After the adoption
Your child is home!
In all the busyness of welcoming a new family member, there are still some remaining activities to complete even after you have finished all the adoption paperwork. You will certainly want to maximize your Federal adoption benefits. The link below provides a summary of eligibility and redemption of the Federal Adoption Tax Credit.
The loan you received from the Adoption Made Possible through the Prosper.com Peer-to-Peer lending platform in Step 2 of the process will likely still be outstanding. Since this loan is all or partly funded with Adoption Made Possible resources, we urge you to pay it back in a timely manner. When you receive the Federal Adoption Tax Credit, we request that you use this money to pay off loan or pay down the principal. Paying back the loan principal allows us to fund loans and grants to other perspective adoptive parents. Of course, if repaying the loan principal ahead of Prosper’s monthly payment program creates a burden then continue with the agreed repayment schedule. Any loan interest (less Prosper’s Fees) earned by us through the loan mechanism funds more adoption loans and grants.