In Ohio, as many as 19,000 children are projected to be in the foster care system by this time next year. State leaders are offering a plan that could address the crisis by alleviating some of the financial stress that comes with adoption.
Adoption can cost between $10,000 to $50,000.
Angela Boblitt leads an adoption agency. She says a plan in the Ohio House that would reduce interest rates for loans to pay for adoption can go a long way. Boblitt says she and her husband ran into a financial roadblock when they were adopting one of their children.
"The reality of our situation was that $14,000 stood between us and our ability to bring home one of Ohio's most vulnerable children."
When a loan is approved, Ohio Treasurer Robert Sprague’s office would be depositing funds at the bank or credit union in exchange for a lower interest rate. Sprague says it wouldn't pose a financial risk to the state.
