How to Finance Your Infertility or Egg Donation Journey

For many, infertility treatment — whether or not you pursue egg donation — can be a costly process, even if it provides an incredible opportunity for people who want to achieve their dreams of parenthood. Fortunately, there are several ways to finance infertility costs (including the cost of using an egg donor) with loans that can make the process more accessible, a mission of ours here at Family by Co. 

Egg donation financing options to consider

Here are some options to consider when financing the use of an egg donor:

Financing programs

Some fertility clinics offer financing programs that allow individuals and couples to pay for egg donation services over time, often with little to no interest. These programs can make the cost of egg donation more manageable by breaking it down into smaller, more affordable payments. However, it's essential to understand the terms and conditions of the financing program, including any fees or penalties that may apply.

If you’ve decided you want to go the loan route, you have many options to choose from. There are general lending companies as well as companies that specialize in loans just for fertility treatments. 

Sunfish

Sunfish makes fertility treatment attainable for all types of families. If you’re pursuing egg donation and are interested in working with Family by Co to find your perfect match, we've partnered with Sunfish to offer you fertility financial resources and support throughout your journey. Sunfish offers the most comprehensive marketplace of financial options for IVF, egg freezing, embryo preservations, gestational surrogacy, egg donations, and more, up to $100,000 at industry-low rates. 

Sunfish has also waived their application and membership fees for all intended parents who are working with Cofertility. To take advantage of Cofertility’s infertility loan partnership with Sunfish, click here.

Ally

Ally’s loans offer solutions to cover the cost of infertility treatment at select partner clinics. Fill out a form to see your lending options and choose from 24-84-month loan options with annual percentage rates (APRs) starting at 3.99%.

FutureFamily

FutureFamily offers IVF loans (including egg donation), and they handle paying all your bills so you have just one easy payment. Loans start at $150/month* for 60 months based on your clinic, credit score, and approved infertility-related expenses. While you can apply individually, the rates are better (0% APR) if you are freezing with one of their partner clinics.

Lending Club 

Lending Club offers infertility loans that cover things like genetic testing, medications, and medical procedures at select partner clinics. They forward payment directly to the providers within three business days. Monthly payments are as low as $263/month to finance $15,000 with a 7.99% APR for 72 months.

Personal loans

Personal loans can be an option to finance the cost of egg donation, but they often come with high-interest rates and fees. It's essential to compare multiple loan options, understand the terms and conditions, and consider the long-term impact of taking on debt.

Other ways to save

Tax credits

The IRS offers a tax credit of up to $13,360 for qualifying expenses related to infertility treatments, including egg donation. This credit can significantly reduce the cost of using an egg donor, but it's important to consult with a tax professional to ensure that you qualify and understand the application process.

Infertility grants

In addition to financing the process with a loan, you may want to consider applying for infertility grants. There are many programs out there with shared goals of making family-building dreams come true. We also recommend checking out your state’s mandated fertility insurance coverage to see what you may be entitled to. 

What to know about taking out a loan

When taking out a loan, you’ll want to understand the terms and conditions of the loan, as well as the responsibilities that come with borrowing a large sum of money. A lot of the websites listed above will have online calculators to help you get a sense for the terms and fees you can expect. 

Loan amount: Consider how much you want to finance and whether they finance that amount. You could finance part, or all, of the egg freezing expenses. 

Loan terms: Loan terms are the length of time you have to repay the loan, and they can range from a few months to several years. Shorter loan terms generally result in higher monthly payments, while longer loan terms result in lower monthly payments but a higher total cost over the life of the loan.

Interest rates: Interest rates are the fees charged by the lender for borrowing money, and they can have a significant impact on the total cost of the loan. Find out the current interest rate being charged, and if that interest rate will stay the same or change over time. 

Loan fees: Of course, these lending groups need to make money, and they do this through loan fees. Loan fees are the additional charges associated with taking out a loan, including origination fees, application fees, late-payment fees, or prepayment penalties. You can use the annual percentage rate (APR) to compare average yearly fee and interest-rate expenses over the term of the loan. It's important to carefully review all loan fees and to make sure you understand the total cost of the loan.

Repayment options: Repayment options are the ways in which you can pay back the loan, including monthly payments, lump sum payments, or a combination of both.

Loan security: Loan security is the collateral that you provide to the lender to secure the loan, such as a home or a car. If you fail to repay the loan, the lender may take possession of the collateral. If you're taking out a secured loan, it's important to carefully consider the risks and responsibilities associated with putting up collateral.

Finally, if you’re quoted a monthly payment, remember to look beyond the monthly payment.  Think about how long you will pay, and what fees and costs have been added. 

In summary

Infertility loans are a great option to consider when financing your path to parenthood. We’re all about making the family-building process — especially via egg donation — more accessible. Through our platform, we’re able to reduce costs for intended parents and help make sure donors aren’t put between a rock and a hard place. 

How do we do it? With Family by Co, all of the egg donors on our platform give half of their eggs retrieved to intended parents, just like you, and freeze the other half for themselves for free to preserve some of their own fertility for the future. This way, they’re able to give a life-changing gift, but also consider their own ambitions and lifestyle choices. We feel this is significantly more ethical than other donation options out there, and our intended parents love the transparent nature of our platform.

We’re thrilled to continue our mission to make egg donation a more accessible family-building option, while providing an empowering opportunity for women who want to preserve some of their reproductive future. 

Cofertility is a human-first fertility ecosystem rewriting the egg freezing and egg donation experience. Our Family by Co platform serves as a more transparent, ethical egg donor matching platform. We are obsessed with improving the family-building journey — today or in the future — and are in an endless pursuit to make these experiences more positive. Create a free account today!