Updated
May 30, 2023 Raising a child is expensive, but fertility complications may bring a new financial burden before your baby arrives. In vitro fertilization (IVF) combines medical and surgical procedures to help aspiring parents get pregnant.
IVF assisted in over 73,000 births in 2020 alone. One cycle of treatment may cost upward of $20,000 (not including medication). On average, most couples go through at least two cycles before conceiving, resulting in costs of $40,000 to $60,000 without insurance.
Many people don’t have this much money, so financing is the next-best way to pay. Are you looking to finance your fertility journey? We’ve researched the best options and the pros and cons of using an IVF loan.
In this guide:
IVF loans
If you need IVF financing, we’ve researched four loans that might be appealing options.
An IVF loan program that provides support
| Future Family IVF loan | |
| Monthly payment | $300 – $475 per month |
| Fees | $299 annual membership fee |
| Loan amounts | $5,000 – $50,000 |
| Support | Fertility expert support Bill pay management |
| Medication discounts | 15% on IVF medications |
| Credit score requirements | 680+ 620+ in certain states |
| Interest rates | 0.00% APR with a required deposit 7.99% – 17.99% APR depending on the loan |
Future Family’s IVF financing provides families with multiple financing options and a support network. Its plans cover a wide range of services, including:
- Cycle costs
- Medications
- Anesthesia
- Physician fees
- Egg or sperm donor
- PGT testing
- Cryopreservation
- Surgical center
In addition to the financing, it provides the support of registered nurse fertility coaches for three months. Its bill pay management system handles bill payments to each provider. Future Family also offers discounts on labs and medications.
While its general credit score requirements are high, Future Family allows friends or family members to cosign or take out the loan on your behalf. Check out its prequalification tool with no hard inquiry on your credit to see whether you’ll be approved.
Personal loans for IVF
Don’t have the money to pay out-of-pocket for IVF costs? A personal loan for IVF may be the answer.
Loan funds go to you or your provider in one lump sum. Then you repay the loan over a set time frame with fixed interest and equal monthly payments.
Personal loans are appealing for IVF expenses because:
- A fixed interest rate means consistent payments.
- Personal loans can cover almost anything (including IVF).
- Interest rates are often lower than a credit card.
- No collateral is required.
Getting the best personal loan for IVF often requires a credit score in the “good” range—between 670 and 739. Even without good credit, a personal loan might fit you.
Keep reading our research on the best loans for IVF—narrowed down by credit score.
Best for good credit: SoFi
Editorial rating: 5 out of 5
- Flexible loan terms
- Lightning-fast decisions and funding (same day)
- Unemployment protection
SoFi is an online bank that offers checking accounts, mortgages, personal loans, and more. Its personal loans include excellent consumer protections and benefits—such as unemployment protection—that make it easy to choose this lender for your IVF loan.
Rates are reasonable, but you must have good credit to qualify. SoFi offers flexible repayment terms of two to seven years, so you can choose what works best for your budget. You can borrow as much as $100,000, so this loan can be appealing if you need to fund several IVF cycles.
- Rates (APR): 8.99% – 23.43%
- Loan amounts: $5,000 – $100,000
- Credit score category: Good to excellent
- Soft credit pull to check rates? Yes
- Deposit time: Same-day funding
- Origination fee: 0% to 6%
- Late fee: None
- Discounts: 0.25% discount with autopay; Direct deposit discount of 0.25% (must set up a $1,000 monthly direct deposit to a SoFi checking account)
- Repayment terms: 2 – 7 years
Best for fair credit: Upgrade
Editorial rating: 4.9 out of 5
- Fast funding times
- Excellent customer service ratings on Trustpilot
- Flexible loan terms
Upgrade is a financial technology company and online lending marketplace that partners with three banks to provide consumers with affordable personal loans.
Upgrade offers repayment terms of up to seven years, and you can borrow up to $50,000 for your IVF journey. Upgrade will assess an origination fee on your loan, so consider that when determining how much you’ll pay for your loan. Upgrade offers credit assistance to borrowers, which can be an appealing perk for those who want to raise their credit scores.
- Rates (APR): 8.24% – 35.97%
- Loan amounts: $1,000 – $50,000
- Credit score category: Bad, fair, and good
- Soft credit pull to check rates? Yes
- Deposit time: As soon as 1 business day
- Origination fee: 1.85% – 8.99%
- Late fee: Up to $10
- Discounts: None
- Repayment terms: 24 – 84 months
Best for thin credit: Upstart
Editorial rating: 4.8 out of 5
- No prepayment penalty
- Low credit score requirement makes it accessible to borrowers with bad credit
- Excellent customer service ratings on Trustpilot
Upstart is an artificial intelligence lending marketplace that caters to borrowers with thin or poor credit. Borrow up to $50,000 for IVF treatments, which you can repay over up to five years. (Upstart offers fewer loan terms than SoFi or Upgrade.)
You’ll enjoy fast funding if your IVF loan is approved, with a deposit as soon as one business day. You might pay an origination fee for your Upstart loan, so consider this cost.
- Rates (APR): 6.70% – 35.99%
- Loan amounts: $1,000 – $50,000
- Credit score category: Thin credit (minimum credit score of 300)
- Soft credit pull to check rates? Yes
- Deposit time: As soon as 1 business day
- Origination fee: 0% – 10%
- Late fee: N/A
- Discounts: N/A
- Repayment terms: 3 or 5 years
Eligibility and application
Lenders such as Upstart and LendingPoint accept lower credit scores, but you might pay more in interest or origination fees to compensate for poor credit. To get the best rates and a more affordable loan, you should have a credit score in the good to excellent range—or, for a loan from SoFi, Upgrade, and other lenders, a creditworthy cosigner.
Your credit score, income, and current debt affect your loan amount. Lenders analyze this data to determine the risk you won’t repay your loan. Your interest rate, loan amount, and origination fee are assigned according to that level of risk.
Certain lenders take several days to review your documentation and finalize your application, while others do so within hours.
- SoFi: As soon as the same day
- Upgrade: As soon as one business day
- Upstart: As soon as one business day
>>Read more: Personal loans for bad credit
Pros and cons
IVF loans provide a way to afford IVF treatments, but weighing the pros and cons of financing is crucial.
Pros
-
Borrow a large lump sum at one time
You can take out IVF loans for up to $100,000 or more with specific lenders. Cumulative IVF costs range from $40,000 to $60,000 on average, so access to a more extensive source of funds is essential.
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Fixed interest rates
Borrowers with solid income and stellar credit often get competitive interest rates on personal loans. Personal loans also have fixed rates, so you won’t see your interest rate or payment fluctuate. It saves you from the dangers of compounding interest from racking up a credit card balance.
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A set repayment timetable
Credit cards and other forms of revolving credit have no predetermined end to repayment. Personal IVF loans establish a loan term so you know upfront how long it’ll take to pay it off, allowing you to avoid seemingly endless debt.
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No collateral required
Most personal loans do not require collateral. Other types of financing, such as a home equity loan, use your property to secure the loan. The danger is if you can’t keep up with payments, you risk losing your home.
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Flexibility in funding
Personal loans provide a wide range of repayment terms and loan amounts, depending on which lender you choose. You can select which terms work best for you. With few restrictions on how you can use the funds, you might better handle the costs of IVF treatments.
Cons
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Higher interest than secured loans
The rates on some personal loans are low, but others have high rates, topping out at 35.99%. Rates for IVF loans tend to be lower than other types of lending, but they’re higher than most collateral-backed loans. Secured loans pose a lower risk to lenders, so the interest rates often reflect that.
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Loans might have origination fees
Certain lenders charge an upfront fee for your loan. Origination fees often appear as a percentage of the total loan amount. The lender might deduct the origination fee from the amount you borrow, or you may pay out of pocket. This translates to higher borrowing costs.
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Not everyone qualifies for a personal loan
It’s wise to prequalify with multiple lenders before a full credit application. Even with several lenders, qualifying may still be difficult if you don’t meet credit or income standards.
Alternative IVF financing options
If you don’t want to take out a personal loan or can’t qualify for one, you have several options.
Fertility grants
Your No. 1 option should always be funds you don’t have to repay. Fertility grants and treatment scholarships from nonprofit organizations can help families cover the cost of IVF.
The National Infertility Association lists several grants ranging from $2,000 to $16,000. Even if it doesn’t cover the total cost of IVF, it reduces the interest you’ll pay and your debt.
Clinic financing
Depending on the clinic where you’re getting treatments, it may offer IVF financing through a third-party service. Clinic financing simplifies borrowing by removing the search for a lender from your to-do list.
The lender sends funds to the clinic once it approves you. Specific clinics offer special rates, such as 0% interest for a particular time or low-rate financing. This could make financing your fertility journey more affordable.
Medical loans
Specialized medical loans are available through many lenders, including LightStream. Depending on the lender, the rates and terms are often similar to personal loans. These loans tend to be unsecured and allow you to repay what you borrowed over several years.
Credit cards
Your IVF clinic may allow you to charge your services on a credit card. However, consider other options first because credit cards often carry high variable interest rates.
If you’ve used grants and clinic financing but still need to pay for medications or lab work, a credit card could be helpful for the smaller incidental costs of an IVF cycle.
To avoid paying as much interest as possible, apply for a credit card with a 0% promotional APR on purchases for a limited time. A 0% APR card could give you up to 21 months to pay for IVF cycle expenses.
Before applying, consider whether you can pay off the balance during the promotional period. Take caution not to max out your credit card to pay for your fertility treatment. This hurts your credit score and makes it difficult to pursue other financing options later.