Get stress-free financing for fertility treatments.
Deciding to use vitro fertilization (IVF) to start a family is a big decision that can have significant emotional and financial impacts. If you don’t have all the cash on hand to pay for the treatments, you may be considering a loan to cover the costs. Learn how IVF loans work, how to apply and what to avoid.
Personal loans through Prosper
You could borrow up to $35,000 for a variety of purposes, with rates from 5.99-35.99%.
- Recommended Credit Score: 640 or higher
- Minimum Loan Amount: $2,000
- Maximum Loan Amount: $35,000
- Loan Term: 3 or 5 years
- Turnaround Time: 1-3 business days
- Simple online application process
- No prepayment penalties
Compare personal loans you can use for IVF
What IVF financing options are available?
- In-house financing. Some fertility center break up the cost into more reasonable monthly payments without charging interest. Others offer discounted financing but could require you to pay upfront for treatments you may not end up needing. Check with your provider to see what can offer.
- Unsecured personal loan. These loans don’t require collateral and are offered by online lenders, banks, credit unions and brokers. They can be used for just about any legitimate purpose, including IVF treatments. You may want to double-check if the lender has any purpose restrictions before applying to be sure.
- Medical loan. Specialized medical financing options are available as well to cover a range of medical treatments, including IVF.
- Fertility grants. Organizations like Bringing U Maternal Paternal Success (B.U.M.P.S.) and the Angels of Home Foundation offer grants to families struggling to pay for fertility treatment — typically around $10,000. You’re more likely to qualify for one if you don’t have health insurance that covers IVF.
How much does IVF cost?
The average cost for one course of IVF treatment is about $12,000. Since IVF isn’t always successfully after the first course of treatment, several attempts may be needed, possibly doubling, tripling or even quadrupling the total cost.
Some health insurance policies cover fertility treatments. Be sure to check how much you’ll be responsible for, including deductibles, co-insurance and/or co-pays. Your health insurance policy may also have an annual maximum benefit that could put a cap on how much the insurance company will cover.
What are the benefits of IVF loans?
- Range of loan options. Depending on your eligibility, you can have your choice between a variety of borrowing options.
- Reasonable terms and rates. Unsecured personal loans and medical loans can come with flexible repayment terms and competitive interest rates so you can borrow affordably.
Things to avoid
- Interest rates. Some IVF loans can come with high interest rates, resulting in you paying more over the course of your loan. If you have a poor credit history, expect to pay a higher interest rate.
- Hidden fees and charges. When you apply for an IVF loan, it’s important to read the fine print to look for a list of fees and charges you might have to pay during the course of the loan. These can include application fees, origination fees, early repayment fees and late fees.
How to apply for an IVF loan
Many lenders allow you to complete online applications for IVF loans, so you can start the shopping process by comparing loans in the table above. The eligibility criteria and application process will differ depending on the lender you choose. In general, you should be a US citizen or permanent resident and at least 18 years old.
When filling out the loan application, you’ll need to provide some personal information:
- Contact details such as phone number, email address and mailing address
- Income/employment information
- Details of debts
- Details of assets