08/09/2023
FINANCES AS A FOSTER PARENT
Please read the following about Finances while you are a foster parent.
It is necessary that foster care applicants have sufficient income to meet the needs of their family. Foster parents do receive a monthly stipend for having a child in their home. However, DCF 56 requires that foster families have sufficient income to meet the needs of the child without relying on the foster care stipend. Prior to making the decision to become a foster parent, it is wise to consider the financial impact of having a child or children added to your home. Upon placement, you may need to purchase supplies and/or clothing that you did not already have in your home. Some of these costs may be reimbursed, however, you will need to have the financial ability to pay for them up front. Foster parenting will require extra time and added transportation costs. In your home, loads of laundry will be bigger, and grocery and clothing bills will increase. Having a new member in the household is a change for everyone. If you already have children of your own, they will get less of your time and attention and you will be spread a little thinner. The foster care rate was designed as a means to support the child in your home. It should cover all costs associated with the child and some reimbursement for your time, however, it is not a source of income.
Foster parents also receive an allowance for initial clothing purchases, however, after the initial allowance it is expected that foster children are clothed appropriately and in a similar fashion to other children in the home. Daycare assistance is available to foster families when child care will be needed for young children. Further, foster children are provided with medical and dental health coverage.