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IVF Treatment Loans
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Infertility affects about 1 in 7 couples, many of whom turn to in vitro fertilization (IVF). But fertility services aren’t usually covered by insurance, so many potential parents-to-be must pay out of pocket for this type of treatment. IVF can cost tens of thousands of dollars in America, making it out of reach for many who need it.
Fortunately, there are a few ways to pay for fertility treatment, including IVF loans. Learn more about these loans and your other options in the analysis below.
The cost of IVF: $12,000 to $60,000+
A single cycle of IVF treatment costs about $23,000, according to FertilityIQ, a fertility research and education website. While the base cost of IVF is about $12,000 per cycle, the total cost is much higher with medication, consultation, intracytoplasmic sperm injection (ICSI) and preimplantation genetic screening (PGS):
- Medical treatment costs: $8,000-$14,000
- Medications: $3,000-$7,000
- ICSI: $1,000-$3,000
- PGS: $4,800-$6,000
On top of this, many couples and individuals will need to go through multiple IVF cycles, bringing the total closer to $50,000 or even $60,000.
If you’re considering taking out a loan to pay for IVF treatment, it’s good to look at all of these costs when determining how much to borrow.
3 options for IVF loans
An IVF loan is a type of personal loan used to pay for fertility treatment. Some loan providers specialize in IVF loans, working directly with the fertility clinic to make payments on your behalf. Other IVF loan providers simply offer traditional personal loans and disburse the money directly into your bank account.
The table below features IVF loan options for a variety of credit profiles.
|Loan length||Not specified||24 to 84 months||12 to 60 months|
|Credit requirements||Good or better credit||Good or better credit||Fair or better credit|
You can also check out LendingTree’s personal loan marketplace, which lets you see if you prequalify for multiple loan offers by filling out one form. Doing so does not affect your credit.
Paying for fertility treatment with an IVF loan
Personal loans come with a fixed interest rate and consistent monthly payments, making them a predictable way to pay for IVF treatment. With a personal loan, you know exactly how much interest you’ll pay throughout the life of your loan, as well as when you will pay off your loan.
You can take out a personal loan from a bank, credit union or online lender to pay for IVF treatment. Most personal loans are unsecured, so you don’t risk losing an asset like your home or your car if you default on the loan. With no collateral to secure the loan, though, your eligibility will depend on your credit score, income and outstanding debts, among other things.
Borrowers with good or better credit, meaning a credit score of 670 or higher using the FICO model, will have the best approval odds. And the higher your credit score is, the better your chances are of qualifying for a personal loan with a low interest rate. Weigh the advantages and disadvantages of using a personal loan to pay for IVF treatment below:
| You’ll have predictable monthly payments and interest costs.
You’ll know exactly when your IVF treatment will be paid off.
You may qualify for a low interest rate, depending on your creditworthiness.
| You may have to pay an origination fee, up to 8% of the total cost of the loan.
You may need good or excellent credit to qualify, especially for a loan with a low interest rate.
You’re borrowing a fixed amount of money, which may be more or less than you need.
How to apply for an IVF loan
Applying for a loan to pay for IVF treatment can be done entirely online in just a few steps:
- Check your credit score. You can get your free credit score and credit monitoring services on the LendingTree app.
- Prequalify through multiple lenders. Many (but not all) lenders let you check your potential loan eligibility and interest rates with a soft credit pull, which doesn’t affect your credit score.
- Compare loan offers. If you received multiple loan offers, compare them by estimated APR, loan amount and loan length. These will all factor into the total cost of the loan, as well as the monthly payment.
- Formally apply through a lender. Once you’ve decided on a personal loan offer, you’ll formally apply for it. This involves a hard credit inquiry, which will temporarily lower your credit score.
- Receive your loan funding. You may receive a loan decision the same day you apply. If approved, the funds will be deposited into your bank account, typically within a few days of being approved. You can then use this money to pay your IVF treatment bills.
Estimate how much your monthly payments would be with this IVF loan calculator:
Can you get an IVF loan with bad credit?
It’s possible to find IVF financing if you have bad credit, but interest rates will likely be high. That’s because unsecured loans are backed only by your promise to repay the lender, so it will want to see a history of good financial habits when deciding whether to extend a loan offer. While your credit score isn’t a perfect measure of your financial responsibility, it does reflect your on-time payment history as well as the amount of debt relative to the credit you have available.
If you have bad credit, you might consider your alternative IVF financing options, such as IVF grants and secured loans.
Other ways to pay for IVF treatment
IVF loans aren’t the only way to pay for fertility treatment. Think about all your options, from IVF grants to medical credit cards. Here are a few things you should consider before you commit to an IVF financing method:
- Ask the fertility clinic about its offerings
- Search for IVF grants through nonprofit agencies
- Charge a medical credit card or 0% APR credit card
- Look for secured financing options
✔️ Ask the fertility clinic about its offerings
Since IVF is such an expensive medical treatment, fertility clinics are accustomed to having patients who can’t pay up front. As a result, some clinics offer in-house payment plans or partner with medical loan providers to give their patients a way to finance IVF treatment.
Before you sign on the dotted line, it’s important to read over the potential terms. You may get a better financing offer by shopping around for loans with the lowest possible interest rate for your situation. When looking over a fertility clinic financing offer, make sure you analyze:
- APR: Since this is the annualized cost of borrowing, it’s a good measure of how affordable a loan will be when compared to other financing products.
- Fees: Some lenders charge an origination fee when you take out the loan and a prepayment penalty for paying off your loan early.
- Monthly payments: Make sure the payment plan fits into your monthly budget so you don’t end up defaulting on your IVF loan.
✔️ Search for IVF grants through nonprofit agencies
Some nonprofits are dedicated to helping individuals and couples achieve parenthood by administering IVF grants. With these types of grants, you’re typically required to meet specific eligibility requirements and fill out an application. Some grants are issued by random selection, while some grant winners are chosen based on their application.
The table below features a few nonprofits that offer IVF grants to parents-to-be nationally and regionally. You should also do your research to see if there are any nonprofits in your area that specialize in helping people with the cost of fertility treatment.
3 nonprofit programs that help with IVF costs
|Program||What it does||Eligibility|
|Baby Quest Foundation||Baby Quest offers grants to individuals and couples seeking IVF treatment.|
Grants vary in amount based on individual need and are disbursed twice per year.
|Applicants must be located within the United States and: |
|Footsteps for Fertility Foundation||Footsteps for Fertility offers IVF grants and in-kind donations that are awarded via random selection. Monetary grants are typically $5,000.||Applicants must live in the United States and: |
|Coalition for Family Building||The Chicago Coalition for Family Building offers IVF grants to Illinois, Indiana, Missouri, Wisconsin and Iowa residents. Grants are offered in the form of monetary grants and IVF cycle grants. The maximum financial grant is $10,000.||Applicants must live in an eligible state and: |
✔️ Charge a medical credit card or 0% APR credit card
Credit cards let you borrow exactly what you need to cover IVF treatment since you’ll charge expenses as they arise, but they tend to come with high interest rates that make borrowing costly. However, you may be able to qualify for low-interest or no-interest IVF financing using a medical credit card or a traditional credit card that has a 0% APR introductory offer.
Certain medical credit cards offer deferred-interest financing, which can save you money on interest as long as you stick to the payment schedule. But if you miss a payment or default on payments, you’ll be charged standard purchase APR back to the date of purchase, which can be extremely costly.
People with good or excellent credit may qualify for a traditional credit card that has a 0% APR introductory period. These offers typically last up to 18 months, but some may last longer. If you can repay the balance during this time period, you may be able to finance your IVF treatment and avoid paying interest altogether.
When using a credit card to pay for IVF treatment, make sure you account for annual fees, credit limits and repayment schedules.
✔️ Look for secured financing options
Eligibility for unsecured financing is based on an applicant’s financial history, including their credit score. It’s difficult for borrowers with bad or fair credit to qualify for unsecured financing, but it’s not the only option when it comes to IVF financing. Secured loans, including auto-secured personal loans and home equity loans, may present an alternative for fair-credit borrowers seeking fertility treatment.
Auto-secured loans are personal loans that are secured by your car. These loans are easier to qualify for than traditional unsecured personal loans, and they may offer lower interest rates, but many lenders do not offer them. You can find a few options for auto-secured loans in the table below:
|Loan amount||$5,000-$25,000||$1,500-$20,000||Up to $50,000|
|Collateral required||Cars 10 years old or newer||Cars, trucks, motorcycles, boats, campers and RVs||Cars 20 years old or newer|
Home equity loans or home equity lines of credit (HELOCs) let you borrow against the equity in your home, and they may be a better option for people who can’t qualify for a traditional unsecured personal loan. Home equity loans and HELOCs tend to come with low APRs since your home secures them. The main drawback is that you could lose your home if you don’t repay the loan.
Use LendingTree’s home equity calculator to see how much you’re eligible to borrow.