Back Arrow
Money Stories
Team Daylight

Best Financing Options for Fertility Treatments

Fertility options. Financing programs. Family planning for LGBTQ+ parents.

These are just a few of the topics that are probably running through your head right now. Naturally so—there’s a lot to consider when planning to have children as queer parents.

While there’s no one-answer-fits-all, we encourage you to browse through the different financing options below to see which ones resonate most with your needs.

Here at Daylight, our goal is to provide you with the best resources possible so you can start building your dream family, your way.

7 Ways to Pay for Fertility Treatment Costs

1. Insurance Coverage for Fertility Treatments

Did you know that 15 states are required by law to cover fertility treatment costs through private insurers? But in the same breath, some of those states specifically exclude LGBTQ+ people from being covered.

If you have private insurance, we suggest calling member services on the back of your insurance card to see if you’re covered.

  • Pros: Coverage of some of your fertility treatment costs
  • Cons: Coverage varies by state—with some laws excluding LGBTQ+ people

2. Fertility Loans

Good news! Fertility loans may be the financing option you’re looking for to help pay for treatment costs. Fertility lenders often partner with clinics to offer dedicated financing for IVF, fertility medications, storing eggs, and other related costs.

However, there is an application process and the loan offer and interest rate you receive will depend on the amount you borrow and your credit history. Consider the benefits of getting a soft credit check before applying.

  • Pros: Lenders send funds directly to your clinic and are available to borrowers with a wide range of credit histories
  • Cons: Potentially higher interest rates, depending on your credit history

3. Personal Loans with Daylight Grow

You can find personal loans from the following sources: local banks, credit unions, and online lenders through Daylight Grow.

It's always important to compare your options before making a big decision, like how to finance your fertility treatments. If you have any questions about how to secure a personal loan, you can reach out to our team at any time.

  • Pros: Wide variety of lender types so you can compare costs, interest rates, and funding spends
  • Cons: Varying approval guidelines and some lenders charge application fees

4. Home equity lending options

If you own a home, you could tap into 85% and 90% of its equity to pay for your fertility treatments. Here are your two options:

HELOC home equity line of credit - Let's say your lender approves you for a line of credit of $15,000—for example—and you draw on the credit line as needed to pay for your fertility expenses. You’ll only pay interest on the funds you use. Once you repay the funds, your entire credit line is available to use.

Home equity loans - You’ll borrow a lump sum, secured by your home’s equity, and repay the loan at a fixed interest rate over a fixed term. For example, you might borrow $15,000 at 7.9% for a 10-year term. Once you’ve repaid your loan, you’ll need to reapply for additional funds.

  • Pros: Lower interest rates than credit cards
  • Cons: Lengthy application process; appraisal and origination fees can add to your total costs

5. Credit Card Financing for Fertility Costs

If you have great credit, you might score the best possible interest rate for your fertility financing needs by using a credit card—either with a current credit card or by applying for a new one.

Using a current credit card to help pay for your fertility treatments is a viable option if you have a strong payment history. Or you can apply for a new credit card with a promotional rate offer to help finance your fertility treatments at a lower cost.

  • Pros: Potential for 0% interest financing for a fixed term to save on interest costs
  • Cons: Not the best option if you’re in the process of building or rebuilding your credit history

6. Fertility Grants and Scholarships

Free money is also an option.

It’s true—you can apply for fertility grants and scholarships to help pay for your treatment costs. And even though these opportunities will have different qualifying criteria, this is an option worth considering.

See this list of queer-friendly fertility grants provided by Family Equality.

  • Pros: Best way to advocate for free money
  • Cons: Many grants have limits and some LGBTQ+ parents won’t qualify

7. Crowdfunding for Fertility Treatments

Our final recommendation is: crowdfunding, aka GoFundMe. Because who doesn’t love supporting an LGBTQ+ cause?!

What’s amazing is that sites like GoFundMe have special landing pages where you can review campaigns from other parents raising money for their fertility-related expenses for inspiration.

  • Pros: A potentially easy way to raise awareness and funds for queer parenting
  • Cons: There are platform and payment costs

Exploring Fertility Financing with Daylight Grow

At Daylight Grow, we believe the world needs more queer parents. Whether you’re ready to start your queer parenting journey today or need more time to explore your options, you can count on us to be there each step of the way.

Disclaimer: The content provided on this blog post is not intended to provide legal, investment or financial advice and is not tailored to anyone’s specific circumstances. For any specific advice about your current circumstances, you may want to consult with a qualified professional. Any information or statistical data provided by Daylight Grow is used for informational purposes only. While Daylight Grow finds this information to be accurate, we do not endorse or guarantee any third-party content.