• Adopting a child is a process that requires not only patience, compassion and a loving home, but also monetary resources that may be out of your reach if you live in a low-income situation. Everyone wants to give a child a home, and that's why your state, the federal government, charitable organizations, financial institutions and possibly your employer provide assistance to low-income families looking to adopt a child.
  
  

Loans and Grants

• A number of organizations and banks can assist in financing your adoption. Check with your bank to see if they offer a low-interest adoption loan to help pay adoption expenses. You may be able to pay the loan off with employee or military adoption benefits, or you can use the United States government adoption reimbursement program. Your lender will guide you through the process of applying for, and securing, the loan. Additionally, if you are affiliated with a religious or community organization, grants may be available to you for securing adoptions.
  
  

Tax Credits

• The Hope for Children Act (Public Law 107-16) passed by the United States Congress in 2001 enables you to claim a $10,000 tax credit for your adoption. The tax credit is more valuable to you in the fiscal year than a tax deduction, and can be applied to your taxes to reduce total tax liability. If your employer provides adoption benefits, The Hope for Children Act allows for a $10,000 exclusion in income.
  
  

Employee Benefits

• Your company or employer may offer an adoption-benefits program that covers a number of critical adoption costs. Do not be afraid to inquire about a potential adoption-benefits program in your company, no matter what your position or rank at the workplace. You may be able to obtain assistance with attorney expenses, medical checkup bills, adoption counseling, leave time and adoption agency fees. The benefits may be provided to you as a service, or in the form of money to spend on services.