How Much Do Foster Parents Get Paid in Colorado?
Updated August 2024:
Interested in becoming a foster parent but wondering about the cost of fostering? Here’s the information you need!
Do Foster Parents Get Paid in Colorado?
The cost of caring for a child can cause potential foster parents to hesitate. Fortunately, the foster parents are provided a stipend from the State of Colorado to help support the basic needs of the child including food, clothing, and childcare.
The monthly stipend is set by the state based on the needs of the children and the level of care the foster home is licensed to provide. As of August 2024, foster parents typically receive a monthly tax-free stipend of $1,200-$2,300.
The state regularly assesses foster care rates, which typically result in increases for families.
Fostering is not intended to be a career. You do not need to be rich or own a home, but families need to have another source of household income to be able to support their own needs.
What About Health Insurance?
Colorado provides every child in foster care with Medicaid. This state insurance covers medical, dental care, and any behavioral health care that the child needs.
Foster parents are generally responsible for transporting foster children to medical appointments and court hearings. Savio generally provides therapy in the foster home for children who are receiving services.
What about educational expenses?
School-aged children receive free school lunch. Most school fees, such as athletic fees, are waived as well. There are also a number of programs in Colorado that can connect you with free or inexpensive items that you need to support the child.
Beginning in the 2022-23 school year, foster youth will be eligible for tuition waivers at public schools throughout Colorado! Foster youth are eligible for special grants and scholarships that may help with living expenses while attending college.
Savio will help connect you before you have a child and throughout the placement, so you are familiar with resources available.
What Expenses Should I Consider?
The safe home study will help you identify what you need before being able to accept a placement. This may include a bed and a mattress, car seats, medical supplies, diapers, infant formula, baby bottles, and other essential items. Foster children often come with few belongings. You may need to provide age-appropriate toys and clothing to care for the child.
Does it cost anything to become a foster parent?
All foster parents receive pre-certification trainings to enhance your ability to care for children with a wide range of backgrounds and needs. At Savio, we provide these trainings free of cost.
Certification also requires a background check. Savio does not pass this fee on to families either.
Is there a cost to adopt a child from foster care?
At Savio, we believe – and research proves – that reunifying families whenever possible creates the best outcomes for children and caregiver alike. We promote reunification whenever possible.
There are times when children are not able to be reunited safely with their parents, and foster parents are interested in adopting the child. In these cases, Savio is happy to connect the foster parent(s) and child to an agency that can facilitate adoption.
Costs for adopting a foster child vary based on the situation, but financial support is often available. Typically, adoption through foster care is far less expensive than adopting through a privacy agency.
More questions? Fill out the form below and we will be happy to talk with you!