies help to defray these costs? I would love to hear every idea you've used or heard about!

THANKS in advance.
Monica

[crayonblue]

Adoption tax credit- $10,960 (11,390 for 2007)
DH's company adoption benefits- $5,000

This is the only "financial aid" we were able to get. But, then, DH's company unexpectedly decided to pay him extra for some past work- $12,000. In the end, Carmen's adoption was paid in full, a true answer to prayer.

I have heard of people having adoption fund garage sales, taking out a home equitey loan, placing some of the fees on credit cards, borrowing from relatives, etc. We made a commitment that we would not finance the adoption and that we wouldn't ask for money (I didn't have time to do a garage sale or that might have been an option!). We prayed that every penny would be provided and it was!

[icunurse]

We were determined not to owe money on adoption fees, either through credit cards or a loan from someone/bank. So, for the first one, I worked tons of overtime (we basically took whatever was over X amount from every paycheck of mine and placed it towards fees). Then we took the tax credit from that adoption and rolled it into savings for the second adoption, in addition to money from tax returns and a little here and there.

I know that there are loans and grants for adoption out there, but, from what I have heard, many are either for special needs adoptions or for people with limited income.

DS - 2004
DD - 2007

[jray]

We took out a home equity loan. We build our houses at cost, (my husband's dad is a builder) however, so we do have a lot of equity in our home. We took out a "Equity Line of Credit" that works sort of like a credit card. We have to take about $16,500 now and $10,500 later (when the adoption in complete) for Guatemala. I did take on more jobs (and doubled my previous salary) and hoping we get tax money and my husband gets a bonus. We'd like to pay it down as little as possible, but whatever's left, we'll just pay off when we sell our house in a year or two. (We constantly build and sell, build and sell). :)