Everything You Need To Know
- What is a fostering allowance?
- What are the different types of fostering allowance?
- What is the fostering allowance used for?
What Is A Fostering Allowance?
A fostering allowance is a weekly payment made to foster parent from their fostering agency. This important payment is designed to cover all the costs of looking after a foster child or young person. They differ from fostering fees in that they are a requirement, whereas fee payments aren’t required but may be made on top of the allowance if there are specific factors or challenges involved. It is designed to support and look after both carers and the children in your care.
What Are The Different Types of Fostering Allowance?
The weekly fostering allowance you receive depends on a variety of important factors, such as where you live, the child’s age, whether the child has any disabilities, your skills and experience, and which fostering service you use. These factors can impact the income you are paid, and additional money will be paid to you depending on whether additional training or support is needed. The minimum amount is between £165 and £289, but we offer a more generous financial package at Changing Futures. This is:
£445.78 per child per week placed under 11
£491.50 per child per week placed aged 11 or over
For more information on our total financial package, including how it is impacted by tax and benefits, please click here.
At Changing Futures Fostering, we offer two other allowances. The first is our 18-day Short Break Care, which enables you to have a well-deserved rest when you need it. This time can be used however you please, whether that be a peaceful getaway for a bit of R&R or simply some time to catch up on housework or the book you’re reading. We understand that this time is of fundamental importance for both you and the child or young person in your care, as too much time with anyone can cause tensions or petty disagreements to arise! We will work with you to support this time, but if you choose not to use it, we will pay you the cash value for any outstanding.
The other types of fostering allowance we offer at Changing Futures are Birthday and School Summer Holiday Payments. Amounting to between £560 and £620 a year for every child or young person placed with you, this allowance is aimed at compensating you for the more expensive, full-on times of the year. It also gives you a bit extra so that you can curate special and exciting experiences with your child or young person that they can remember forever!
What Is The Fostering Allowance Used For?
As mentioned above, the fostering allowance is income designed to cover all the costs of caring for the child or young person in your care. This includes clothes, food, toiletries, travel, school trips, and any other needs or related costs. As mentioned, fostering allowances also correlate with any more expensive times of the year, such as birthdays or summer holidays. Looking after a foster child can have its stresses, which is why we actively support you, especially in these busier times of year!
At Changing Futures Fostering, we’re all about providing our foster parents with the information and support they need to really make a difference in a vulnerable child’s life. If you need any more information about fostering allowances or if you have any other questions or queries, please click here to contact us. Or, please feel free to email us at admin@changingfuturesne.co.uk or give us a call on 01429 363 127 to speak to our brilliant fostering team!