March 5, 2014
by Maralee
21 Comments
There are a lot of misperceptions out there about foster parents and money. The problem is that “good” foster parents know it’s taboo to talk about compensation, so there’s no way to clear up the confusion. We don’t want people to think we’re in it for the money, nor do we want them to worry if we have the money to take on an additional child, so we opt not to talk about the financial impact of foster care. I want to do my best to address some of the misperceptions I have heard, but I want to be clear that I do not represent an agency and my answers may be specific to the area of the country where I’m providing foster care. These are my observations from my own experience and the research I’ve done. Feel free to do your own research about what the reality is in your area.
Here are the misperceptions I most commonly hear:
“Foster parents are in it for the money.” The rate a foster parent is paid is based on a state’s assumption of how much it costs to raise a child in that state. This varies greatly from state to state, agency to agency, and based on the particular needs of a child (kids who need more specialized care, have behavioral problems, more medical appointments, etc. may mean foster parents get compensated at a higher rate). You can imagine, getting paid close to exactly what it costs to raise a child is not a way to MAKE money, but is how you keep foster children from being a financial drain on a family. My state has one of the lowest compensation rates in the country. This was recently changed by our state legislature and the increased rates will go into effect this summer. Until that happens, we will be paid 50 cents an hour to provide round the clock care for our foster kids. This is the rate we’ve been paid for the last 5 years we’ve been fostering. Obviously, 50 cents an hour is not an amount we would take if we were “in it for the money.” There will always be unscrupulous people who manipulate the system for their financial benefit (I’ve got a future post coming about that), but for those of us who foster parent with integrity, this is not likely to be a money making venture.
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