How to Fund Your Child’s Medical Expenses : 5 Ideas

How to Fund Your Child's Medical Expenses 5 Ideas

The cost of treatment can reach thousands and even millions of dollars. Sometimes a child needs diagnostics, medications, consultations of several doctors, and in some cases – a surgery. It can be difficult to find the right amount to treat a child, but there are several options for solving this financial problem.

Idea 1: Bank loan

When you need a large sum, you can contact the bank. Many banks offer consumer loans on fairly loyal terms. This option has many advantages:

  • You get a large sum in cash;
  • You can choose the most advantageous offer by comparing the terms of lending in different banks;
  • The interest rate, repayment terms, etc. are clearly stated in the agreement that you sign at the bank branch.

However, bank lending also has its drawbacks. Submitting an application to the bank takes time: you will have to collect a lot of documents. And if you have a bad credit history, you may face problems: you will be refused a loan or be offered an unfavorable interest rate. The high probability of refusal is the second significant disadvantage since banks do not tend to issue large loans for treatment if you cannot confirm a high monthly income.

A payday loan is the closest analogue of bank lending. Payday loans Delaware require only an income and bank account and are often approved to people who have bad or no credit. A payday loan may be approved in less than 60 minutes and you may have the funds in your bank account as soon as the next business day or the same day.

Idea 2: Contact a charitable organization

There are charity organizations in the USA that are ready to provide free assistance to parents when it comes to saving a child. A big advantage of benefactors is that they do not require a refund, and besides, they can give money out quickly enough. However, amounts are often sometimes, and if you need a significant amount, it may happen that they will cover only part of it. You will have to find the rest on your own.

You will also have to prove that you can apply for this assistance: submit medical documents confirming the child’s illness, as well as proof of your income. You should apply only to large, proven funds, otherwise, you run the risk of encountering scammers.

Idea 3: Help from the government

You can also apply for financial assistance to government agencies: U.S. Department of Health and Human Services, city or state administration. To do this, you will have to collect a lot of documents and prepare an application, but if the child is seriously ill, it is likely that you will receive money.

When contacting government agencies, you do not have to be afraid of fraud, and besides, you get free help. However, paperwork takes time. In addition, the application will be considered in the order of the regulations, and this also takes time. Therefore, this method is not suitable if money is needed urgently. And there is also a risk that you will not receive financial assistance in the amount that you expect.

Idea 4: Social networks and media

Modern technologies offer another way out of the situation: turning to social networks. You can create a child help group and distribute information through Instagram or Facebook. You can contact the already existing thematic groups. However, a complication arises: even if many people want to help the child, the amount will be collected gradually and, most likely, slowly. In addition, you will have to account for the money spent, publish documents and your contacts, including your bank card number. This information can fall into the hands of scammers.

To speed up collecting through social networks, you can turn to influencers for help: celebrities, popular bloggers. People listen to their opinion, they have a large audience, and they will be able to raise money faster if they post information about fees for treatment. However, there is no guarantee that opinion leaders will want to help.

The same is true for the media: magazines, newspapers, online publications may refuse to post information that you need help. But if journalists or bloggers still want to help, this does not in any way solve the problem of placing data in the public domain.

Idea 5: Contact a pawnshop

If you have a car, the easiest way to raise a large amount of money for the treatment of a child is to contact a car pawnshop. Unlike banks and government agencies, a pawnshop does not require paperwork. They can pay the entire required amount on the day of application. The terms of the loan are transparent, and if necessary, the pawnshop will meet you halfway by extending the loan term or allowing you to return the entire amount earlier.

Auto pawnshops are legal, you do not run the risk of facing fraudsters. If you use a car as collateral, it will be in a guarded parking lot. Moreover, your creditors will insure it at their own expense. But if you need a car for work or to take your child to the hospital, you can leave the car documents as a deposit.


In some cases, parents can turn to charities or government agencies to receive gratuitous help. But if money for the child’s treatment is urgently needed, a payday loan or a pawnshop will be the most profitable solution to the problem. If you do not have a car or a payday loan provider in your city, you can try to get a bank loan or collect money through social networks.